Asia Digest: Mortgage Master raises seed capital; 2C2P ties up with Myanmar’s Wave Money

Singaporean dollar bank notes are arranged for a photograph in Singapore, on Tuesday, Aug. 9, 2011. Photographer: Munshi Ahmed/Bloomberg

Singapore-based Mortgage Master has raised S$522,500 ($381,158) in an oversubscribed seed round, while Thailand-based 2C2P has partnered with Myanmar’s Wave Money to extend online payment services to the country.

Mortgage Master raises $381k in seed round

Asia’s one-stop mortgage brokering platform Mortgage Master has raised S$522,500 ($381,158) in an oversubscribed seed funding round through crowdfunding platform FundedHere.

The round has been led by Bala Swaminathan, former president of Westpac International and founder of S Cube Capital, with participation from Andy Lim, chairman of Tembusu Partners, according to an announcement.

The investment has exceeded the company’s initial target to raise SG$400,000.

Founded in 2018 by former bankers, Mortgage Master is Asia enables homeowners to find the mortgage rates tailored to their needs.

The company claims to have 2,500 customers, having transacted more than SG$500 million in home loans to date, according to David Baey, co-founder and chief executive officer at Mortgage Master.

The fresh funding will be used to build deep technology capabilities to scale the platform, increase headcount, and enter new markets.

2C2P ties up with Myanmar’s Wave Money 

Southeast Asian payments platform 2C2P has announced that it is partnering with Myanmar’s Wave Money to extend online payment services to the country.

Under the partnership, Wave Money will join around 500 payment options on 2C2P’s payments platform enabling Wave Money’s customers to pay for travel, retail and other purchases using their mobile phones.

The partnership will enable 17 million WavePay users to make online purchases via their mobile phones without the need for a bank account.

“Through our partnership, 2C2P and Wave Money are enabling millions of WavePay customers to be connected to 2C2P’s merchants, from airlines to major retailers, not only in Myanmar but throughout Southeast Asia. Together, we are driving the adoption of cashless and digital payments in the region,” said Aung Kyaw Moe, founder & CEO at 2C2P.

Wave Money is a mobile financial services provider operating with over 57,000 Wave shops across Myanmar. The company is a joint venture between Telenor, Yoma Bank and Singapore Exchange-listed Yoma Strategic Holdings.

Recently, 2C2P made headlines for raising $52 million in a new funding round from an international consortium of investors including IFC, Cento Ventures, and Arbor 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.