Singapore’s The Social Loan Company secures investment from Abu Dhabi’s ARI Holding

Singapore-headquartered fintech, The Social Loan Company (TSLC), announced the closing of its over $25m pre-series B financing round from an investor consortium led by Abu Dhabi Global Market (ADGM)-domiciled ARV Investments.

ARV Investment is a global investment vehicle under ARI Holding, a privately held investment group based in Abu Dhabi. Following the conclusion of the pre-series B round, Rothschild & Co has launched a Series B funding round of over $100m for TSLC.

Founded in 2016, TSLC offers AI-powered, big-data driven personalised financial solutions, and a machine learning-imbued platform that generates proprietary predictive analytics. The new capital will be used to fuel the growth of its digital lending operations, deepen its AI and predictive analytics capabilities in chosen markets, and grow its global talent pool, a statement said.

TSLC currently has over eight million digital natives on its platform in India under the brand – CASHe. The company has recently established its presence in the UAE as its first market to launch in MENAT.

The fintech is looking to launch its mobile-first credit-led platform in the Middle East within the next six months, the statement added. Once launched, the global financial wellness platform will promote affordable credit to underserved middle-income consumers.

Deepak Saluja, group CEO and co-founder, TSLC, said: “ARI Holding has a visionary team with significant interests in innovative technologies and financial services. Its investment in us is a testament to the strength of our AI, proprietary data analytics and machine-learning enabled platform. As we look to enter new markets in LATAM, the Middle East, Sub-Saharan Africa and APAC, we are positioned to build on the strong support we have received to date. We are excited to have Rothschild lead our Series B funding round, which will help us accelerate innovation, achieve breakthrough growth and fulfil our mission on a much larger scale.”

TSLC has recently set up Digital Collective Technologies Ltd., a wholly owned subsidiary in ADGM and expanded its new regional offices at One Central, Dubai.

Earlier this year, it sealed a transformational banking partnership with Aafaq Bank, UAE to launch a credit-enabled wallet with embedded mobile banking, virtual cards and personalised financing solutions. Most recently, TSLC partnered with Alliance Holdings to access the Bangladeshi market, with a product launch expected in the coming months.