FinTech news in SMEs category

Founded in 2018 to provide working capital loans for small to medium-sized businesses, Aspire began offering more services, including bank accounts for cross-border businesses, corporate cards, payable and receivable management and automated invoice processing connected to financial management software.

To help meet SMEs’ financial needs in the country, Seoul-based fintech startup Korea Credit Data (KCD) said Thursday that it has raised $24.7 million in Series D extension financing. KCD claims that it has more than 1.7 million registered merchants in South Korea and its app has grown into a super app among small and mid-sized business owners.

Today, Funding Societies announced it has raised $144 million in an oversubscribed Series C+ equity round led by SoftBank Vision Fund 2, with participation from new investors like VNG Corporation, and more.

KoinWorks was originally created to help SMEs, which are often turned away by traditional financial institutions, get access to working capital. Over the last three years, Indonesian fintechs focused on SMEs have grown to include other neobanks and startups that started out as accounting software but are expanding to include working capital loans and other financial services.