The fintech plans to use the funding “to take advantage of new opportunities in embedded lending adoption macro trends across North America, Europe and Southeast Asia”
TurnKey Lender, a provider of lending automation and embedded financing software, has closed a US$10 million funding round.
The fintech plans to use the funding “to take advantage of new opportunities in embedded lending adoption macro trends across North America, Europe and Southeast Asia”, from its bases in Singapore, London, Kuala Lumpur, Warsaw and Austin, Texas.
Founded in 2014, TurnKey offers an all-in-one SaaS platform that automates the digital lending process, serving 180 clients and 50 million end users in more than 50 countries.
Its software is used by traditional, alternative, and embedded lenders such as fintechs, telecoms, retailers medical, and B2B lenders, including Esusu, Globe Telecom and aMark.
OTB Ventures led the fintech’s latest funding round, with participation from early backers including DEG and Vertex Ventures.
TurnKey Lender has also expanded its leadership team with the appointment of Christian Moralesas as chairman of the board.
Moralesas participated in the funding round and brings more than 40 years of senior experience in leading global tech institutions to the role.
Dmitry Voronenko, chief executive officer and co-founder of TurnKey Lender, said: “We are pleased to have raised our latest level of funding and to continue partnering with great investors. This will turbocharge the next stage of our growth. We believe that embedded lending will soon be part of any customer relationship globally.”