PETALING JAYA: Kenanga Investment Bank Bhd
has partnered with Singaporean financial technology (fintech) firm Helicap Pte Ltd, in a move to further advance its digitalisation initiatives.
As part of this partnership, Kenanga group, through a fund managed by its asset and wealth management arm, Kenanga Investors Bhd has acquired an 8% stake in Helicap, Kenanga said in a statement.The investment formed Helicap’s series B funding round, which saw Kenanga group as lead investor alongside Saison Capital Pte Ltd, the corporate venture capital arm of Credit Saison.
Kenanga group’s stake will be further increased to 10%, making Kenanga group the largest institutional investor in Helicap.
Kenanga group managing director Datuk Chay Wai Leong stated that by prioritising digital innovation, the group has created multiple touchpoints to allow clients to engage with its services more efficiently and effectively.
“Our investment into Helicap is a natural progression in our digitalisation journey as Helicap’s proprietary technology can potentially be embedded into Kenanga’s own lending and investment banking business seamlessly,” he said.
