Seedflex Technologies has secured a $3.2 million seed extension round co-led by Z Venture Capital (ZVC) and Iterative, with participation from existing investor 500 Global and strategic angel investors, to scale its embedded lending platform for underserved merchants in Southeast Asia.
Founded in 2023, Malaysia-based Seedflex offers a proprietary “Pay-As-You-Sell Advance” (PAYS Advance) solution that provides dynamic credit based on merchants’ daily sales performance.
The firm enables merchants to borrow against future revenues and repay through a fraction of sales, with no interest or late fees.
Seedflex’s Co-Founder Ritwik Ghosh said access to flexible credit is vital for the survival and growth of micro, small, and medium enterprises (MSMEs), particularly during economic uncertainty.
“These businesses form the backbone of all economies, and yet in emerging Asia many continue to face huge challenges in securing financial resources,” he said.
The company, which launched operations in Malaysia in June 2024, reports 35% average month-on-month revenue growth and expects to break even by mid-2025.
Over 5,000 merchants have received credit offers through the platform, which integrates with partners including Curlec, senangPay, and ipay88.
ZVC Principal Janice Sa said Seedflex’s model lowers capital costs through daily collections.
“It’s a game changer,” she said. Iterative’s Brian Ma added that Seedflex’s founders, both former Grab executives, “know this problem inside out.”
The capital will support Seedflex’s planned expansion into Indonesia and other Southeast Asian markets. The company aims to serve 50,000 merchants by end-2025.
Business News Asia