Asia Digest: Fujitsu invests in Digital Commodity Exchange; Railsbank bags $70m

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IT major Fujitsu’s venture capital unit has made a strategic investment in Digital Commodity Exchange Pte. Ltd (DCX), while UK-based embedded finance platform provider Railsbank has raised $70 million.

Fujitsu’s VC unit invests in Digital Commodity Exchange

Fujitsu, one of Japan’s largest IT companies, has made a strategic investment in Digital Commodity Exchange Pte. Ltd (DCX), the world’s first digital global rice trading platform through its corporate VC fund Fujitsu Ventures Limited, according to an announcement.

Fujitsu Limited and DCX have entered into a global strategic agreement to accelerate the digital transformation (DX) of the global commodity trading industry, including the trade of agricultural products such as grains and raw materials for manufactured goods.

DCX is a holding company of Rice Exchange and was established in Singapore in 2020 as a startup that leverages digital technologies to solve business challenges surrounding global commodity trading.

Based on this agreement, the two companies will promote joint projects by combining DCX’s expertise in global transactions, contracts, and trading operations, with the business knowledge and system design expertise accumulated by Fujitsu in the industrial and distribution fields.

Fujitsu Ventures, a wholly-owned subsidiary of Fujitsu Limited. was established on March 1, 2021.

UK fintech platform Railsbank bags $70m to expand in APAC

UK-based Railsbank has raised $70 million in its latest funding round to expand to Asia Pacific, Europe, and North America, according to an announcement.

This funding round was led by US-based Anthos Capital and other investors including Central Capital (VC arm of Indonesia’s largest privately held bank), Cohen and Company (the founder of Bancorp), and Chris Adelsbach’s new fund Outrun Ventures. Existing investors also participated.

Railsbank will use the funds to further expand its various Embedded Finance products (Banking as a Service, Cards as a Service, and Credit as a Service) across Europe, Asia Pacific and North America, to help its customers remodel and democratise access to the financial services industry.

The Railsbank platform is used by customers such as fintechs, telcos, supermarkets, and consumer brands to innovate fast and radically improve the way millions of consumers and SMEs access, use, and manage their money.

Founded in 2016 by fintech veterans Nigel Verdon and Clive Mitchell, Railsbank is a global company in BaaS and Embedded Finance, empowering a company, or a brand, to easily prototype, build and scale any financial use case.

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.