Singapore-based influencer platform Hiip secured bridge funding led by Vulpes Special Opportunities Fund, while Malaysia’s Fave announced a partnership with digital payment platform Pine Labs.
Hiip secures bridge funding led by Vulpes
Singapore-based influencer platform Hiip has raised an undisclosed amount in a bridge round led by Vulpes Special Opportunities Fund. The fund was launched in June to help firms affected by the COVID-19 crisis.
Hiip, which has offices across Singapore, Vietnam, Indonesia and Thailand, helps some 500 brands connect with over 10,000 social influencers based on big data and AI. In a statement, Hiip said that its revenue for June has doubled compared to the same last year.
Phi Nguyen, the CEO of Hiip said: “Our businesses in Vietnam, Indonesia and Thailand have recovered quickly after a modest downturn and we are now positioned for further growth. We will use this funding to continue to cement our leadership position through growth in additional countries in the region.”
Field Pickering, Managing Partner of Vulpes Special Opportunities fund said: “This fund was specially created to take advantage of virus related opportunities. We looked at the competitive landscape for social influencer businesses in South East Asia and determined that Hiip was best positioned for tremendous growth as the company expands its footprint across Southeast Asia.”
Malaysia-based Fave ties up with Pine Labs
Fave, Malaysia-based fintech platform for QR payments & Loyalty Cashback to restaurant & retailers, announced a strategic partnership and investment from India-based digital payments platform Pine Labs, the company said in a statement.
Fave serves as a payment aggregator for global payment services, such as Visa, Mastercard, AMEX) and wallets (Grab, OVO). It connects merchants and consumers for seamless payment experience and merchant rewards. It operates in 35 cities across Malaysia, Singapore, and Indonesia.
The collaboration aims to accelerate more businesses digitally in the coming months. As part of the partnership, Fave has also secured funding from Pine Labs.
According to the statement, Pine Labs’ technology will be integrated with Fave’s QR code system, which would enable a seamless and safe platform digital payment and loyalty solutions, especially in Southeast Asia.
Under the partnership, merchants who are working with Pine Labs will gain access to Fave’s loyalty and reward cashback, while they will also be able to access payment reconciliation, customer insights and demographic data via Fave’s digital dashboard, Favebiz.