PH Digest: Mosaic Solutions bags $1.5m, JazzyPay raises $500k

Photo by Jonas Leupe on Unsplash

Software maker Mosaic Solutions has raised $1.5 million in a pre-Series A funding round while payment startup JazzyPay secured $500,000 from Cocoon Capital, according to separate announcements.

Mosaic Solutions raises $1.5m in pre-Series A funding

Mosaic Solutions, a SaaS startup that targets the F&B and hospitality industries in the Philippines, announced raising $1.5 million in pre-Series A funding anchored by Australian early-stage venture capita firm Investible.

The fresh funding brings the startup’s total funds raised to date to $3 million from investors in the US, Australia, New Zealand, Singapore, Malaysia, and the Philippines. In the latest funding round, IdeaSpace, KMC Founders, and JC Capital also participated.

The SaaS startup, launched in 2016, provides software solutions such as data analytics, inventory management, point of sale, and purchasing to businesses in the F&B and hospitality sectors, including restaurants, bars, cloud kitchens, commissaries, hotels, casinos, retailers, and more, in the Philippines.

Mosaic seeks to further growth in the Philippine market and eyes to expand regionally after its Series A funding round in 2021, the company said.

Cocoon Capital backs payment startup JazzyPay

Payment startup JazzyPay announced that it has secured seed funding of $500,000 in a round led by Singapore’s early-stage venture capital firm Cocoon Capital.

The startup, which processes 27 different payment methods for merchants mainly in the health care and education sectors, said it will use the fresh capital to expand its merchant network in the country and boost its product development capabilities.

JazzyPay was founded in 2018 by Kathleen Acosta and Joshua Marindo and has received a full license from the Bangko Sentral ng Pilipinas, the country’s central bank, as an operator of payment systems. It currently targets underserved businesses, such as schools, clinics, medical suppliers, and hospitals.

The company said its platform supports not just credit and debit cards but also major e-wallets such as AliPay, CoinsPH, GCash, GrabPay, and WeChat Pay.

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.