By Juliet Shwe Gaung
The bike, tuk-tuk and taxi-hailing platform is part of Get, an omnichannel digital commerce platform established in 2017 by early-stage tech investor Mike Than Tun Win and fintech veteran Nyein Chan Soe Win.
With this investment, Seed Myanmar will pick up a minority stake in Marathon Myanmar, which has secured its largest external investment to date.
Metro Wholesale Myanmar Ltd plans to utilize the funds to launch wholesale trade operations in Myanmar.
Anthem Asia Myanmar SME Venture Fund will look for investment opportunities of up to $3 million per transaction.
The proceeds will be used to develop five budget hotels under the brand, Awinka, over the next two years.
Starting with Singapore, it is looking to tap other remittance corridors – Dubai, Thailand and Malaysia – with a large Myanmar diaspora.
The latest debt facility is Yoma Bank’s eighth MFI funding agreement.
Individual investors, including Thng Tien Tat from Singapore, will take a minority stake in lieu of the investment.
Singapore-based Vulpes Investment Management recently undertook a rebranding exercise of its country-focused vehicle as Seed Myanmar to make early-stage technology investments.
Seed Myanmar will be structured as an open-ended fund after taking into consideration the challenge in deploying capital in Myanmar startups