In today’s briefing:
- East Ventures Pours Seed Funding into Indonesian Online Kitchen Startup
- Fazz Secures US$100M Series C to Grow Its Lending Services, Expand Team in SEA
- Glife Technologies Raises US$3M Series A+ to Connect Restaurants with Farmers
- SG Fintech Firm M-Daq Expands into Japan with New Office
East Ventures Pours Seed Funding into Indonesian Online Kitchen Startup
- Food delivery is the digital sector with the highest adoption in Southeast Asia. The pandemic gave the segment a huge boost, as people were forced to stay at home.
- Local food startup Uena tried to solve this by building a network of online kitchens that can deliver these meals directly to customers.
- It targets lower and middle-income segments, such as office workers, university students, convenience store employees, and couriers of food delivery apps.
Fazz Secures US$100M Series C to Grow Its Lending Services, Expand Team in SEA
- Fazz claims it saw US$10B in annualised transaction volumes over the past year and looks to double the volumes in the next 12 months
- Fazz, a digital financial services group dual-headquartered in Singapore and Indonesia, has announced a US$100 million Series C funding round.
- Fazz will use the funds to grow the business and expand its teams in Singapore, Indonesia, Malaysia, Vietnam and Taiwan from 800 to 1,400.
Glife Technologies Raises US$3M Series A+ to Connect Restaurants with Farmers
- Glife Technologies aggregates demand for food produce from restaurants and match it with suppliers, giving restaurants better access to a variety of products
- Singapore-headquartered Glife Technologies, a B2B marketplace to connect restaurants with farmers, has extended its Series round with a US$3 million investment from Tin Men Capital.
- Glife will use the fresh funds to accelerate the launch and operations of its digital marketplace for F&B suppliers and merchants in Q42022 and enlarge its market share in the Indonesian market.
SG Fintech Firm M-Daq Expands into Japan with New Office
M-Daq Global, a Singapore-based fintech firm that provides forex solutions, has opened an office in Japan as part of its international expansion plans.
- The move comes after the company expanded into European markets by signing an agreement with London-based trading platform Turquoise to provide multiasset services.
- The company has processed over US$32 billion in cross-border transactions over 45 markets since the launch of its Aladdin FX ecommerce solution in 2016.
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