Singapore’s Credify bags $1m from Beenext, SoftBank’s Deepcore

Photo: Internet Archive

Singapore-based software development company Credify has raised $1 million in a seed funding round from venture capital firm Beenext and Deepcore, a Japanese artificial intelligence-focused incubator set up by SoftBank.

Credify co-founder and CEO Makoto Tominaga confirmed the investment to DealStreetAsia in an email interaction.

Founded in 2019, Credify provides universal identity and trust system solutions to companies active in e-commerce and finance. Credify’s product acts as a personal data bridge, connecting e-commerce marketplaces and lending platforms.

The company will use the funds to enhance its suite of products, further localise its software development operations in South East Asia, and move ahead with its live client engagements.

“This investment from Beenext and Deepcore represents far more value than the capital that will assist us as we execute on our vision to elevate trust in digital economies,” Tominaga said. 

“Both firms bring with them strong networks within our target markets and deep understanding of the strategic and practical execution necessary to transform early stage businesses to large-scale growth enterprises,” he added.

Recently, Singapore-based venture capital firm Beenext has been seeking to raise $100 million for a new fund and has so far gathered $8 million for it, according to an SEC filing. The fund, Beenext Emerging Asia LP, was launched in late October.

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.

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.