As we prepare to bring FinovateAsia to Singapore November 14, we researched the funding of six Asia-based companies who demoed at FinovateAsia last year. Combined, these companies raised more than $215 million from a variety of investors:
BankBazaar, a credit processing platform that allows banks to offer consumers 7-minute credit eApproval on retail credit products.
- Series A: $6 million from Walden International
- FinovateAsia 2012 demo
- Series A: $4 million from JAFCO Asia
- FinovateAsia 2012 demo
- Venture Round: undisclosed amount from VentureLab
- Series A: undisclosed amount from Accion and Arbor Ventures
- FinovateAsia 2012 demo
- Seed round: $250k
- Angel round: $1 million from SeedFund
- FinovateAsia 2012 demo
- Seed round: $465k from TNF Ventures
- FinovateAsia 2012 demo
- Total of $205 million from cMango, Gallagher Financial Systems, Science Applications International Corp., and Promax Application Group
- FinovateAsia 2012 demo
The funding for these companies comes from a diverse set of investors, many of whom are based in Asia. Janus recently published a piece outlining venture funding options available to Singapore companies. For the most part, Singapore’s equity financing scene is quite similar to the U.S., but there are a few significant differences:
- The VC scene in Singapore is small compared to the U.S. and Europe
- Singapore’s government actively pursues VC firms to invest in Singapore startups and entices them with tax and other monetary benefits
- There are more than 100 VC firms in the city today
- Many VC firms in Singapore focus on late-stage expansion financing, but some offer financing for early-stage startups
- Types of VC firms in Singapore range from independent limited partnership to corporate-backed firms
- Singapore VCs are attracted to services, manufacturing and the high-tech industry
At this year’s FinovateAsia, while not all demoing companies are looking for funding, each will show up to the MAX Atria @ Singapore Expo stage with their newest technology. Want to learn more? Check out FinovateAsia homepage or get your ticket here to be a part of the event.
