LenderLink, a fintech company with bases in Singapore and Manila, has announced the successful closure of a seed funding round, raising USD $1.25 million.

Investors, including Iterative and Kaya Founders, alongside other investors such as Founders Launchpad and Manila Business Angels, participated in the investment round.

Established in 2024, LenderLink is also said to be developing a credit bureau in the Philippines through the seed funding. The company’s objective is to help lenders lower their non-performing loans (NPLs).

LenderLink aims to update consumer lending practices through its API-first platform. This platform allows lenders to report and access consumer credit risk data in real time.

By addressing factors contributing to high default rates, LenderLink intends to help facilitate potentially lower consumer interest rates and support financial inclusion in the Philippine consumer lending market.

Christo Georgiev, CEO of LenderLink, commented on the challenges posed by a lack of real-time credit data infrastructure in emerging markets.

“With this funding, we are addressing this foundational problem by bringing credit into the tech age, leveraging AI, data science, and automation to empower lenders while enabling consumers to rehabilitate their credit profiles faster and more safely,” Christo said.

LenderLink reports having integrated five contributing ecosystems and over 25 million records. Financial institutions that are members can access credit data. Ray Alimurung, General Partner at Kaya Founders, expressed confidence in LenderLink’s direction and the founding team’s knowledge.

“We believe that LenderLink will be pivotal in enabling lenders of all types, from traditional financial institutions and cash lenders to digital banks and BNPLs, to scale effectively while mitigating risk, and have deep conviction that LenderLink’s ability to deliver real-time, high quality credit data will be a game-changer for an ecosystem that has traditionally struggled with fragmented and outdated credit information,” he adds.

Fintech veterans previously involved with FinScore, a credit scoring company in the Philippines, are part of the founding team. The new funding will drive technology enhancements, market expansion, and the building of relationships with lenders and financial institutions.

Currently, outdated infrastructure constraints are affecting the consumer lending market in the Philippines, valued at an estimated USD $14 billion.

LenderLink aims to support further development by providing risk assessment tools and potentially increasing access to credit for borrowers.

Featured image: Edited from Freepik.