Finology Group, a Malaysian fintech that enables embedded finance, announced that it has closed its pre-Series A funding round. Details of the fundraise was not disclosed.
Led by Silverlake Group, the funding round was also joined by The Hive Southeast Asia and Malaysian Technology Development Corporation (MTDC).
The company plans to bring its solutions to financial institutions and consumer-facing brands in the APAC market in a bid to increase financial inclusion and support the underbanked.
Noting the potential of embedded finance in the lending and insurance landscape, Finology had expanded its offerings to include a wider range of products such as mortgages, personal loans, hire purchases, and insurance.
With the fresh funds, Finology said that it will continue to invest in enhancing its end-to-end lending and insurance suites of API-driven solutions through strategic collaborations, organic growth and regional expansion.
Robin Ang, Group CEO and Co-Founder of Finology said,
“Our mission is to bring financial inclusion to the APAC region through embedded finance.
We are grateful for our partners’ trust and support as we work to improve our technology and make financial products accessible and seamless for everyone everywhere.”
Finology is a finalist for three categories at the upcoming Fintech Frontiers Awards Malaysia including the Fintech of the Year, Top Insurtech Startup and Founder of the Year (Robin Ang).
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