Data Vantage | UNOAsia, GenZero, Alodokter, NovoTec and Finquest allot new shares

DealStreetAsia
4 min readFeb 20, 2024

Edition #348, 20 February 2024

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Dear *|IF:FNAME|**|FNAME|*,*|ELSE:|*Reader,

Singapore-based UNOAsia, the incorporator of Philippine digital lender UNO Digital Bank, allotted shares worth [redacted] million to investors, including emerging markets-focused investment firm Gateway Partners and private equity firm Creador, last week.

DealStreetAsia had earlier reported that UNOAsia is seeking to raise up to $15 million through a term loan in two tranches. One of the prerequisites for the debt facility was that Creador, the largest shareholder in the startup, purchase new shares in UNOAsia worth [redacted] million ahead of each tranche.

UNO Digital Bank is one of six digital bank licence holders in the Philippines. Its parent company plans to create a regional business over the next few years.

GenZero, an investment platform focused on decarbonisation, received a capital injection of $44.7 million from parent Temasek Holdings last week.

Launched in 2021, the company has a global investment mandate with three focus areas — nature-based solutions aiming to restore and manage natural ecosystems, technology-based solutions with climate-driven tech aiming to reduce greenhouse gas emissions, and carbon ecosystem enablers or companies and solutions that support the development of an effective carbon markets ecosystem.

GenZero is part of the consortium that announced an investment of $40 million in UK-based sustainable aviation fuel technology company Velocys last week.

DealStreetAsia, in partnership with Payment Asia, is delighted to invite you to an exclusive event on The Future of Money at the Mandala Club, Singapore, on March 7, 2024. Our panellists for the session will be Dennis Le, VP of investment, Openspace Ventures; Shaun Leong, Partner, Withersworldwide; Bosco So, Legal Director, Hong Kong Money Service Operators Association; and, Kavi Harilela, Business Director, Payment Asia & FGA Trust. Find out more.

Find out more

Other updates from DATA VANTAGE

Indonesian telehealth startup Alodokter issued shares worth [redacted] million to convertible noteholders Beacon VC, the corporate venture capital arm of Thai lender KASIKORNBANK, and automotive parts manufacturer HL Mando last week.

Singapore-based NovoTec Group, which is building an AI-powered platform to provide medical services and products in Southeast Asia, secured additional capital from existing shareholder Toyo Seikan Group last week. The Japanese firm had injected $5 million into the firm last year.

Deal origination platform Finquest issued shares worth $1.4 million to bondholders, including Lamivoie Ventures and QuantHouse co-founders Pierre Feligioni and Gerard Belicha, last week.

Silent Eight, a startup that uses artificial intelligence to identify and prevent financial crimes, saw its losses balloon 3.5x in the financial year ended July 31, 2023. The company’s revenue jumped by 22% during the period.

Indonesian fintech company JULO reported a 5.7x surge in losses for the financial year ended December 31, 2022, as it more than doubled its revenue.

Indonesia-based edtech startup CoLearn curtailed its losses by 11% in the financial year ended December 31, 2022, as its revenue grew 4.3x.

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