Indonesian angel investment network ANGIN has secured an undisclosed seed funding round from Singapore-based crowdfunding platform FundedHere.
“This [funding] will accelerate our mutual footprint in Southeast Asia,” ANGIN managing director David Soukhasing said.
“Investors on both our platforms will now have exposure to cross-border opportunities,” FundedHere co-founder and CEO Daniel Lin said.
ANGIN will use the proceeds to roll out new services and to hire talent.
Founded in 2013, ANGIN connects over 100 investors from angels, VC firms, impact investors, foundations and corporations to startups across the archipelago.
ANGIN claims to be the first structured angel investment network in Indonesia, connecting high-net-worth individuals in the country to engage in early-stage investments.
In 2018, ANGIN secured an undisclosed seed funding from 500 Startups and three Indonesian investors, namely Shinta Kamdani, Diono Nurjadin (Cardig International CEO) and Jefrey Joe (Alpha JWC managing director and co-founder).
Over the last four years, ANGIN has supported more than 70 startups such as charity crowdfunding platform Kitabisa, logistic shipping provider Kargo, and vegan restaurant chain Burgreens.
FundedHere is Singapore’s first MAS-licensed equity and debt crowdfunding platform, aiming to connect the startups and companies to strategic investors through its regulated platform.
The platform has nearly 1,800 investors. FundedHere has also reviewed over 1,500 companies and has raised more than $12 million for 26 campaigns.