Data Vantage | Partior, Aether Fuels, Atome, Jago Coffee and Jirnexu in focus

Edition #390, 16 July 2024

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Dear Reader,

Singapore-based blockchain payments network Partior issued new shares worth $50 million last week to Peak XV Partners, Temasek Holdings, JP Morgan, Standard Chartered, Jump Trading Group and Valor Capital.

The allotment is part of the first close of a Series B round led by Peak XV, which the company announced on Friday.

According to its regulatory filings, the company has raised [redacted] million in fresh funding from Peak XV, Jump, Valor, and [redacted]. Additionally, it has issued Series B shares to Temasek, JP Morgan, and Standard Chartered upon conversion of notes issued last year.

Partior is set to receive $5 million each from [redacted] and [redacted], the filings show. The company has raised the new round at a pre-money valuation of [redacted] million.

Set up by Temasek, DBS, and JP Morgan in 2021, Partior evolved from Project Ubin, a central bank digital currency experiment backed by the Monetary Authority of Singapore (MAS). Standard Chartered announced its investment in the company the following year.

Partior serves cross-border payments through a unified ledger market infrastructure. It aims to improve liquidity management for corporate and financial institutions globally.

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Other updates from DATA VANTAGE

Xora Innovation-backed climate tech startup Aether Fuels received [redacted] million last week from Eni Next, the corporate venture capital arm of Italian multinational energy company Eni.

Buy now, pay later (BNPL) company Atome received $9.2 million from its parent company, financial services firm ??Atome Financial, last week. The BNPL arm turned profitable in the first quarter of this year, its parent announced in April. Its performance also helped Atome Financial turn EBITDA positive in Q1.

Venture capital firm BEENEXT joined Indonesia-based mobile cafe startup Jago Coffee’s cap table last week with a [redacted] million investment. The capital injection is part of a $6 million Series A round announced in April.

Fintech company Jirnexu allotted shares worth [redacted] to personal finance and digital insurance aggregation platform MoneyHero, formerly known as CompareAsia Group, last week. The allotment follows Jirnexu’s recently announced acquisition of CompareHero, MoneyHero’s Malaysian B2C brand. As part of the deal, MoneyHero has acquired a stake in the fintech firm.

Electric vehicle logistics startup Blitz Electric Mobility issued preference shares worth $1.1 million last week. In March, the company had announced closing a $1.6 million seed extension funding round led by ADB Ventures.

Indonesian e-commerce enabler SIRCLO received $829.4k from Beacon VC last week. The company has now issued shares worth [redacted] million at the same price since June 2023.

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