SMBC Asia Rising Fund closes investments in MODIFI, Easy Home Finance, and M2P Fintech

SMBC Asia Rising Fund, the corporate venture capital fund of SMBC Group, has announced its next three investments in startups operating actively in India and Southeast Asia. This marks a significant milestone in SMBC’s continuous commitment to fostering innovation and growth in the region.

The three companies are:

• MODIFI — A leading global platformer for B2B cross-border supply chain finance for 1,800+ SMEs across 55+ countries, based in the Netherlands; MODIFI provides embedded Buy Now Pay Later solution and empower mid-sized companies to participate in global commerce and grow local economies; MODIFI secures USD 15m as a part of its Series C round led by SMBC Asia Rising Fund.
• Easy Home Finance — A leading provider of online mortgages tailored to India’s affordable housing initiatives, leveraging in-house technology such as AI-based underwriting and data-centric property evaluation to enable 60% of customers to complete the loan process digitally via its omnichannel services and mobile app; SMBC Asia Rising Fund participated in the series B round for Easy Home Finance.
• M2P Fintech — A global Banking-as-a-Service platform from India, powering next-gen Fintech, offering API infrastructure with a comprehensive technology stack, including core banking systems, core lending suites, BNPL, credit, debit, and prepaid cards, UPI, and advanced data capabilities — powering over 200 banks, 300+ lenders, and 800+ fintech engagements across 30+ markets worldwide; SMBC Asia Rising Fund has participated in the ongoing Series D round for M2P Fintech.

SMBC believes that there are a lot of synergies and collaboration opportunities between these three investments and the SMBC Group. They are excited to see how these collaborations will emerge and evolve from here and contribute to the growth of the region. SMBC Asia Rising Fund is committed to supporting the growth of India, Southeast Asia, and globally by investing in prominent startups and fostering innovation.

Please follow us to read more about Finance & FinTech in Japan, like hundreds of readers do every day. We invite you to also register for our short weekly digest, the “Japan FinTech Observer”, on Medium, on LinkedIn, or on Substack.

We also provide a daily short-form Japan FinTech Observer news podcast, available via its Podcast Page. Our global Finance & FinTech Podcast, “eXponential Finance” is available through its own LinkedIn newsletter, or via its Podcast Page.

Should you live in Tokyo, or just pass through, please also join our meetup. In any case, our YouTube channel and LinkedIn page are there for you as well.