Data Vantage | Sygnum, Bettr, Smile API, Pluvia and Alta Exchange bag capital
Edition #306, 7 September 2023
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Dear *|IF:FNAME|**|FNAME|*,*|ELSE:|*Reader,
Singapore-based financial services firm Sygnum received [redacted] million last week from parent Sygnum Bank, the world’s first digital asset bank.
Earlier this year, Sygnum received in-principle approval for a major payment institution licence (MPIL) application from the Monetary Authority of Singapore that enables it to offer digital token brokerage services in the city-state.
The Singapore unit had previously received [redacted] million from Sygnum Bank in April.
Indonesian specialty coffee company Bettr received [redacted] million from Singapore-based investment firm Heritas Capital last week.
The company comprises two businesses — Bettr Academy, which provides a range of beverage-related courses, and Bettr Coffee, which offers coffee bars, wholesale and retail coffee, as well as equipment.
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Other updates from DATA VANTAGE
Employment data provider Smile API received $448.3k last week from an entity understood to be affiliated with [redacted]. The startup provides access to employment and income data from HR, payroll, commerce, and marketplace platforms through a single API.
Singapore-based private securities exchange Alta Exchange received $296k last week from parent Fundnel. The company powers cross-border listing and trading of capital market products.
Singapore-based climate tech company Pluvia issued shares worth [redacted] last week to investors, including AL Maritime Holding and Willendorff.
SimplyGood, a Singapore-based startup that supplies eco-friendly home cleaning and personal care products, received $44.3k this week from an investor.
Indonesia-based solar energy company Xurya’s revenue nearly halved in the financial year ended December 31, 2022. The company’s losses grew threefold last year.
Ascenda, a Singapore-based rewards technology platform, reported a revenue growth of 1.7x in the financial year ended December 31, 2022. The company managed to curtail its losses by 22% during the period.
Singapore-based fintech startup SOCASH, which was acquired by Nium last year, recorded a 27.3% drop in revenue for the twelve-month period ended September 30, 2022. The company’s losses widened by around 5% during the year.
Singapore-based blockchain company Bake, formerly known as Cake DeFi, saw its revenue more than halve in the financial year ended December 31, 2022. Its profit plunged 82.5% during the period.
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