Data Vantage | Qoo10, Flipkart, CYFIRMA, Swap Energy and Optty report updates
Edition #262, 4 Apr 2023
Dear Reader,
Southeast Asian e-commerce platform Qoo10 allotted shares worth nearly $189 million to Monster Holdings, KKR & Co, Anchor Equity Partners and NHN Corp last week.
Monster Holdings was set up by KKR and Anchor Equity Partners to acquire a controlling stake in South Korean online retailer TMON (Ticket Monster) from Groupon in 2015.
Korean media reported last year that Qoo10 was set to acquire TMON in a stock swap deal. The latest share allotment by the Singapore-headquartered firm appears to confirm the development.
Qoo10 is reportedly in talks for a similar share swap deal with another South Korean e-commerce platform, Wemakeprice.
Top shareholders in Qoo10 Pte
Source: DATA VANTAGE
Indian e-commerce company Flipkart injected an additional $358.2 million last week into its marketplace unit, Flipkart Marketplace.
Walmart-owned Flipkart operates an online marketplace selling a wide array of products, including home and kitchen appliances, electronic devices, books, and personal and healthcare products.
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Other updates from DATA VANTAGE
Goldman Sachs-backed cybersecurity company CYFIRMA received $5.5 million in fresh funding last week from Indian conglomerate Larsen & Toubro and Israel’s OurCrowd and NTT Finance. The Singapore-based firm had earlier bagged $3 million in Series A funding from investment firm Z3Partners in 2020.
Indonesia-based EV battery swapping solutions provider Swap Energy received $7.25 million last week in a new funding round led by Ondine Capital.
Buy now, pay later (BNPL) integration platform Optty received funding last week from a group of investors, including OIF Ventures. The company could raise up to $6.2 million in the new round, according to a recent regulatory filing.
Singapore-based software startup Horizon Quantum Computing received $5 million from Pappas Capital, SGInnovate and Expeditions Fund last week as part of a recently announced $18.1 million round.
Singapore-headquartered energy efficiency company bbp (formerly known as Barghest Building Performance) allotted shares worth $3.8 million last week to existing investor KKR, DBS Group Holdings non-executive chairman Peter Seah and others.
Indian startup PaySense, which offers instant personal loans, received another cash infusion from its parent company, the Netherlands-headquartered payments major PayU, last week.
Singapore-based gourmet grocery chain Little Farms has secured equity and debt funding from Heliconia Capital. It has also allotted new shares to Rahul Goswamy as part of a convertible note agreement signed in Dec 2022. The company recently filed its financial statement for the year ended Dec 31, 2021. It reported a 7.2% increase in revenue during the period, while its net loss increased almost 4x.
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