- Singapore’s Doxa Holdings secured funding.
- It will expand its supply chain financing platform into Malaysia.
- Doxa aims to be a procurement analytics leader in Southeast Asia.
Doxa Holdings gets cash to enter Malaysia
Singapore-based fintech startup Doxa Holdings has secured a new investment from VC firm Cento Ventures to fund expansion into Malaysia and serve new customer segments.
Doxa operates a digital procurement platform that provides payment solutions, credit scoring data, and supply chain financing to SME suppliers and contractors.
The latest funding amount was undisclosed but follows a $2.2 million pre-Series A round Doxa closed in 2022. The firm will leverage the capital injection to break into the Malaysian market by partnering with an unnamed local financial institution.
A future procurement titan?
Doxa’s platform aims to alleviate a major pain point for supply chain SMEs – accessing financing. By tracking procurement transactions and invoice data, Doxa can automate credit decisions. The firm currently serves companies in construction, real estate, and healthcare.
“SMEs anywhere need financing to develop their businesses, including those operating in the supply chain. However, doing so can be challenging: Supply chain financing is usually considered to be more risky due to limited data and tools,” said Doxa CEO Edmund Ng.
With new funding and cross-border expansion plans, Doxa is positioning itself as a procurement analytics leader, improving supplier access to capital across Southeast Asia.
