In today’s briefing:
- India-Based Credgenics Banks $50m to Simplify Debt Resolution
- Singapore’s Waste Management Firm Blue Planet Gets Bintang Capital’s Backing
- Baskit Raises US$3.3M in Seed Funding to Empower Indonesia’s Distribution Infrastructure
- Iterative Leads ID Proptech Firm Goro’s $1m Round
India-Based Credgenics Banks $50m to Simplify Debt Resolution
- India-based Credgenics, a loan collection services firm, has raised US$50 million in its series B funding round led by Accel and WestBridge Capital.
- It will use the new capital to diversify its offerings and reach other client segments. Credgenics also looks to expand its international business.
- The company’s geographical expansion will primarily focus on countries such as Indonesia and Vietnam, which share similarities with India’s credit market.
Singapore’s Waste Management Firm Blue Planet Gets Bintang Capital’s Backing
- Singapore-based waste management company Blue Planet has secured an undisclosed sum in funding from Malaysian PE firm Bintang Capital Partners.
- The startup will utilise the capital to expand its operational teams and waste management technologies to pave the way for handling a broader range of waste types in current and emerging markets.
- Founded in 2017 by Madhujeet Chimni, Prashant Singh, and Bharadwaj Chivukula, Blue Planet provides waste collection, transportation, segregation, processing, and treatment services.
Baskit Raises US$3.3M in Seed Funding to Empower Indonesia’s Distribution Infrastructure
- Baskit, a startup that focuses on digitalising and growing distribution businesses in Indonesia’s supply chains, today announced that it had raised US$3.3 million in seed funding.
- The funding round comes from Betatron Venture Group, Forge Ventures, Investible, 1982 Ventures, DS/X Orvel, Michael Sampoerna, and other prominent global and regional angels.
- It followed a US$1.5 million pre-seed funding round that Baskit announced in March.
Iterative Leads ID Proptech Firm Goro’s $1m Round
- Proptech firm Goro is betting on fractional property investments in Indonesia. With its namesake being derived from the Indonesian term Gotong Royong or mutual cooperation, its platform allows users to purchase a fraction of a property starting from US$0.7.
- Returns come in the form of monthly paid-out rental income and capital gains when the property is sold.
- Since launching earlier this year, Goro said its user base has grown 15% per week. The company added that its current portfolio, which is picked by professional property managers, is generating 11% net annualized rental yield for its users.
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