In today’s briefing:
- Filipino Consumer Fintech Startup Salmon Nets US$20M Debt Financing
- Indian Deeptech Startup Ethereal Machines Raises $7.3m
- Vietnamese EWA Startup Gimo Adds $12m to Series A Round
Filipino Consumer Fintech Startup Salmon Nets US$20M Debt Financing
- Salmon, a consumer fintech company based in the Philippines, has secured a US$20 million debt facility from US emerging-markets specialist investment firm Argentem Creek Partners.
- This will allow Salmon to scale its lending operations across the country further.
- The fintech firm will expand its loan book, leveraging its existing point-of-sale and cash loan lending, and launch new products in the second half of 2023.
Indian Deeptech Startup Ethereal Machines Raises $7.3m
- Investors such as Peak XV’s Surge, Blume Ventures, and Mathew Cyriac, former head of Blackstone India, have backed the US$7.3 million round of India-based Ethereal Machines.
- Based in Bangalore, Ethereal Machines uses proprietary Computer Numerical Control machines, such as drills and mills, to produce precision engineering components for aerospace, automobile, and healthcare use.
- The company said that its offerings reduce costs by 30% and production lead times by 40%.
Vietnamese EWA Startup Gimo Adds $12m to Series A Round
- Gimo, an earned-wage access player in Vietnam, has raised US$17.1 million in its series A round led by TNB Aura.
- Participating investors also include Y Combinator, Integra Partners, ThinkZone Ventures, AlteriQ Global, among others.
- This series A round was closed just five months after the company secured US$5.1 million in the first tranche.
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