Data Vantage | Qashier, Endowus, Droom secure capital; Topica and others file financials

Edition #302, 24 August 2023

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Singapore-based smart point-of-sale (POS) and payment solutions provider Qashier issued shares worth around [redacted] million this week to investors, including Exor Seeds, Antler and Cocoon Capital.

The company’s regulatory filings show it has racked up [redacted] million in Series A funding and is issuing shares to Exor Seeds, the venture arm of European giant Exor, which had backed its $4.7 million seed round in December 2021.

The fintech startup offers smart POS terminals with customised solutions to F&B, beauty, retail, and events merchants, as well as cloud-based software for inventory management, an online ordering system, and other offline-to-online tools.

Qashier claims to cater to over 6,000 merchants across Singapore, Malaysia, the Philippines and Thailand.

Endowus, a Singapore-based wealth management company, secured fresh capital worth $6.66 million this week.

Earlier this month, the wealthtech platform announced raising $35 million from MUFG Innovation Partners, Citi Ventures, UBS, Lightspeed Venture Partners, Singtel Innov8, and other investors.

A regulatory filing this week showed the firm is conducting a share buyback from individual shareholders, including its executives, worth over [redacted] million.

Founded in 2017 and licensed by the Monetary Authority of Singapore, Endowus offers wealth advice to investors and access to institutional financial solutions at a fee. The digital wealth platform serves both private wealth and public pensions and is the first digital advisor for Singapore’s Central Provident Fund Investment Scheme (CPF).

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Other updates from DATA VANTAGE

The Singapore unit of Indian online automobile marketplace Droom has received [redacted] million from DG Ventures, the corporate venture capital arm of Tokyo-listed internet company Digital Garage, and other investors.

Vietnamese edtech startup Topica Holding saw its net loss soar to [redacted] million in the financial year ended June 30, 2022. The company’s Singapore-registered entity reported no revenue for the period.

Singapore-based technology platform Handprint’s revenue surged around 21x in the financial year ended December 31, 2022. The firm failed to curb its mounting losses, which increased by more than 75% during the period.

Indonesia-based culinary startup Mangkokku’s revenue more than tripled in the financial year ended December 31, 2022, while its losses ballooned 5.5x during the period.

Singapore- and Switzerland-based biotech company ACM Biolabs’s revenue dropped by around [redacted]% in the twelve-month period ended May 31, 2022. The firm’s losses widened by more than 22% during the period.

Singapore-based autonomous mobile robotics company Sesto Robotics’s revenue fell by more than 17% in the twelve months that ended October 31, 2022. The firm managed to narrow its losses by around [redacted]% during the period.

Wireless charging technology developer Xnergy’s revenue more than doubled in the twelve-month period ended September 30, 2022, while its losses jumped more than 65% during the period.

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

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