Validus today announced that it has entered into an agreement with Citigroup in Singapore (Citi) to acquire its CitiBusiness loan portfolio in Singapore, in a move that will bolster Validus’ top line revenue, customer base, and expand its growing loan book.
This is the first time a fintech in Southeast Asia is acquiring an established bank’s loan portfolio and customer base, and it underscores Validus’ trailblazing fintech leadership as it continues to extend its leadership position as the top SME growth financing platform in Southeast Asia.
