*Series A round was led by SBI Group alongside SMBC
*Through its digital platform - banco, the firm delivers sector-focused and 
green financing solutions for MSMEs in Southeast Asia

Singapore-headquartered fintech company banco (RABC Group) yesterday announced 
the successful raise of US$6.7M in Series A funding led by Japan-based leading 
financial group SBI Group, alongside investors Sumitomo Mitsui Banking 
Corporation (SMBC), R3, Savills, KZM & Company, and others.

With this fundraise, banco will look towards recruiting talents with technology 
and business development expertise, as well as market expansion within 
Southeast Asia.

Founded in 2018, banco (RABC Group) is headquartered in Singapore with 
subsidiaries in China and Japan. The banco platform leverages the digital 
capabilities of the RABC group's expertise in Micro, Small and Medium 
Enterprises (MSME) lending and close industry partnerships, to develop 
sector-focused and sustainable financial solutions for MSMEs.

"We are excited to lead banco's Series-A fundraising together with our 
strategic partners, SMBC and R3. There would be collaborations among SBI, SMBC, 
R3, and banco, to offer more inclusive financing solutions and achieve ESG 
targets for SMEs in Asia. We believe that banco will grow to be the leader in 
its sector." says Yoshitaka Kitao, CEO, SBI Holdings.

The SBI Group, founded in 1999, has achieved significant growth by offering 
varieties of financial services beneficial to consumers by riding the two major 
trends of "financial deregulation" and the "Internet Revolution."

"With this new round of fundraising, we are looking to the future where the 
group can use our existing fintech capabilities to build better sustainable 
financial infrastructure for MSMEs in Asia, and to expand regionally. We are 
excited, yet humbled by the trust and support from our clients, partners, and 
investors as we develop new capabilities and unlock new opportunities in this 
financial transformation era. In Southeast Asia, MSMEs contribute more than 50% 
of ASEAN countries' GDP, but still face challenges with securing financing to 
cover the needs of their business. As ASEAN is adapting to climate change, it 
is increasingly important to ensure that MSMEs are included and incentivised to 
become greener and sustainable. Technology and new data-driven financial 
products will play an important role in improving the access to sustainable 
finance for MSMEs." said Lincoln Yin, Co-founder & CEO, banco (RABC Group).

SOURCE: banco (RABC Group)