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Curlec announced yesterday that they have secured funding from 500 Startups. The fintech startup which focuses on simplifying recurring payments said that they will be using the fund to further grow their Malaysian operations through product development, strategic initiatives and market expansion.
The company was launched in 2018 and received its seed funding from Captii Ventures in March 2019. Since its launch, Curlec now serves companies such as AXA Affin, Axiata, and Stashaway, as well as a wide range of SMEs.
“In light of Covid-19, we continue to see growth in our offering, with many traditional businesses having to shift online. Despite the lockdown in Malaysia, we are continuing to average 20% month-on-month growth this year in transaction volumes, which just highlights the current demand that businesses have to move towards online recurring payments. We are thrilled to have a VC like 500 Startups believe in us and support us in this journey,” said Zac Liew, Co-Founder & CEO of Curlec.
“Curlec has successfully gained strong traction in fulfilling the current market needs, in addition to accelerating business performance. There is a huge opportunity for the company to grow in this space, especially now with the unprecedented collaboration between FinTechs and governments in solving national issues of financial inclusion and digitalisation of economies not just in Malaysia, but also with other ASEAN countries on a national FinTech roadmap level,” said Khailee Ng, Managing Partner of 500 Startups.
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