Data Vantage | Red Dot Payment, TabSquare, ADDX bag new funding and other updates

Edition #225, 15 Nov 2022

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Singapore-headquartered online payment company Red Dot Payment allotted shares worth $4 million to its biggest shareholder PayU, the fintech arm of Naspers, last week.

The latest investment follows a similar capital injection in March this year by PayU, which now holds an over 73% stake in the startup.

Red Dot shares were priced 35.2% lower in the latest allotment than in March this year.

Top shareholders in Red Dot Payment

Source: DATA VANTAGE

Delivery Hero injected another $1.3 million into Singapore-based restaurant tech startup TabSquare last week, bringing its total investment in the latter this year to $8.4 million.

TabSquare, which was acquired by Delivery Hero in 2021, reported $2 million in revenue for the financial year ended Sept 2020.

Other updates from DATA VANTAGE

Private market exchange ADDX on Tuesday announced raising $20 million in fresh capital as part of an upsized pre-Series B round. Its regulatory filings show it received $15 million from lead investor KB Securities.

ADDX had earlier secured $58 million in the pre-Series B round from the Stock Exchange of Thailand, UOB, Hamilton Lane and Krungsri Bank.

India’s fintech-as-a-service startup Decentro allotted shares worth $5.95 million to investors, including Rapyd Ventures, Cathexis Ventures, Leonis VC, Soma Capital, FundersClub and Locus Ventures, last week. The company announced closing a $4.7 million Series A round this week.

Angel investors who received Decentro shares last week include Amit Anand, Phil Austern, Sailesh Ramakrishnan, Edward Lando and Mohandass Kalaichelvan.

Thai real estate marketplace Lazudi allotted ordinary shares worth $114,000 to its executives last week. It had last raised $2 million in funding from Swedish venture capital firm PropTech Farm in December last year.

Singapore-based mining firm Navigate Commodities received nearly $300,000 from investors, including Palmm Pte and Stellar James Management CIO Guy Shirtliff, last week. It had recently announced securing $378,000 in seed funding.

South Korean crypto exchange Upbit invested $1 million in its Singapore entity last week. The unit has received $2.5 million from the parent firm this year.

Foodtech startup Nutrition Innovation gobbled up nearly $313,000 in funding from commodity trading firm Enerfo Sugar last week. Enerfo has been topping up its investment in the startup and has injected around $400,000 in total this year.

Fintech startup Brankas grew its revenue by 2.8 times in the financial year ended December 31, 2021, according to its latest regulatory filing. Its losses before interest went up 6% during the period.

Online furniture company Hipvan, which is owned by South Korea’s Bucketplace, reported a 15.8% increase in revenue for the financial year ended March 31, 2022. Its losses before interest went up 13% during the period.

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