Fintech remains a popular sector in terms of early stage funding rounds, though we also see a greater variety in terms of solutions provided
If there is one theme that seems to dominate the early-stage funding rounds in September, it would be fintech.
Throughout the month, e27 covered at least five seed and Series A funding rounds being raised by tech startups in Southeast Asia. The services that they offer varied from digital banking to digital payments.
Foodtech and healthtech also maintain its popularity, though we also noticed the return of the online marketplaces with a funding round by an Indonesian rental marketplace platform.
Check out those most notable funding rounds:
CUMI
Funding: Undisclosed seed funding
Investor(s): East Ventures
An Indonesia-based rental marketplace platform, CUMI wants to use the funding to speed up their user’s growth, acquire more talents, and expand their coverage in Indonesia.
Thuocsi.vn
Funding: US$500,000 in seed funding
Investor(s): Cocoon Capital, VietCapital Ventures
A Vietnam-based pharma distribution marketplace operated by BuyMed, Thuocsi.vn aims to add other healthcare verticals including cosmetics, medical devices, supplements, and medical services to become a one-stop marketplace for healthcare practices in emerging markets.
PrivyID
Funding: Undisclosed Series A+
Investor(s): Telkomsel Mitra Inovasi (TMI)
An Indonesia-based digital identity provider, PrivyID will see its services being integrated into Telkomsel’s platform in the future.
iSTOX
Funding: Undisclosed Series A
Investor(s): Kiatnakin Phatra Financial Group (lead)
Operating under the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox, iSTOX is established and operated by ICHX Tech.
PayMongo
Funding: US$2.7 million in seed funding
Investor(s): Founders Fund, Peter Thiel, Stripe, Y Combinator, Global Founders Capital, Soma Capital, Tinder Co-founder Justin Mateen, angel investors
Founded by Francis Plaza (CEO), Luis Sia (COO), Jaime Hing (CTO), and Edwin Lacierda, PayMongo offers easy ways for merchants to receive payments online. The startup also offers an API platform that allows businesses to add payments into their websites, services or apps.
COVE
Funding: US$2+ million in Seed Funding
Investor(s): Venturra Capital, Yuj Ventures, Investigate, Picus Capital, Aetius Capital, Found Ventures, angel investors
The Singapore-based co-living space provider plans to use the capital to expand its presence in Southeast Asia and build out its technology.
FunNow
Funding: Undisclosed Series A+
Investor(s): CSV Venture Fund II
An instant booking app for entertainment and leisure activities in Taiwan, FunNow aims to expand its team and merchant supplies and continue “efforts into connecting life circles in different East Asian cities.” It also aims to serve travellers to Tokyo for 2020 Tokyo Olympic.
Crowde
Funding: US$1 million Pre-Series A
Investor(s): Mandiri Capital Indonesia
Along with the funding, Mandiri also participates as an institutional lender for credit loans through Crowde for US$7.1 million.
Julo
Funding: US$10 million in Series A+
Investor(s): Quona Capital, Accion, Skystar, East Ventures, Provident, Gobi Partners, Convergence Ventures
The new funding will provide growth capital to help Julo expand its business and build enhancements to its proprietary credit scoring technology.
myTukar
Funding: US$30 million in Series A
Investor(s): Carro
Malaysia-based car bidding platform myTukar will use Carro’s technology to “digitally enable the traditional used car dealerships across Malaysia and boost inter-city car sales”.
SEPPURE
Funding: US$2.55 million in Seed Funding
Investor(s): SOSV, Entrepreneur First (EF), 500 Startups, SGInnovate, Koh Boon Hwee (Chairman of Nanyang Technological University (NTU) Board of Trustees, Credence Partners, Yeo Hiap Seng, and Far East Orchard), Rekanext, Belmond Capital, et cetera
SEPPURE creates sustainable nanofiltration solutions to separate chemical mixtures at a molecular level with minimal energy use.
Pluang
Funding: US$3 million in Series A
Investor(s): Go-Ventures
Previously known as EmasDigi, Pluang is an Indonesia-based fintech startup providing digital micro-savings.
Also Read: More details emerge on early stage funding round for Indonesian agritech startup Sayurbox
SuperAtom
Funding: US$24 million
Investor(s): Gobi Partners, Cheetah Mobile
In addition to the funding, Cheetah Mobile will contribute to the use of its user traffic and big data platform to enable SuperAtom to develop a risk management system for the company’s businesses.
Jala Tech
Funding: Undisclosed Seed Funding
Investor(s): 500 Startups, Conservation International Ventures, Hatch Accelerator Holding
The current investment round will enable them to enter the Indonesian market as an early adopter and fund the development process of the products.
Hoow Foods
Funding: US$1.2 million in Seed Funding
Investor(s): Killiney Group, Innovate360, TRIVE Ventures, angel investors
With the injection of the seed funding investment, Hoow Foods said that it plans to develop and focus on its Research and Development and human resources.
Oneberry
Funding: US$22 million in Series A
Investor(s): CMIA Capital Partners, Bintang Capital Partners Berhad
An end-to-end security and surveillance solution provider, Oneberry plans to expand its offerings while taking its products and services to a larger regional scale.
Rever
Funding: US$2.3 million
Investor(s): GEC-KIP Technology and Innovation Fund
The investment will help the Ho Chi Minh City-based startup to deepen its presence in the home country, where over 200,000 real estate transactions take place each year.
Aspire
Funding: US$32.5 million in Series A
Investor(s): Beacon VC, Y Combinator, Mass-Mutual Ventures (MMV) Southeast Asia, Insignia Ventures Partners, Hummingbird Ventures, Silicon Valley’s Arc Labs, Picus Capital
Through this partnership, KBank and Aspire aim to work together to digitise banking to small-and-medium-sized enterprises (SMEs) and online merchants in Thailand.
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The e27 Startup Database connects the community to the hottest internet companies in Asia. We encourage startups to visit their profile and regularly update their information.
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