Lendela secures AUD 7.8m Series A round to level the playing field for Australian borrowers

SYDNEY – 23 NOV 2023 – Lendela, the digital loan matchmaking platform, announced today

its successful AUD 7.8 million (USD 5 million) Series A funding round. The oversubscribed round

was led by Singapore-based Chocolate Ventures, with participation from Lendela’s seed

investor Cocoon Capital. The round was also joined by Phillip Private Equity and Genting

Ventures, propelling Lendela’s commitment to democratise personal loans.

Lendela was founded in 2018 and expanded operations into Australia this year. The platform is

on a mission to simplify and streamline the loan application process by empowering borrowers

with transparent and personalised loan options, offering a refreshing alternative to the traditional

labyrinth of the current lending landscape.

Founder and CEO Nima Karimi said, "Over the past decade, personal loans in Australia have

seen continuous improvements as lenders invest more heavily on customer experience.

Lendela builds upon this to add a layer of transparency, giving consumers more clarity such as

their chances of approval.

As Australian regulators continue to promote responsible unsecured lending, Lendela stands

out as a beacon of simplicity and transparency. "Our platform increases access to the most

affordable and realistic credit options available, taking into account each profile’s credit history.

We aim to transform the borrower experience, making it easier for individuals to make informed

decisions about their loans”, Karimi explained.

Jake Osborne, Head of Australia at Lendela added, "We have built a solution that brings

financial empowerment to every rung of the credit ladder. Our direct integration with a diverse

array of lenders ensures that borrowers are never in the dark about the choices available to

them, regardless of credit profiles."

Lendela's commitment to providing a superior borrowing experience is evident in its extensive

track record. In the last year alone, the fintech has brought over AUD 5.7 million in savings to

borrowers, thanks to its unique reverse auction model.

Over the years, Lendela has achieved remarkable milestones, including achieving profitability in

its core markets and doubling its business annually. Today, borrowers using Lendela benefit

from swift loan processing times from application to money in the account in as quick as 10

minutes, owing to Lendela’s seamless API integrations with lending partners and Australia's

open banking ecosystem.

Charting a path forward

Looking ahead, the funds will be directed towards further expansion across the Asia-Pacific

region, and product development to enhance integration and broaden the scope of consumer

services benefiting from greater transparency.

"We are not disruptors - we are enablers. Our platform connects consumers with the best loan

providers, streamlining the process for greater efficiency so nobody pays more than necessary

for their loan", said Karimi.

ABOUT LENDELA PTE. LTD.

Founded in Singapore, Lendela is Asia-Pacific’s leading digital loan matchmaker connecting

borrowers with their most accurate loan options. Driven by our mission to democratise personal

loans, Lendela helps consumers navigate their loan journey with ease by harmonising the

interests of lenders and borrowers. Since our inception in 2018, Lendela has empowered over

100,000 consumers with clarity and confidence to make informed loan decisions with an

extensive range of choice from more than 100 lending partners. Today, Lendela serves

customers in three markets with offices in Singapore, Hong Kong, Sydney and Kuala Lumpur.