Credit Management Leader Flow Completes US$6M Series A Funding with a Rebrand

12th May 2020, Company News

SINGAPORE—May 2020—Previously known as AsiaCollect, Flow, the pioneering credit management company bringing international standards of ethical debt collection to the Non-Performing Consumer Loans (NPL) market in Asia, announced today its Series A funding of US$6 million.

The round is led by global institutional investors DEG, a development finance institution and a subsidiary of KfW Group of Germany; Dymon Asia Ventures; SIG Asia; and SCB10X, the venture arm of Siam Commercial Bank.

This milestone is accompanied by a company-wide rebranding. The name change is a part of Flow’s strategy to redefine effective credit management. The company remains committed to promoting ethical debt collection and improving consumers’ financial literacy in underserved economies in Asia.

This round of financing will fund Flow’s growth initiatives including the company’s geographical expansion and the ongoing development of Artificial Intelligence (AI) models such as predictive analysis of borrowers’ behaviours and speech recognition enhancement.

“Collections has been largely an untapped market in Asia,” explains Mukaya (Tai) Panich, Chief Venture and Investment Officer of SCB10X. “We are excited to be a part of Flow, because it is capturing this opportunity and leveraging AI to make collections more efficient and seamless.”

Since 2016, Flow has achieved growing recovery rates and consumer engagement through its AI-powered automation and customer-centric collections strategies. Understanding consumer behaviour is the key driver for effective debt recovery. This personalised approach is not only making a positive impact on a neglected industry, but also empowering close to 2.8 million borrowers represented in the portfolios.

A veteran of the banking industry, Co-Founder and CEO Tomasz Borowski has long witnessed the brutal and unprofessional practices conventional debt collection agencies utilise to retrieve outstanding balances.

“By implementing advanced technology to humanise debt collection, and firmly supporting only responsible lenders, we are proving every day that the collections market in Asia can be transformed,” explains Tomasz.

“Amidst a challenging COVID-19 environment, the funding attests to the trust that our investors have placed in both our team and our business model.”

On rebranding, Tomasz adds, “Flow as a new brand signifies our evolving position, growing as a credible and tech-driven partner. Unwavering commitment to our values remains the same—serving consumers ethically and responsibly.”

The company has also embarked on immediately looking to raise a Series B round (a combination of equity and debt) for debt portfolio purchasing. This will assist lenders in cleaning up their balance sheet caused by COVID-19 led NPL surge.

About Flow

Founded in 2016, Flow is a credit management company that is transforming the business of unsecured consumer finance through AI technologies and ethical practices in the APAC region. Redefining debt collection begins with creating personalised, digital-first experiences that help consumers overcome their financial difficulties. Flow’s data-driven collection strategies have proven remarkable recovery rates for top financial institutions and have supported over 2.8 million consumers to date. Headquartered in Singapore, the company launched in Vietnam and has since expanded to Indonesia and India.

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