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.
CustomerXPs creates technology that proactively senses cross-sell, attrition, customer engagement and fraud in real-time.
DemystData enables real-time analysis of big data from consumers and SMBs, allowing for improved interactions as a result of richer, more relevant information.
- Venture Round: undisclosed amount from VentureLab
- Series A: undisclosed amount from Accion and Arbor Ventures
- FinovateAsia 2012 demo
Heckyl provides real-time financial information, news analytics, trend matrix, and heat maps for coverage of markets, companies, and businesses.
TradeHero, a virtual trading community where the system models trades and ranks trader performance by proven returns on investment.
Wipro, an information technology, consulting, and outsourcing company that delivers solutions to enable its clients to do business better.
- 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.