Data Vantage | Hello Health, Lazada, CNV, Pine Labs and UangCermat in focus

DealStreetAsia
3 min readMay 21, 2024

Edition #374, 21 May 2024

Share As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans.

Dear Reader,

Singapore-based healthtech company Hello Health Group received [redacted] million from multi-family office Aument Capital Partners last week.

The Singapore-headquartered investment firm also bought secondaries from Hello Health founder and non-executive director James Miles-Lambert and [redacted]. Following the primary and secondary transactions, Aument Capital has become the largest shareholder in the healthtech firm.

Other companies backed by the family office include digital financing platform Funding Societies, which secured debt funding from Aument last September, and FINN, a fintech startup that offers financial education, earned wage access services and a part-time job marketplace.

Miles-Lambert, who moved to a non-executive role at Hello Health in September 2022 after leading the firm for seven years, remains its largest individual shareholder.

Founded in 2015, Hello Health provides health and wellness information in local languages across markets in Asia, including Vietnam, Indonesia, Malaysia, the Philippines and Thailand.

Executives at top investment firms, financial services majors, and leading private companies use DATA VANTAGE to make smarter investment decisions in Asia. (See how)

Other updates from DATA VANTAGE

E-commerce company Lazada received another $230 million from parent company Alibaba last week. This is the Chinese tech giant’s first capital injection into its Southeast Asian subsidiary this year.

Lazada, meanwhile, has injected [redacted] million into its digital payments arm, Lazada Pay.

Vietnamese cloud-based business and marketing solutions provider CNV received $871k last week from investors, including Wavemaker Partners, as part of a recently announced $1 million seed round.

Indian merchant commerce platform Pine Labs has received approval from a Singapore court to move its operations to India. It joins other Indian companies, such as stockbroking app Groww and fintech firm PhonePe, that have shifted their domicile from Singapore to their home country in recent months.

Indonesian financial services platform UangCermat witnessed some shares change hands last week. Buyers included venture capital firms [redacted], Club Capital and 2be.lu.

Singapore-headquartered TASConnect, which offers a cloud-based SaaS working capital solution platform, received $6 million from SC Ventures, the fintech investment arm of lender Standard Chartered, last week.

Biotech firm BluMaiden, which focuses on therapeutic solutions to microbiome-derived diseases, has received [redacted] from deep tech venture capital firm Elev8.vc as part of a new seed funding round.

Bangladesh-based B2B commerce platform ShopUp reported a 55% increase in revenue for the financial year ended June 30, 2023. Its net loss increased by 23% during the period. The company claims to have turned adjusted EBITDA positive in the month of December 2023.

As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits

Explore DATA VANTAGE (formerly Professional Plan), an indispensable part of an analyst’s Swiss Army Knife.

To keep pace with today’s constantly evolving markets, data must be smarter, deeper, and instantly accessible. DATA VANTAGE is our smart, continuously updated research & analytics platform featuring:

  • Key financials, fundraising data, and shareholding information for over 3,000 Asian venture-backed companies registered in Singapore and Indonesia
  • Up to 3 new research reports per month
  • Monthly and quarterly data on private funding in SE Asia, India, and Greater China
  • Twice-weekly DATA VANTAGE premium newsletter
  • Alerts for monitoring companies and sectors
  • 50% discount on tickets to our flagship summit
  • Full access to DealStreetAsia’s premium stories and archives

Combine editorial insights with robust data & research. Gain a competitive edge in the ever-changing private capital investment landscape.

>> Curious? Read More About DATA VANTAGE << © DEALSTREETASIA 2014–2024.

--

--

DealStreetAsia

DealStreetAsia is a Singapore-headquartered, subscription-driven media company, covering all deals — private equity, venture capital & M&As in Asia.