Data Vantage: AscendX, UNObank, Healthifyme and Soho raise funding

Cryptocurrency platform AscendX pocketed $50.5 million this week after closing a Series B round co-led by Polychain Capital and Hack VC, according to its regulatory filings.

Other investors in the round were Jump Capital, Alameda Research, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital.

The company, which offers exchange, custody, and staking services to retail and institutional clients, had announced the round earlier this month.

According to AscendX’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), Polychain Capital and Hack VC contributed $15 million each to the round. Alameda invested $10 million, while $5 million came from Jump Capital.

The crypto platform’s shares were priced at a little above $1,660 in the latest round.

AscendEX said it plans to use the Series B proceeds to accelerate its global expansion and product innovation, especially in the area of blockchain-based yield generating protocols.

Other updates from DATA VANTAGE

UNObank, which was in June granted approval to operate a digital bank in the Philippines, secured $7.5 million in fresh funding last week. The digital bank, which is operated by Singapore-headquartered fintech DigibankASIA, received $6 million from British Virgin Islands-registered Vikrama Limited.

The rest came from the Singapore unit of executive search firm Positive Moves Consulting and individual investors.

The other digital bank licence holders in the Philippines are Overseas Filipino Bank, a subsidiary of state-owned Land Bank of the Philippines; Tonik Digital; Aboitiz-led Union Digital Bank; GOtyme, which is owned by the Gokongwei Group and Singapore fintech firm Tyme; and Maya Bank, the fintech arm of Voyager Innovations.

Digital health and wellness platform Healthifyme received another $912,000 from Chirate Ventures last week, bringing its round total to $60.15 million.

Property discovery and management app Soho raised $550,200 last week from Australia-based BridgeLane and Soho Property Investors, a vehicle owned by the startup’s founder Jonathan Lui.

Israeli-Singapore firm Browzwear raised $2.4 million from Closed Loop Partners earlier this month. It had earlier bagged $31 million from Radian Capital as part of the same round. Browzwear had announced a $35 million financing in August to more than double the size of its business over the next two years.

Healthtech firm Doctor Anywhere reported secondary transactions this week as founder Lim Wai Mun and shareholder Loo Kian-U sold shares to Asia Partners.

Vertex Ventures Southeast Asia & India partner Carmen Yuen has replaced Vertex Holdings CEO Chua Kee Lock on Thai insurtech startup Sunday’s board.

Thai fintech startup Atato bagged $801,644 this week from a host of institutional and individual investors. Zipmex Asia and VC firm SOSV pumped in $280,000 and $180,000, respectively. Shares in the seed round were priced at a little over $3.4 each. The transaction makes Zipmex Asia a major shareholder in the company.

Atato reported a net profit of $0.14 million on the back of revenue of $0.17 million in the financial year ended December 31, 2020.

Digital asset exchange Zipmex Asia itself secured $41 million in funding earlier this year. In August, it announced an oversubscribed Series B funding round backed by investors including Krungsri Finnovate, the corporate venture capital arm of Thailand-based Bank of Ayudhya.

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.