In today’s briefing:
- B2B firm Metalbook proves its mettle, raises $15m
- ProCredit closes $4.1m pre-seed round
- Achmad Zaky, 500 Global invest in Indonesian e-commerce enabler Komerce | e27
- Wavemaker Impact backs AI-powered green asset fintech financier Refy | e27
B2B firm Metalbook proves its mettle, raises $15m
- While some B2B ecommerce firms are struggling, others are thriving. India-based Metalbook, a B2B platform focused on the global metal supply chain, said it is eyeing US$200 million in annualized revenue run rate by the end of the 2024 fiscal year.
- Founded in 2021, the startup has raised US$15 million in a series A round led by Rigel Capital. FJ Labs participated, as well as existing investors Axilor Ventures and Stride Ventures, among others.
- Metalbook helps customers through their entire metal manufacturing and procurement cycle. This includes everything from buying and selling to customization, logistics, scrap recycling, as well as financing.
ProCredit closes $4.1m pre-seed round
- In the Philippines, a staggering 99.5% of all businesses are SMEs.
- As of last year, 67% of local SMEs grappled with credit constraints – a lot of business owners found the friction that comes with traditional bank loans too much of a hassle.
- One startup looking to solve this issue is ProCredit, a Filipino lending firm that engages business owners with its senior decision-makers from the get-go.
Achmad Zaky, 500 Global invest in Indonesian e-commerce enabler Komerce | e27
- Komerce, an e-commerce enabler for small-to-medium enterprises (SMEs) in Indonesia, has received an undisclosed investment from Bukalapak co-founder Achmad Zaky and 500 Global.
- The funding will allow Komerce to accelerate product development and customer acquisition.
- Founded in 2020 by Darmawan, Syaefullah Syeif (COO), and Satriyo Budi Utomo (CTO), Komerce offers remote team development, shipping aggregators, e-fulfilment, omnichannel SaaS, and customer relationship management.
Wavemaker Impact backs AI-powered green asset fintech financier Refy | e27
- Refy, an AI-powered green asset fintech financier in Southeast Asia, has secured a pre-seed investment of US$525,000 from Wavemaker Impact (WMi).
- This funding will allow Singapore-based Refy to execute secured pilot projects, develop its technical platform, and assemble a specialised team with experience in green assets and industrial projects.
- Globally, there are investors to support large-scale projects (worth upwards of US$5 million), such as solar, wind, hydro farms, and geothermal facilities.
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