According to the joint statement, a number of existing and new investors have invested in the newly-combined entity including Dymon Asia Ventures, while Malaysia-based OSK Venture International Bhd became a shareholder. No financial terms of the merger were disclosed. The merger will enable the two companies to form a fully-integrated supply chain finance platform with more than USD 14.5 million in annual revenues and profitable on an EBITDA basis.
Capital Match was founded in 2014 as a peer-to-peer lending platform but has pivoted to focus primarily on invoice financing services and has facilitated more than USD 72.7 million in financing from retail, accredited and institutional investors to SMEs in Singapore and Hong Kong.
After an initial rollout in SIngapore, the combined entity plans to expand into other markets in Southeast Asia through greenfield development, partnerships and/or acquisitions. Founded in 1999, SESAMi now processes around USD 1.45 billion of e-invoices annually on its platform, and facilitates a fuel discount programme in partnership with a fuel retailer.
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