Japan’s Global Alliance Inc has backed inBay’s pre-Series A round while BFMe has closed a pre-Series A financing round.
Japan’s Global Alliance Inc backs inBay pre-Series A
Ottawa-based cybersecurity software company inBay Technologies Inc has raised an additional $1 million in the second tranche of its pre-Series A financing, bringing the total to more than $2 million, according to a press release.
Japanese consulting and business alliance company Global Alliance Inc led the second tranche joining Ramphastos Investments and Tongda One Partners, which co-led the round’s initial tranche.
Global Alliance Inc was an early investor in PayPal and Fortinet. In a statement, Shane Young, president and CEO of inBay, said, the latest funds raised will help commercialise the company’s password-less authentication solution for enterprises, idQ TaaS, and create new market opportunities in Japan.
BFMe closes Pre-Series A round
BFMe.in, which claims to be the first direct cross-border e-commerce platform for India & China, has announced the close of a pre- Series A financing round led by Clever Brilliant Consultancy Limited, according to a press release.
Investment proceeds will help the company beef up its sales and marketing reach in India and mainland China, as well as expand its network into Hong Kong and Taiwan.
BFMe currently operates BFMe.com (baifomi.com), BFMe.hk and BFMe.in for China, Hong Kong and India markets respectively.
As at January 2018, BFMe reports that it has become a strategic online partner of Worldex-SingEx Exhibitions (Guangzhou) Co., Ltd to create an O2O2O (Offline to Online to Office) e-commerce platform for exhibitors from mainland China to promote export trade between China and India.