Data Vantage | BillEase, Umami Bioworks, Lhoopa and Pallav Tech in focus
Edition #409, 24 September 2024
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Dear Reader,
Philippine consumer finance startup BillEase received capital from The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, and existing investor Burda Principal Investments last week.
According to the company’s regulatory filings in Singapore, it bagged [redacted] million from the two investors, with TPG’s The Rise Fund contributing [redacted] million alone. The investment is part of a Series C round announced earlier this month. BillEase did not disclose the amount raised in the round.
The filings further show that The Rise Fund has bought additional shares in BillEase from [redacted]; KB Fintech Innovation Fund, a venture capital fund managed by KB Investment; and 33 Capital. Another shareholder, Seawood Capital, also sold some shares to Ritche Lim Weekun last week.
BillEase reported a net profit of $6 million and revenue of $55.3 million for the financial year that ended December 31, 2023.
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Other updates from DATA VANTAGE
Cultivated seafood company Umami Bioworks issued shares worth [redacted] million to Aqua-Spark, Henry Soesanto, SEEDS Capital, Y Combinator, Sandhya Sriram and others last week. Some of these shares have been allotted to previous shareholders, including SAFE holders, and executives at Shiok Meats, which was acquired by Umami Bioworks earlier this year.
Dutch investor Aqua-Spark, which had invested $5 million in Shiok Meats in 2020, received shares worth [redacted] million in the seafood firm. Its investment team chief, Frank van Roest, will join Umami Bioworks’s board.
Proptech firm Lhoopa received $9.5 million last week from Pavilion Capital, 10X Group and a co-investment vehicle of International Finance Corporation (IFC) and venture capital firm Wavemaker Partners. The investment is part of an $80 million debt-and-equity round announced in April.
[Redacted], the corporate venture capital arm of global payments firm [redacted], has bought secondaries in Indonesia’s Pallav Technologies. The latter uses artificial intelligence (AI) to evaluate credit and other assets and caters to banks, fintech firms and other lenders.
Medtech company ABM Respiratory Care, which focuses on developing and commercialising airway clearance and ventilation solutions, has received [redacted] million from Singapore-based medical devices maker Advanced MedTech, SEEDS Capital and other investors.
Bahrain-based Winterhold Global has sold its entire stake in Singapore-registered insurtech firm Alpha Direct, which is focused on African markets, to Dubai-based Century Oak Ventures.
Nikkei-backed datatech company Handshakes received [redacted] million from SPH Media last week. The company’s other shareholders include S&P Global.
VC firm [redacted] has bought additional shares in Vietnam-based creator economy platform METUB from Malaysia-based digital media firm WebTVAsia.
Circular economy technology company ecoSPIRITS bagged $821.7k from Proterra Asia, Closed Loop Partners and Wavemaker Partners last week.
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