E-commerce startup Sastodeal has raised an additional $1 million investment from Dolma Impact Fund while Singapore-based financial technology startup iLex has raised an undisclosed sum in its seed funding round.
Nepalese PE Dolma invests $1m in Sastodeal
E-commerce startup Sastodeal has raised an additional $1 million investment from Dolma Impact Fund, Nepal’s first international private equity and impact fund.
Dolma Impact Fund CEO Tim Gocher confirmed this information to us in an email interaction. He also added that this new investment round brings Dolma’s total commitment to Sastodeal to $2 million.
Founded in 2011, Sastodeal.com is one of Nepal’s biggest and most popular online shopping platforms. The company will use the fresh fund to grow its sales and revenue targets over the next 18 months.
Dolma Fund Management is on the road to raise as much as $75 million for its second private equity fund focused on Nepal. The second vehicle will invest up to $10 million in businesses in the areas of agriculture, healthcare, pharmaceuticals, energy and technology.
Dolma’s funds are backed by European development finance institutions as well as private investors. Dutch development bank FMO is one of its limited partners.
Besides Dolma, other key investors active in the country are International Finance Corp (IFC), a member of the World Bank Group, and One to Watch.
Singapore’s fintech startup iLex raises seed round
Singapore-based financial technology startup iLex has raised an undisclosed sum in a seed funding round with strategic and fintech investors from France, Hong Kong, Singapore and the United States, according to an announcement.
iLex operates an electronic market and trading platform for corporate loans and deal opportunities for participants using its matching engine.
“Currently, banks, which contribute to more than 95% of corporate lending in the Asia Pacific, are not fully maximising their loan distribution to connect with smaller, less active though potentially suitable buyers. The buy-side, which has been driving the growth in appetite for private debt, faces restrictions in sourcing for loan assets due to limited resources and market complexity. iLex’s platform will help to address those pain points,” said Bertrand Billon, CEO and founder of iLex.