Validus

What Validus does

Validus is a Singapore-headquartered digital lending platform founded in 2015 to address the unmet financing needs of small and medium-sized enterprises across Southeast Asia. The company operates four market-specific entities — Batumbu in Indonesia, Siam Validus in Thailand, Validus Vietnam, and GXS Capital in Singapore (subsequently divested to GXS Bank in 2025) — and has disbursed over US$5 billion in loans since inception. Its core product is supply chain and invoice financing for underbanked SMEs, delivered through both direct digital platform access and B2B corporate vendor financing programs with partners such as SCG Distribution and ST Engineering.

The underlying technology is a proprietary credit risk algorithm originally co-developed with the National University of Singapore's Risk Management Institute – Credit Research Initiative in 2016, which enables data-driven underwriting on thin-file borrowers that traditional banks typically reject. Validus has layered adjacent products onto this lending core, including a no-fee all-in-one business account for SMEs (launched in Singapore in 2022) and the acquired Kleacard business payments and expense management platform, positioning the company as an embedded finance provider rather than a pure-play lender.

Validus earns revenue primarily through interest income and transaction-based fees on its SME loan portfolio, supplemented by partner-funded facilities from institutional capital providers. The business is supported by a diversified funding stack spanning equity (Series A through Series D from investors including Vertex Ventures, Khazanah Nasional, FMO, 01Fintech, and East Asian strategics) and debt facilities from HSBC, Citi, FMO, Oikocredit, and Lendable. With 101–250 employees, a 50% revenue increase reported in 2023, and a stated 2024 profitability target, the company is at an inflection point between scaling-stage growth and operating profitability.

Name

Validus

Legal name

Validus Investment Holdings Pte Ltd

Website

https://validus.sg

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Validus is a Singapore-based digital lending platform providing supply chain and invoice financing to underserved SMEs across Southeast Asia via proprietary credit algorithms and market-specific entities in Indonesia, Thailand, Vietnam, and Singapore.

Ownership category

akta.pro rank

Product category

SME Digital Lending

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Open Account Trade Finance (Receivables/Payables Finance) (FSABAHAB)

Keywords

• SME supply chain financing
• Digital lending platform
• Invoice financing solutions
• SME business accounts
• Fintech credit underwriting

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. SME Supply Chain Financing: Validus provides supply chain financing to SMEs, earning interest income on loans extended. The platform connects SMEs with capital while providing returns to investors and funding partners.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels3 records

Core offering

Validus is a digital lending platform that provides SME supply chain financing, invoice financing, vendor financing, and integrated business account services to underserved small and medium enterprises across Southeast Asia. The company uses proprietary credit risk algorithms and data-driven underwriting to originate and disburse loans in Indonesia, Singapore, Thailand, and Vietnam through market-specific entities (Batumbu, GXS Capital, Siam Validus, Validus Vietnam).

Product overview

Validus is a digital SME supply chain financing platform headquartered in Singapore, operating across four Southeast Asian markets (Indonesia, Thailand, Vietnam, and Singapore). The platform consists of a core financing platform enhanced by market-specific entities and acquired products: Batumbu (Indonesia operations), Siam Validus (Thailand operations), and Kleacard (business payments and expense management, acquired in 2021). Validus offers invoice financing, business accounts, and digital lending solutions for SMEs, leveraging proprietary credit risk algorithms and data-driven technology to serve under-insured SMEs across the region.

Differentiator

Problem solved

Functional benefit

Brands

• Batumbu: SME financing platform operating in Indonesia
• Siam Validus
• Validus Vietnam

Products and services

• Validus Core SME Financing Platform Digital supply chain financing platform providing invoice financing, vendor financing, and growth financing to underserved SMEs across Southeast Asia, leveraging proprietary credit risk algorithms for underwriting.
• Batumbu (Indonesia) Indonesia-specific SME financing platform operated under Batumbu, registered with Indonesia's Financial Services Authority (OJK) and offering invoice financing and working capital loans to Indonesian SMEs and MSMEs.
• Siam Validus (Thailand)

Quantifiable outcome

• US$5 billion+ total funded across all markets since 2015
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• TTC GroupcoreStrategic or Co-development Partner · 1 January 2022Validus formed a joint venture with TTC Group and Do Ventures to expand access to credit for SMEs in Vietnam.
• ST EngineeringminorStrategic or Co-development Partner · 1 March 2018Validus commenced first corporate vendor financing program with ST Engineering in March 2018.
• GeBIZminorChannel Partner/ Reseller/ Distributor · 1 July 2017Validus joined GeBIZ as an approved financing partner for government procurement.
• VisaminorStrategic or Co-development Partner · 1 May 2017Validus partnered with Visa in May 2017 to develop a virtual card-based SME financing solution.
• NUS RMI-CRIcoreTechnology or Integration · 1 August 2016Validus developed its first proprietary credit risk algorithm with NUS Risk Management Institute - Credit Research Initiative in August 2016.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Funding Societies: Singapore-headquartered SME P2P / digital lending platform operating across SEA (Singapore, Indonesia, Malaysia, Thailand, Vietnam). Closest direct peer to Validus with near-identical product (invoice financing, working capital) and customer base (underserved SMEs).
• KoinWorks: Indonesia-focused P2P lending platform offering working capital and supply chain financing to SMEs and MSMEs. Directly comparable to Validus's Batumbu business in product, geography and target segment.
• Taralite: Singapore-based fintech providing invoice financing and working capital to SEA SMEs via a digital marketplace. Comparable business model and customer base to Validus.
• Aspire: Singapore-headquartered SMB fintech offering business accounts, expense management and working capital financing across SEA. Directly comparable product set to Validus's financing + Kleacard-anchored business account offering.
• Kredivo: Indonesia-headquartered digital lending platform serving underbanked consumers and SMEs across SEA. Comparable in using proprietary credit decisioning to lend to thin-file SEA borrowers.

Broad incumbents

• Grab Financial Group: Super-app financial services arm of Grab serving SEA consumers and merchants with lending, payments and insurance. Larger incumbent with overlapping SME and merchant financing capabilities across Validus's geographies.
• GoTo Financial: Financial services arm of Indonesia's GoTo ecosystem, offering payments, lending and merchant services. Broad incumbent operating in Validus's core Indonesian SME market with deeper distribution.

Emerging players

• LenddoEFL: Singapore-headquartered alternative credit scoring and digital identity provider focused on emerging markets. Comparable in applying proprietary data/AI underwriting to underbanked SEA borrowers, though positioned more as an enabler than a direct lender.
• Xendit: SEA payment infrastructure provider increasingly moving into SMB lending and embedded finance. Comparable in serving SEA SMBs with digital financial services, though primarily a payments peer adjacent to Validus's lending core.

Regional players

• Akulaku: SEA consumer and SME digital lender/payment platform headquartered in Indonesia with strong presence across Philippines, Vietnam and Thailand. Comparable digital lending model serving underbanked SEA borrowers, though more consumer-weighted.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/validus-capital
• Xx.com/validuscapital
• Facebookfacebook.com/smefinancing

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds12 records

Investors21 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Validus