By Yolanda Redrup for AFR
Fintech start-up Bigstone has raised $3 million from a range of investors, including ASX-listed diversified investments and venture capital firm CVC, to grow its small business lending marketplace and offer an alternative to the big banks.
The seed funding round is the first capital raised by the start-up, which connects small businesses wanting to borrow up to $250,000 with non-bank lenders.
Other major investors in the round were the founders of Bangkok-based fund Lighthouse Venture Partners Paniti Junhasavasdikul and Narith Phadungchai, in addition to private investors.
Bigstone co-founder and chief executive Boyd Pederson said the capital would be used to fuel expansion, grow its marketing team and to continue developing the marketplace.