SEA roundup: GoComet raises US$7M, Brick bags US$8.5M, Razorpay acquires Curlec

Indonesian API provider Brick bags US$8.5M seed funding

Indonesia-based fintech API provider Brick has secured US$8.5 million in a seed round of investment.

Lead investors are Flourish Ventures and Antler. Co-investors include Trihill Capital, Better Tomorrow Ventures, and Rally Cap Ventures.

Brick will use the money to achieve its mission of powering the next generation of fintech companies with easy-to-implement, cost-effective, and inclusive fintech infrastructure. It will also look to hire senior talents.

Established in 2020 by Gavin Tan, Brick builds APIs for tech companies, making it easier for them to offer payment, credit, investment, and insurance products to their consumers by connecting those platforms with hyperlocal data sources.

It has around 50 paying clients, including Sinarmas Group and Astra Financial.

Singaporean logistics firm GoComet banks US$7M Series A

Singapore-based logistics firm GoComet has bagged US$7 million in a Series A round of financing.

Lead investors are Rider Global and Atlas Ventures. Co-investors are Jetty Ventures, Rebright Partners, Leo Capital, and Krishna Capital.

The startup will use the fresh funds to develop its platform and grow its business in Europe and the US.

Also Read: Logistics SaaS platform GoComet secures US$2.2M Series A funding

This deal takes its total funding raised to date to US$9.5 million.

Founded in 2018, GoComet uses deep-learning algorithms to automate end-to-end logistics operations for companies. The firm allows firms to reduce freight costs, track shipments in real-time, and optimise operations.

Its clients include Sun Pharma, Sapmer, Glenmark, Polyplex, Alliance Tires, Lupin, and ACG.

Razorpay acquires Malaysian fintech firm Curlec

India-based payment gateway company Razorpay has announced its international expansion with the acquisition of a majority stake in Malaysian fintech firm Curlec.

Curlec is a Kuala Lumpur-based company building solutions for recurring payments for businesses of all sizes.

Razorpay said in a statement that it sees great potential in the Southeast Asian market. While e-commerce is already booming in Malaysia with estimated market size of US$21 billion in 2021, an industry report says it is estimated to grow further to over US$35 billion by 2025. Malaysian shoppers are also more open to cross-border purchases, which account for 40 per cent of all transactions.

“With the entry of new e-commerce consumers, we believe that a broader range of payment services will be required to cater to their needs. We are confident that our partnership with Curlec will open up newer channels for global business expansion for online businesses in India and Malaysia,” said the statement.

Curlec works with hundreds of businesses across Malaysia, including AXA, Funding Societies, and Axiata Digital. The company builds new-age technology solutions on top of existing payments infrastructure to make it easier for businesses to collect recurring payments.

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