Malaysia’s B2B marketplace Lapasar raises $500k, led by SG’s SeedPlus

Thinesh Kumar, CEO and Founder of Lapasar

Lapasar, a Malaysia-based B2B marketplace with integrated procurement tools, has raised $500,000 in seed funding led by SeedPlus, a Singapore-based venture capital firm supported by Jungle Ventures, IFC, SGInnovate.

Angel investors from NEXEA, a Kuala Lumpur-based angel-VC investment firm, also participated in the round, according to an announcement.

Lapasar will use the funds raised to support product development to further automate ordering and Request for Quotation (RFQ) processes, besides supporting its business development activities.

Lapasar is a marketplace that connects corporates to suppliers of products and services across Malaysia. The company aims at bringing the B2C simplicity and efficiency into the corporate environment while strengthening its procurement governance.

The company claims that it has already a database of over 10,000 suppliers of products and services from all over Malaysia. Its clients include Malaysia Airports Holding Berhad (MAHB), Telekom Malaysia, and Tenaga Nasional Berhad.

SeedPlus is a Singapore-based venture capital firm that invests in emerging businesses across Asia, leading pre-series A rounds. The firm is supported by Jungle Ventures, and count Cisco, IFC, SGInnovate, Accel Partners, RNT Associates and Eight Roads as investors.

NEXEA is a venture capital and startup accelerator firm that supports and funds technology companies that would potentially be the next big thing. It was founded on the premise of helping tomorrow’s tech leaders in solving real world problems, changing the market landscape, and crafting a successful business.

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.