TurnKey Lender locks in new investment from OSK Ventures
TurnKey Lender, a Singapore-based digital solution provider for non-bank lenders, has closed a Series A1 round led by Malaysian private equity firm, OSK Ventures International. The amount of the investment was not disclosed, reports David Penn at Finovate.
The company plans to use the capital to support growth objectives in the US, Europe, and Southeast Asia. Vertex Ventures, who led the company’s previous $2 million funding round in 2017, and Western NIS Enterprise Fund also participated in the Series A1.
Company CEO Dmitry Voronenko calls the funding a “vote of confidence” in TurnKey and its momentum over the past year.
Calling technology access the key factor in credit access, Voronenko says the goal of the company was to make it easier for “banks, non-bank lenders, and alternative lending companies around the globe” to access artificial intelligence (AI) powered digital lending technology.
Founded in 2014, TurnKey’s technology supports the complete loan lifecycle, from application processing to collection and reporting, fully automating the process for lenders.
The platform integrates with both internal and external data sources and services, and leverages advanced scoring of applicants to reduce credit risk.