<article>Malaysia-based Swingvy, an online platform for human resource services catering largely to the SME businesses in Asia, has raised a bridge financing round from <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/singapore-biofourmis-seriesa-nsi-aviva-ventures-88214/" target="_blank" rel="noopener">Aviva Ventures</a>, the corporate venture capital arm of international insurer Aviva plc.</article>

Malaysia-based Swingvy, an online platform for human resource services catering largely to the SME businesses in Asia, has raised a bridge financing round from <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/singapore-biofourmis-seriesa-nsi-aviva-ventures-88214/" target="_blank" rel="noopener">Aviva Ventures</a>, the corporate venture capital arm of international insurer Aviva plc.
The financial details of the investment were not disclosed.
Swingvy, founded by Jin Choeh and Tho Kit Hoong in 2016, is Aviva Ventures’ third investment in Asia, as the insurer looks to partner with startups that could transform the insurance industry, an announcement said on Thursday.
The latest funding round comes almost a year after it raised $1.1 million in seed funding in April 2017.
The startup defines itself as a SaaS company that connects and automates HR, payroll and employee benefits on one platform. It allows businesses to manage the three functions independently with more flexibility, convenience and savings in cost and time. Swingvy has also developed a mobile app for users.
The platform is particularly suitable for small-and-medium enterprises (SMEs) in Asia. The startup, offers a freemium platform and its HR module is free, and clients only need to subscribe to a pay-as-you-use fee for advance features such as payroll and employee benefits management. Swingvy currently serves over 2,500 businesses and 60,000 users across Singapore, Malaysia and Korea.
With the latest funding, it is hoping to enable all SME business owners to use Swingvy’s integrated and seamless HR and benefits solution. Further, it is also looking to tap Aviva&#8217;s expertise in digital customer experience and insurance.
Swingvy is also looking to extend its partnership with Aviva with a future collaboration which will focus on creating new propositions for its business users in Singapore.
“Southeast Asia holds tremendous opportunity for us as many of its 70 million SMEs have strong demand for a cost and time efficient HR solution that is easy to use,&#8221; Jin Choeh, Co-Founder and CEO at Swingvy said.
Meanwhile, Aviva Ventures aims to invest £100 million by 2020 in early stage businesses worldwide. With offices in UK and Singapore, Aviva Ventures targets investments in digital and technology companies operating in four areas: ‘the internet of things’ including connected homes, health and automotive; data and analytics; innovative customer experiences; and distribution such as new ‘sharing economy’ platforms.
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Malaysia based Swingvy, online platform for human resource services catering largely to the SME businesses in Asia, raised a bridge financing round from Aviva Ventures.

Asia-focused HR platform Swingvy raises funds from insurer Aviva's VC arm

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Asia-focused HR platform Swingvy raises funds from insurer Aviva's VC arm

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