TurnKey Lender, a Singapore-based digital solution provider for non-bank lenders, just closed a Series A1 round led by Malaysian private equity firm, OSK Ventures International. The amount of the investment was not disclosed.
The company plans to use the capital to support growth objectives in the U.S., Europe, and Southeast Asia. Vertex Ventures, who led the company’s previous $2 million funding round in 2017, and Western NIS Enterprise Fund also participated in the Series A1.
Company CEO Dmitry Voronenko called the funding a “vote of confidence” in TurnKey Lender and its momentum over the past year. Calling technology access the key factor in credit access, Voronenko said the goal of the company was to make it easier for “banks, non-bank lenders, and alternative lending companies around the globe” to access AI-powered digital lending technology.
Founded in 2014, TurnKey Lender demonstrated its SaaS solution at FinovateSpring 2017. The technology supports the complete loan lifecycle, from application processing to collection and reporting, fully automating the process for lenders. The platform readily integrates with both internal and external data sources and services, and leverages advanced scoring of applicants to reduce credit risk.
TurnKey Lender won Best SME FinTech SaaS Software Company in Singapore at Acquisition International’s Business Excellence Awards earlier this year. The company was also named a top auto loan origination platform by HCCResearch. Last month, TurnKey Lender co-founder and Head of Business Development Elena Ionenko was shortlisted for the Women in Credit Awards sponsored by Credit Strategy.