Data Vantage | Funding Societies, Finn, Lifepal, SCI Ecommerce and Buymed report updates
Edition #337, 09 January 2024
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Funding Societies, a fintech lending firm based in Southeast Asia, received [redacted] million from Khazanah Nasional, Malaysia’s sovereign wealth fund, and CGC Digital, a Malaysian fintech company, last week.
The capital injection is part of a larger funding round, according to the fintech firm’s regulatory filings.
Funding Societies plans to use the freshly secured capital to extend its operations in Malaysia beyond Kuala Lumpur, Selangor, Penang, and Johor. The company has set a goal to cater to over 25,000 micro, small and medium enterprises (MSMEs) throughout the country by 2025.
Thai healthtech firm Meticuly has issued new ordinary and preference shares worth a combined 295 million Thai baht ($8.5 million) to existing and new investors.
Founded by metallurgical expert Chedtha Puncreobutr in February 2017, Meticuly is a medical technology firm specialising in 3D printing, with a focus on personalised implant solutions for bone-related surgery applications.
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Other updates from DATA VANTAGE
Fintech startup Finn, which offers financial education, earned wage access services and a part-time job marketplace, has received $2 million from Singapore-headquartered [redacted].
Indonesian insurtech firm Lifepal has issued new shares worth [redacted] million to convertible noteholders, including Insignia Ventures Partners.
Saudi Arabia-based furniture trading firm Ghassan Ahmed Al Sulaiman has transferred its entire stake in home interior and renovation platform Livspace to Afkar Al-Nahda Holding Company.
Soynergy, a producer of a non-dairy probiotic drink, has raised S$500,000 ($375,780) from Singapore-based investors. The company has raised more than $1 million to date.
Singapore-based CellResearch Corporation, a biotechnology firm specialising in stem cell research aimed at wound treatments, reported a 57% increase in revenue for the financial year ended December 31, 2022.
Singapore-based e-commerce technology and solutions provider SCI Ecommerce reported a 111% jump in revenue for the financial year ended December 31, 2022. It also turned a profit during the period.
Buymed, a healthtech company that operates a B2B marketplace for pharmaceuticals, recorded a 127% jump in revenue in 2022, as its net loss surged 3.5x.
Cosmos Innovation, a Singapore-based AI-driven solar cell technology startup, received [redacted] million from Eni Next, while healthtech company Doctor Anywhere bagged $1 million from [redacted].
Circles.Life co-founder Abhishek Gupta resigned from the telecommunication company on December 26, a regulatory filing shows.
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