Data Vantage | Mobile Premier League, Blue Planet and Syfe in focus

DealStreetAsia
4 min readNov 7, 2024

--

Edition #422, 7 November 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-registered online gaming platform Mobile Premier League (MPL) reported a 22.2% year-on-year increase in total revenue, reaching [redacted] million in the financial year ended March 31, 2024. However, its net losses widened due to rising expenses.

India remains MPL’s largest market, contributing 69% of the company’s annual revenue. It is followed by Europe and the US.

MPL’s net loss attributable to shareholders grew to [redacted] million, up from [redacted] million in the previous year, partly due to higher expenses. The biggest expense — advertising, promotions, and marketing — rose 6.8%, along with increased costs for payment gateway fees and customer support services.

In addition to higher operating expenses, MPL reported a net fair value loss on convertible debentures in its most recent financial year, a sharp reversal from the $12.6 million gain recorded in the previous year.

MPL, backed by investors such as Peak XV Partners and Argor Capital, has raised over [redacted] million in funding to date.

The data and information in this newsletter comes from DATA VANTAGE, which tracks regulatory filings to provide you with the latest information on startup fundraising, shareholding and financials. Find out how it can aid you in your decision-making — book a demo today or write to us at subs@dealstreetasia.com

Schedule a free demo session now

Profit amid funding crunch

Facing a tighter funding environment since early 2022, Southeast Asian startups have implemented several business reforms in a bid to enhance sustainability and profitability.

These efforts have been met with some success. A recent study by DealStreetAsia of 922 venture-backed regional companies shows that 54.4% of the total sample reported year-over-year revenue growth.

About 16.8% of companies reported positive net income, with about half (8.9%) turning around from previous losses.

The analysis was based on companies in DealStreetAsia’s DATA VANTAGE database that filed financial statements between June 2023 and June 2024.

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

Singapore-based sustainable waste management firm Blue Planet Environmental Solutions reported a 9.8% drop in revenue for the financial year ended March 31, 2024 to [redacted] million, causing its losses to rise further.

Syfe, a Singapore-based wealthtech platform backed by Valar Ventures, halved its net loss for the 12 months ended March 31, 2024 to [redacted] million, as its revenue grew 66%.

Online language learning platform EWA grew its revenue by 16% to [redacted] million in the year ended March 31, 2024. The Singapore-based company, however, went into the red after reporting a profit in the previous year.

Sustainable resource management firm CleanEdge Resources saw losses widen in the financial year ended March 31, 2024, despite a 23% revenue increase to [redacted] million.

Peak XV-backed cross-border payments startup Tazapay more than tripled its revenue to [redacted] million in the financial year ended March 31, 2024. However, its losses increased by 19% during the period.

Merkle Science, a deep tech blockchain analytics company backed by SGInnovate, recorded revenue of [redacted] million in the year ended December 31, 2023. It also curbed its losses marginally during the year.

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

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? Book a demo now to explore our database!<< © DEALSTREETASIA 2014–2024.

--

--

DealStreetAsia
DealStreetAsia

Written by DealStreetAsia

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