Singapore based ‘bank as a service’ platform MatchMove, which has its offices in the Indonesia, India, Philippine, and Vietnam, has now closed an agreement with the licensed P2P lender MoolahSense to acquire a strategic stake with the immediate effect.
Shailesh Naik, Founder and Group CEO, MatchMove, said,
“With this partnership, we will be able to leverage on MoolahSense’s capability in credit origination and scoring to serve our clients better. Furthermore, there is a natural strategic convergence between our two digital platforms to go-to-market together as a combined offering.”
With this, Shailesh will now be going to join as the Board of Director of MoolahSense, which is a data-driven Peer to peer lending platform focused on the SME lending.
The company which is founded in 2013, MoolahSense claims to be the first digital lending platform to receive the full capital market services license from the Monetary Authority of Singapore.
This acquisition will enable the MatchMove to further strengthen its Spend. Spend. Lend capability and provide access to the financing to SME’s within its ecosystem, the company revealed in a statement.
MoolahSense will be able to use the MatchMove integrated regional partner network to click on the new segments and extends its capability to fund the creditworthy SME’s across India, it revealed
Lawrence Yong, CEO of MoolahSense, said,
“We are excited to partner with MatchMove to launch a risk-mitigated “on-tap” credit solution for curated digital ecosystems that fulfill the working capital needs of SMEs. We shall be turning our “Lending-in-a-Box” into MatchMove’s vision of “Banking-in-any-App” to realize the dreams of many SMEs and reward the decisions of lenders.”
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