Deals Digest: Gobi-Core invests in Kumu, AMTD fund backs 5 fintech players

Photo from Kumu's social media page.

Gobi-Core Philippine Fund has invested an undisclosed amount in live streaming platform Kumu while Singapore Solidary Fund, which is under AMTD Asean Solidarity Fund Group, has backed five fintech companies.

Gobi-Core invests in PH live streaming platform Kumu

Gobi-Core Philippine Fund, the $10-million fund established by venture capital firms Gobi Partners and Core Capital, has announced an investment in Kumu, a local live streaming platform, marking the fund’s third investment since its launch in 2018.

Details of the investment were not disclosed. Kumu will join eduction startup Edukasyon.ph and insurtech startup MariaHealth in the portfolio of Gobi-Core, which seeks to invest in seven local startups by 2021.

Kumu has become one of the fastest rising Philippine startups in the last two years. Its user base has more than doubled since the start of the year, surpassing the five-million mark last month.

Gobi-Core Philippine Fund was launched in 2018 to give Philippine-based startups access to Gobi’s regional platform. The fund seeks to support seed-stage and pre-Series A startups in the Philippines.

AMTD completes $6.4m investment in five fintech firms

AMTD Singapore Solidary Fund announced that it has completed its first batch of investments in five innovative financial technology companies, with a total of S$8.6 million ($6.4 million) in funding.

The fund is part of AMTD ASEAN Solidarity, which was jointly established by AMTD Digital, AMTD Charity Foundation, and the ASEAN Financial Innovation Network.

The five selected companies in the first batch of the investments include Funding Societies, a SME digital financing platform in Southeast Asia; Active.ai, a platform that offers cloud-based Conversational AI, helping financial institutions redefine their customer services and automate process; Cardup, a credit card enablement platform; Transwap, a cross-border payments platform for regional businesses; and insurtech startup PolicyPal.

The five firms will receive financial support and access to AMTD’s digital platform. Additionally, they will have access to AMTD’s SpiderNet ecosystem that allows them to connect with founders in Southeast Asia, the Greater Bay Area, and the rest of 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.

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.