Singapore fintech startup raises seed funding to digitize corporate loans
18 June 2020
Singapore-based iLex, which aims to transform the corporate lending market, announced that it has raised an undisclosed amount of seed funding from strategic investors in France, Hong Kong, Singapore, and the US. The startup, which was launched just last year, wants to create an end-to-end digital trading platform for primary syndicated loans and secondary loans. To do this, it plans to create a data analytics tool to help participants make informed credit decisions. As transactions increasingly go online, it also aims to automate deal workflows and offer secure online trading and communications.
The market participants it currently supports include banks, private debt funds, pension funds, asset managers, life insurers, hedge funds, and sovereign wealth funds, among others.
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