Singapore-based artificial intelligence (AI)-driven fintech firm, The Social Loan Company (TSLC) has closed its Pre-Series B financing round of over $25 million, from an investor consortium led by ADGM-domiciled ARV Investments.
Following the conclusion of its Pre-Series B round, TSLC also saw significant interest from global institutional investors, including Rothschild & Co, which launched a Series B funding round of more than $100 million for TSLC.
Founded in 2016, TSLC is known for its ecosystem of AI-powered, big-data-driven personalized financial solutions and a Machine Learning-imbued platform. The Singapore-headquartered company will utilize the new capital to fuel its digital lending operations and deepen its AI capabilities in selected markets.
With a track record of sustainable growth and execution, TSLC has more than 8 million digital natives on its platform in India under the brand “CASHe”. Recently, the company established its presence in the UAE as its first market to launch in the Middle East, North Africa, and Turkey (MENAT) region.
TSLC is also planning to launch a progressive mobile-first credit-led platform in the Middle East within the next six months. With the platform, the company aims to offer affordable, personalized and instantaneous credit to underserved middle-income consumers.
Deepak Saluja Group CEO & Co-Founder TSLC
“ARI Holding has a visionary team with significant interests in innovative technologies and financial services. Its investment in us is a testament to the strength of our AI, proprietary data analytics and machine-learning enabled platform, and clearly a vote of confidence in our ability to leverage our platform on a global scale, revolutionizing access to honest credit and driving financial inclusion for the new generation. As we look to enter new markets in Latin America, the Middle East, Sub-Saharan Africa and APAC, we are positioned to build on the strong support we have received to date. We are excited to have Rothschild lead our Series B funding round, which will help us accelerate innovation, achieve breakthrough growth and fulfill our mission on a much larger scale.”
TSLC recently set up Digital Collective Technologies, its wholly-owned subsidiary in Abu Dhabi Global Market (ADGM). Earlier this year, it entered into a partnership deal with Aafaq Bank to launch a credit-enabled wallet with embedded mobile banking, to drive financial inclusion in the Middle East and North Africa (MENA) region.
ARV Investment is a global investment vehicle under ARI Holding, a privately held investment group based in Abu Dhabi, that has the mandate to invest globally, across multiple asset classes into select industries.
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