Singapore-based private credit investment platform Kilde has secured US$1.5m (£1.1m) in a pre-Series A financing round led by Purple Ventures, with participation from existing investors, as it plans to scale its platform.
Kilde will use the funding to invest in its team and technology infrastructure, and to expand capital markets capabilities, and grow the business, with assets under management (AUM) having exceeded $127m.
Read more: Private credit market predicted to grow by up to $300bn by 2030
Radek Jezbera, co-founder and chief executive of Kilde, said the platform is targeting $1bn in AUM.
Founded in 2019, Kilde connects family offices, funds, and accredited investors to private credit opportunities across Europe and Asia, specialising in senior-secured lending to consumer and SME lending platforms.
In a press statement, the company pointed out that the private credit market is set for sustained growth, with BlackRock projecting private credit AUM could reach $4.5tn by 2030.
Read more: Private credit’s consolidation season
“We are delighted to be a part of Kilde as early equity investors starting in 2020,” said Jan Stanek, managing director at Purple Ventures.
“As we saw the platform’s exponential growth over the past two years, we gained full confidence in Kilde’s team and business model. Thus, we decided to lead a new investment round and provide growth capital with our second fund.”
“With Purple Ventures’ support and the continued backing of our existing investors, we are building a scalable, institutional-grade platform in a market where demand is only increasing,” added Jezbera.
Read more: Arch secures $52m in Series B funding round
