Asia Digest: Vietnam’s Cricket One raises funds; Indonesia’s Finantier bags pre-seed capital

Vietnam-based alternative food maker Cricket One has raised funds from Corecam Capital Partners, while Indonesia-based open finance startup Finantier has bagged pre-seed funding led by East Ventures with participation from AC Ventures, Genesia Ventures, and others.

Vietnam’s Cricket One raises funds from Corecam

Vietnam-based Cricket One has secured a financing round led by Singapore-based Corecam Capital Partners.

Founded in 2017 by Nam Dang and Bicky Nguyen, and backed by early-stage VC firm 500 Startups, Cricket One aims to change consumer habits by promoting one of the world’s most environment-friendly food sources — crickets.

The company has just launched an entirely new cricket-based burger patty. It said that meat alternatives are currently one of the hottest food and investment trends in the world, backed by increasing consciousness on climate change and consumer health.

The company has already established a complete supply chain from feed to farm to processing. Going forward, the company will expand production and capacity to meet current market demand.

“We are a strong believer in the future of insect proteins as a sustainable solution to the growing global protein demand and are very excited to have found the right investment to participate in this fast-growing market,” said Maximillian Hoenigsmann, managing partner, Corecam Capital Partners.

“Cricket One has done a phenomenal job to build a scalable yet cost-efficient model based on innovation and careful management. We look forward to supporting the company in its next growth phase,” he added.

Last year, Cricket One raised an undisclosed sum led by 500 Startups and Singapore-based Masik Enterprises.

Corecam Capital Partners is the direct investments arm of the Corecam Investment Group. It is an independent and partner-owned family office for global entrepreneurs and their families. Founded in 2009, the group has around 50 employees in Singapore, Vienna, Zurich, Frankfurt, and Ho Chi Minh City.

East Ventures leads Finantier’s pre-seed funding

Finantier, an Indonesia-based open finance startup, has announced an undisclosed amount of pre-seed funding led by East Ventures with participation from AC Ventures, Genesia Ventures, and other investors.

Founded earlier this year by Diego Rojas, Keng Low, and Edwin Kusuma, the company says it provides the infrastructure and data products required by businesses to build the next generation of financial services by enabling digital platforms to securely work in collaboration with financial institutions to create seamless, and personalised experiences for consumers, who can benefit from their data.

Finantier offers an API and infrastructure that powers other fintech products, accelerating time-to-market and reducing costs for businesses while delivering tailored solutions for consumers so everyone can fully benefit from its open finance ecosystem.

“Providing equal access to financial services will create multiplier effects to the Indonesian economy. Currently, hundreds of companies work with their own unique solutions to bring financial services to more people. We believe Finantier will help them offer more products and services to the underserved section of the population,” said East Ventures co-founder and managing partner Willson Cuaca.

Currently operating in Singapore and Indonesia, Finantier says it plans to use the new funds to expand its team within the next few months and supercharge their proprietary technology. The company eyes an expansion into other emerging markets as its platform grows, with specific solutions adapted to each country.

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.