French-Cambodian logistics startup ShopRunBack has raised $900,000 in a pre-series A round led by Phnom Penh-based VC fund Obor Capital while Singapore-based fintech company hoolah has announced it is bringing its interest-free installment solution to Malaysia.
Logistics startup ShopRunBack raises $900k pre-Series A
French-Cambodian logistics startup ShopRunBack has raised $900,000 in a pre-series A round led by Phnom Penh-based VC fund Obor Capital, according to an announcement. The funding round was also joined by local venture capital firm Negocia Ventures.
ShopRunBack co-founder & director Sophie Meas confirmed the fundraise to DealStreetAsia in an interaction.
Founded in 2014, ShopRunBack is a reverse logistics company serving the Greater Mekong sub-region and China.
The startup aims to transform the returns experience of both customers and merchants through an international logistics network with a new generation of plug-and-play software.
Singapore fintech startup hoolah expands to Malaysia
Fintech company hoolah has announced its expansion outside of Singapore by bringing its interest-free installment solution to Malaysia, according to an announcement.
hoolah allows customers to make purchases online on zero interest installments. It launched its commercial operations in Singapore in February 2018, focusing on online merchants in the retail, travel and airline verticals.
The startup is now expanding outside of Singapore with Malaysia as its first new market. The company said it has partnered with Singapore-based sneaker and streetwear marketplace Novelship and luxury fashion platform BlinQ to launch its service in Malaysia.
“Malaysia was always a key market for our expansion given the proximity to Singapore, as well as the growth in e-commerce,” said Stuart Thornton, CEO at Hoolah.
In 2018, hoolah raised a seven-digit seed round led by AccelerAsia Ventures and Aletra Capital Partners. The round was joined by iGlobe Partners from Singapore.