In today’s briefing:
- Drive Lah banks $5m in funding led by ComfortDelGro
- Funding Societies raises US$7.5M debt financing from Norway’s state-owned Norfund | e27
- SG-based Lendela raises $5m to fuel expansion in Asia Pacific
- Wavemaker Partners joins Indian astrology app VAMA’s US$1.5M seed round | e27
Drive Lah banks $5m in funding led by ComfortDelGro
- Drive Lah ComfortDelGro seems to be increasing its involvement in the automotive startup space this year.
- The Singapore-based taxi firm backed mobility-focused impact fund Shift4Good in January and battery recycling startup Neu Battery Materials in July.
- Most recently, ComfortDelGro invested US$2 million in Drive Lah.
Funding Societies raises US$7.5M debt financing from Norway’s state-owned Norfund | e27
- Digital finance platform for SMEs in Southeast Asia, Funding Societies (Modalku in Indonesia), has secured US$7.5 million in debt funding from Norwegian government-owned development financial institution (DFI) Norfund.
- The fintech lender will channel the funds via its tailored financing solutions to the SME segments across all five markets.
- This is Norfund’s first debt transaction with a fintech SME lender in Southeast Asia.
SG-based Lendela raises $5m to fuel expansion in Asia Pacific
- Lending platform Lendela said it hit profitability in Singapore and Hong Kong, as well as doubled its revenue growth in the past year.
- The Singapore-based company is now looking to expand its presence across Asia Pacific.
- To bankroll these plans, Lendela has secured US$5 million in a series A funding round led by Chocolate Ventures.
Wavemaker Partners joins Indian astrology app VAMA’s US$1.5M seed round | e27
- Singapore-based early-stage VC firm Wavemaker Partners has led the US$1.5 million seed extension investment round for VAMA, a one-stop virtual platform providing easy access to an array of services for one’s religious and spiritual journey.
- This marks Wavemaker’s maiden investment in an India-incorporated startup.
- The deep-tech investor infused US$1.1 million into the startup, while the rest came from existing investors, such as Lisa Gokongwei-Cheng and Harit Nagpal.
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