JAKARTA. Validus Capital targets to channel S$ 1 billion in SME loans until 2021.
The Singapore-based P2P lender has recently expanded to Indonesia and Vietnam. Since commencing operations in Singapore in 2016, Validus has channeled S$ 300 million in SME loans.
Validus Capital CEO and co-founder Ajit Raikar said that both countries have great potential for SME growth, adding that the portion of loan disbursement in Indonesia will be bigger compared to Singapore and Vietnam. "The portion of loan disbursement for SMEs in Indonesia will be bigger because its market potential is 10 times bigger than the one in Singapore," Mr Raikar told IDNFinancials.com, Tuesday (9/10).
Moreover, Mr Raikar quipped, regulations regarding P2P lending in Indonesia are helpful to Validus Capital's business. "The OJK (Financial Services Authority) is very supportive of P2P lending platforms. In Vietnam there are no guidelines such as the ones Indonesia has," he said.
Currently Validus Capital only receives third-party funds from corporate investors with a minimum investment value of S$ 20,000 (Rp 200 million). According to Mr Raikar, the measure is strategic because corporate investors' portfolios are more suitable than retail investors'. (KR/MS)