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Focus Southeast Asia News Roundup – Issue #10

Every fortnight we compile a list of important news updates and events covering Southeast Asia FINTECH, MFGTECH, CLNTECH, and AGRTECH sectors.

For a downloadable copy of Southeast Asia Issue #10


Ayala Ventures, Foxmont Capital join Philippine e-commerce enabler Etaily’s US$1.6M seed round
Etaily, an e-commerce enabler in the Philippines, said today it has secured US$1.6 million in seed funding from Ayala Ventures, Foxmont Capital Partners, Magsaysay Shipping & Logistics, the Boston Consulting Group, and unnamed angels.
Alexander Friedhoff is the CEO at Etaily

Revenue-based financing startup Jenfi raises $6.3M to focus on high-growth Southeast Asian companies
Jenfi, a Singapore-based alternative revenue-based financing company for digital-native businesses and startups in Southeast Asia, has raised US$6.3 million in a Series A funding round led by Monk’s Hill Ventures.
Jeffrey Liu is the Co-Founder & CEO at Jenfi

RaRa Delivery gets $3.25M for its ambitious on-demand delivery plans in Indonesia
RaRa Delivery, a startup providing instant delivery service for e-commerce in Indonesia, has secured US$3.25 million in funding co-led by Sequoia India’s Surge and East Ventures
Karan Bhardwaj is the Founder & CEO at RaRa 

Koh Boon Hwee, Patsnap CEO, iGlobe invest in MindFi’s US$750K round as it makes it into Y Combinator
MindFi, a corporate mental health and wellness startup based in Singapore, announced today it has secured US$750,000 in pre-seed funding from a slew of investors, including iGlobe Partners and M Venture Partners
Bjorn Lee is the CEO at MindFi

Mohjo bags seed funding from East Ventures to launch new plant-based foods, beverages
Singapore-based dairy-substitutes brand Mohjo has secured an undisclosed amount of seed funding led by East
Juhi Dang is the Founder & CEO at Mohjo

SubPlace raises US$2.4M for its smart lock product in 4 days of launching ECF campaign
SubPlace, a subscription online shopping startup, said today it has raised US$2.36 million in just four days of launching its equity crowdfunding (ECF) campaign on MyStartr. The startup raised the money for its smart lock product LockIn, and it came from 275 investors.
Mak Wai Hoong is the CEO at SubPlace

BRI Ventures, SBM ITB team up to launch Indonesia’s first venture capital courses
BRI Ventures, an investment arm of Indonesia’s state-owned BRI Group, today announced a collaboration with ITB School of Business and Management (SBM ITB) to launch the country’s first venture capital university courses in 2021.
Nicko Widjaja is the CEO at BRI Ventures

VNG mulling public listing via SPAC merger at US$3B valuation: report
Vietnamese internet giant VNG
Corporation is considering going public in the US via a merger with a special purpose acquisition company (SPAC) at a US$2 to US$3 billion valuation, Bloomberg has reported, quoting unnamed sources.
Minh Le is the Chairman, CEO at VNG

Indonesia-focused Durianpay nets $2m funding, eyes payments modernisation
Durianpay, an Indonesia-focused payments solution startup, has secured US$2 million in funding led by Sequoia India’s Surge, with AC Ventures, Kenangan Fund, and unnamed angels joining the round.
Antara Sara Mathai is the Founder & CEO at Durianpay

Ex-Zalora CEO’s delivery experience platform for e-commerce businesses Parcel Perform lands US$20M
Parcel Perform, a Singapore-headquartered cloud-based delivery experience platform for
e-commerce businesses, announced today that it has secured US$20 million in Series A investments led by Cambridge Capital.
Arne Jeroschewski is the Founder & CEO at Parcel Perform

Meet the new batch of 8 Vietnamese startups joining VSV Capital’s accelerator programme
Vietnam Silicon Valley (VSV) Capital announced today it has invested up to US$50,000 each in eight startups through VSV Capital Accelerator Batch 7. They range from logistics, education to recruitment and sports.
Tra Hoang is the Managing Director at VSV Capital

Two months after its Series A, Pintu gets $35M in new funding led by Lightspeed
Pintu, a mobile-first crypto wallet and trading platform in Indonesia, has secured US$35 million in an extended Series A financing, led by Lightspeed Venture Partners.
Jeth Soetoyo is the Co-founder & CEO at Pintu

Finch Capital-MDI Ventures JV ‘Arise’ hits first close of US$40M fund, to back 25 ASEAN startups
Arise, a joint venture by Finch Capital and MDI Ventures, has announced the first close of its US$40-million debut fund.
Aldi Adrian Hartanto is the Partner at Arise

Bukalapak raises US$1.5B on the first day of its IDX debut, shares jump 25 per cent
Indonesian e-commerce giant Bukalapak today made its debut on the Indonesia Stock Exchange, raising US$1.5 billion in its initial public offering (IPO).
Rachmat Kaimuddin is the CEO at Bukalapak

Lucy, a Singaporean neobank focused on women entrepreneurs, bags seed funding
Lucy, a neobank focused on women entrepreneurs, has secured an undisclosed amount in seed financing from Hong Kong-based global investment firm EmergeVest at a US$10 million valuation.
Debbie Watkins is the CEO & Co-founder at Lucy

Thai accounting SaaS startup FlowAccount nets US$4M to scale its small biz offering
Thai accounting SaaS firm FlowAccount has raised US$4 million in a Series A round led by Sequoia Capital India, Tech In Asia reports.
Kridsada Chutinaton is the CEO & Co-founder at FlowAccount

SG proptech startup Ohmyhome to boost data-matching technology after raising $5m
Ohmyhome, a one-stop-shop property platform based in Singapore, has secured US$5 million in a fresh round of financing from local investor Swettenham Blue.
Rhonda Wong is the CEO at Ohmyhome

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