Validus buys KlearCard platform to bolster upcoming SME neobank

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Singapore-based SME financing player Validus has acquired KlearCard’s business payments and expense management technology platform. Financial terms were not disclosed.

Validus says the KlearCard platform, an established player with a proven product-market fit in the region, will accelerate its build-out of Southeast Asia’s first credit-led SME focused neobank.

KlearCard’s platform enables businesses to issue virtual corporate cards instantly with built-in spend control features. This, says the firm, creates time and cost-saving benefits and addresses a pain point of many SME owners, who lack a single place to get an overview of their business.

Nikhilesh Goel, CEO, Validus, says: “With the acquisition of KlearCard, we are well-positioned to strengthen our support for SMEs with one-stop financial management solutions that make it easier for them to grow and manage their business digitally.”


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