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Fintech Asia Limited ( (GB:ICFG) ) has shared an update.
ICFG Limited has secured a second major drawdown from its previously arranged syndicated financing facility, with Pocket NBFI receiving additional disbursements totaling about US$10 million in USD and SGD. This brings total drawings under the US$25 million facility to roughly US$21 million, leaving US$4 million available to further support lending operations.
The new capital injection will bolster Pocket NBFI’s lending capacity and be used to drive the continued expansion of its digital financial services platform in Mongolia. The financing, arranged with Helicap and other lenders, reinforces ICFG’s strategic focus on addressing the large credit gap in Asia-Pacific and supporting micro, small and medium-sized enterprises and individuals who are underserved by traditional banking channels.
More about Fintech Asia Limited
ICFG Limited is an international financial services group focused on expanding digital financial access in emerging markets, particularly for underbanked and unbanked populations. Through its subsidiary Pocket NBFI, the Group operates Pocket, a proprietary fintech application in Mongolia that serves over 875,000 registered customers as a financial marketplace linking users with multiple financial service providers.
Average Trading Volume: 57,549
Technical Sentiment Signal: Sell
Current Market Cap: £32.63M
For detailed information about ICFG stock, go to TipRanks’ Stock Analysis page.