Data Vantage | Funding for Flipkart Marketplace and Bizbaz, and other updates
Edition #214, 6 Oct 2022
Dear Reader,
Walmart-owned Indian e-commerce company Flipkart has injected an additional $25 million into its marketplace unit Flipkart Marketplace Private Limited, taking its total investment in the unit so far this year to $608 million.
The additional investment comes less than a month after Flipkart invested $30 million in the unit as the Bengaluru-based company looks to scale many of its new businesses.
Meanwhile, Singapore-based firm Bizbaz, which offers risk assessment, alternative credit scoring and fraud detection solutions, raised nearly $4 million last week in a seed funding round led by HSBC Asset Management.
The lead investor contributed $3 million to the round, which was also joined by Vynn Capital, SOSV and other individual investors. Bizbaz also allotted seed shares to SOSV and Artesian, both of which had provided it funding previously under an Accelerator Contract for Equity (ACE) agreement.
Top shareholders in Bizbaz
Source: DATA VANTAGE
Other updates from DATA VANTAGE
Singapore-domiciled digital payroll platform Skuad allotted shares worth $5.75 million to investors, including Go-Ventures and US-based recruitment firm Mindlance, last week. Go-Ventures also picked up Skuad shares from its founder Sundeep Sahi and Providentia Wealth, providing an exit to the latter.
Indonesian B2B marketplace Ralali allotted Series C preference shares to DG Daiwa Ventures last week upon conversion of notes issued previously. The company had secured an additional $2 million in Series D funding in September.
Anymind Group, an e-commerce enabler, injected $4 million into its Singapore entity last week.
London-headquartered resale-as-a-service platform Reflaunt received nearly $2.3 million last week from duty-free retailer Global Blue and US retail conglomerate Madaluxe.
The Singapore unit of e-commerce giant Tokopedia saw its losses balloon nearly 18 times in the financial year ended Dec 31, 2021, while its revenue grew more than 26%.
Mintable, a Singapore-headquartered NFT marketplace backed by billionaire investor Mark Cuban, reported a net profit before interest of $2.6 million for the financial year ended Dec 31, 2021.
Indian healthcare startup Healthi reported a 65% increase in revenue in the financial year ended Mar 31, 2022, while ??Singapore-based customer loyalty platform Perx Technologies reported a 50% revenue growth in the same period.
Freshkon, a Singapore-based eyewear company, reported a 38.3% increase in revenue in the financial year ended December 31, 2021. The company reported a profit of $0.6 million in the period.
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