Asia Digest: N-Squared, Clicky.pk, Chai Pay, Aampe raise funding

By Yimie Yong, Nguyen Thi Bich Ngoc

December 1, 2020

Thai e-commerce distributor N-Squared, Pakistani fashion e-commerce startup Clicky.pk, Singapore-based messaging software startup Aampe and S. Korean mobile payments app have secured fresh capital in their latest funding rounds.

Thai e-commerce distributor N-Squared raises Series A

Thai e-commerce distributor N-Squared Ecommerce Group has raised an undisclosed sum in its Series A funding from institutional investors to invest in its core technology and services, as well as to expand its footprint across Southeast Asia.

Investors in the round include KKP Capital Plc, Siam Alpha Equity’s Private Equity Trust for SME Growing Together 2, Chanwanich Group, AHMP and ECG-Research.

The startup is the official e-commerce distributor for over 130 brands in six Southeast Asian countries. In addition, it owns two direct-to-consumer brands, HomeHuk for online home and living and XtivePro for sports goods in Thailand.

Pakistani fashion e-commerce startup Clicky.pk  snags $700k

Lahore-based fashion e-commerce startup, Clicky.pk has secured $700,000 in a pre-Series A round of funding, per its announcement on Monday.

Former executives from the e-commerce platform Amazon Middle East and North Africa (MENA) region and China-based smartphone maker Xiaomi, along with few other angel investors, participated in the round.

The new funds will be used to grow a team of fashion designers for home-grown labels, the startup said in a statement. The fashion marketplace will also invest in logistics and supply chain in four major cities of Pakistan. Earlier investors of Clicky.pk include Souq.com and Pakistan’s early-stage VC fund Fatima Ventures. 

S Korea’s Chai Pay raises $16.7m investment

Chai Pay Holding, a mobile payments app powered by Terra’s blockchain network, has raised $16.7 million from Hanwha, SK Networks and others, according to VentureCap Insights. 

The company has raised a total of $33.8 million to date, at a valuation of around $138.5 million, VentureCap Insights added.

By October 2019, Chai Pay has facilitated $54 million worth of transactions via the Terra blockchain in its first four months of operation, according to media reports. Last year, Terra expanded to Southeast Asia with an office in Singapore.

Singapore messaging startup raises $1.8M from Surge

Singapore-headquartered messaging software startup Aampe has bagged a $1.8 million funding led by Sequoia Capital India’s accelerator programme Surge.

Founded in July 2020, Aampe uses machine learning to personalise messages and communication for customers, helping businesses drive better customer retention and growth. Aampe has acquired key customers across multiple countries in Asia, including India, Singapore, Myanmar and Indonesia.

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.
APPLY NOW

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.
APPLY NOW