Asia Digest: Mars Growth invests $4m in Hiver; Stripe backs Safepay

Photo: REUTERS/Beawiharta

Singapore-based technology fund Mars Growth Capital has invested $4 million in US-headquartered Hiver while Stripe backed the latest funding in Pakistani fintech startup Safepay.

Mars Growth Capital invests $4m in customer service provider Hiver

Singapore-based technology fund Mars Growth Capital announced that it has committed $4 million in debt facility to Hiver, a Gmail-centric customer solutions provider.

Founded in 2011, the Bangalore, India and San Jose, California-based Hiver said it helps transform Gmail into a collaboration platform by enabling teams to easily manage shared email accounts.

Hiver has over 1,500 customers across 30 countries, including Hubspot, Harvard University, Vacasa, Canva, and Shutterstock, according to information found on its website.

The debt facility from Mars Growth Capital will be used for Hiver’s account-based marketing strategy, which concentrates resources on a set of target accounts within a market.

Mars is a joint venture between Japan’s Mitsubishi UFJ Financial core banking subsidiary MUFG Bank and Israel-based Fintech Liquidity Capital.

US digital payments firm Strip backs Pakistani fintech startup Safepay

Stripe, a US digital payments company, has backed the latest funding round in Pakistani fintech firm Safepay, which seeks to accelerate the adoption of digital payments in Pakistan, according to an announcement.

Local and international investors also participated in the founding round for the company, which was founded in 2019 by Ziyad Parekh and Raza Naqvi. The exact amount raised was not disclosed but Safepay said it was a seven-figure investment round.

The startup said it will use the fresh funds to focus on investing in engineering talent to increase digital payment acceptance in Pakistan beyond credit and debit cards, including mobile wallets and
bank accounts.

Safepay provides a single integrated payment solution that interoperates with local and international payment options.

Safepay’s backers include Global Founders Capital, HOF Capital, Soma Capital, Mantis Capital, and Fatima Gobi Ventures.

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.