APAC Digest: inBay Technologies and BFMe close pre-Series A rounds

Visitors and tourists walk along a shopping street leading to the Sensoji temple in the Asakusa district of Tokyo, Japan, on Monday, March 20, 2017. Photographer: Akio Kon/Bloomberg via Getty Images

By Shiwen Yap

February 20, 2018

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.

Also Read:

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APAC Digest: Tokyo’s JustInCase and Melbourne startup Honee close funding

APAC Digest: Bank of India Indonesia to delist; Musical.ly, Tik Tok to merge

East Ventures invests in Indonesian on-demand warehousing startup Waresix

Singapore Reporter/s

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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