AsiaCollect, a pioneer in providing integrated Credit Management Services (CMS) in Southeast Asia, has raised USD4.5 million to date after closing its recent investment round led by global technology investment firm SIG Asia Investments.

Dymon Asia Ventures, the venture capital arm of Dymon Asia Capital, a Singapore-based alternative investment

management firm, returned to co-invest in this round after investing USD1 million in AsiaCollect’s pre-series A equity round in August last year.

AsiaCollect delivers maximum CMS efficiency for its clients through an integrated product offering, which includes CMS Outsourcing, CMS Advisory Services, Debt Purchasing, and Software-As-A-Service (SaaS). Thecompany’s proprietary technology streamlines and automates a majority of debt collection processes, whileminimising the need for field collection, which has traditionally been associated with high reputational risk for lenders and a distressing experience for consumers.

Mr. Tomasz Borowski, chief executive officer and co-founder of AsiaCollect, said, “We are thrilled to have SIG on boardas they have a unique track record of picking winners in financial services. As we move into the purchasing segment of the value chain, we are increasingly attracting significant investor interest, both from an equity and debt standpoint. Moreover, investors view the debt collections business as a classic counter-cyclical play, which is becomingincreasingly important as we move into what looks like the peak of this cycle.”

“Over the medium to long-term, purchasing NPL portfolios off banks’ balance sheets is likely to be a major driver ofrevenue growth for AsiaCollect. We have already purchased our first portfolio from a large financial institution in Vietnam, and we are focused on executing on many more such transactions going forward. We are supported by a highly experienced data science team in Ukraine who brings with them strong knowledge and expertise in pricing portfolios through business cycles. We will continue to leverage this and differentiate ourselves in a market where there is a dearth of professional debt collectors and purchasers and that is dominated by fly-by-nightoperators,” added Mr. Tomasz Borowski.

AsiaCollect will use the new funds to support growth initiatives, including client acquisition in its core markets, enhancements to its SaaS solution, expansion of its collections’ infrastructure and teams, and to continue purchasing NPL portfolios. AsiaCollect has seen sustained and rapid growth since its 2016 launch and is currently managing over USD40 million in assets of over 10 financial institutions and digital lenders across Vietnam, Indonesia, and the Philippines.Thecompanyestimatesthattherewillbeover$45billionofconsumerNPLs1 generatedinitscoremarkets