Indonesian financial wellness platform GajiGesa raises $2.5m and other SE Asia deals

Indonesian financial wellness platform GajiGesa on Thursday announced that it has raised a $2.5 million seed round. The round was co-led by US-based, early-stage venture capital firm Defy.vc, and Singapore-headquartered Quest Ventures.

GK Plug and Play, Next Billion Ventures, Alto Partners Multi-Family Office, Kanmo Group, and several strategic angel investors also participated in the round.

The funding will be used to expand GajiGesa’s reach in Indonesia, including investment in sales and customer success, while also scaling its tech team in Jakarta, GajiGesa said in the statement. The GajiGesa app provides member employees with earned wage access, financial education, and other financial management tools.

It also provides employer partners with an enterprise-grade HR analytics platform to improve employee productivity, engagement, and retention by reducing financial stress for their teams.

GajiGesa was founded last year by Martyna Malinowska, formerly product lead at Standard Chartered Bank, and product director at LenddoEFL; and Vidit Agarwal, who was formerly the head of business development (APAC) at Stripe, COO at CARRO, and first employee at Uber in Asia

SG healthtech startup Bot MD raises $5m Series A

Bot MD, a Singapore-based healthtech firm announced that it has raised $5 million in its Series A funding round led by venture capital firm Monk’s Hill Ventures.

Launched in 2018, Bot MD provides doctors with access to clinical information from their smartphones, eliminating the need to call a hospital operator or request access to a medical facility’s intranet. The startup raised $1.6 million in its Seed Round in August 2018.

Bot MD said the fresh funding will be used to expand in Indonesia, the Philippines, Malaysia, and India. It also seeks to add new features and introduce AI assistant that supports Bahasa Indonesian and Spanish later this year.

“We’re focused on designing a user experience on our platform that will modernize clinical workflows without the need to adopt an entirely new hospital system or change existing workflow,” said Dorothea Koh, CEO and co-founder of Bot MD.

The app is currently used by more than 13,000 doctors at hospitals and institutions such as Changi General Hospital, National University Health System, National University Cancer Institute of Singapore, Tan Tock Seng Hospital, Singapore General Hospital, Parkway Radiology, and the National Kidney Transplant Institute.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning February 1.

Expand Table

StartupHeadquarterInvestment Size (US)Investment StageLead Investor(s)Other Investor(s)Industry                   
CircopaySingaporeSeed1$600,000Gracejoy Liquids, Atlas8, Alto PartnersFintech
OyikaSingapore$1 millionSeries ATRIRECAutomotive, Battery
Mosaic SolutionsThe Philippines$1 millionSeed 2Gentree FundFood & Beverages (F&B)
TerraviewSingapore
$1.5 millionSeries ABTB VentureAI
AIM BiotechSingapore$4.6 millionSeedSeeds Capital, Wavemaker Partners, VenturecraftHealthcare, Biotechnology
ZM LabsSingapore$7.5 millionSeries BJungle VenturesConsumer goods
ThunesSingapore$10 millionSeries BTransferTo HoldingsPayments
ExpedockThe Philippines$4 millionAli PartoviExecutives from eBay, Salesforce, LinkedIn, Instagram.AI
GajiGesaIndonesia$2.5 millionSeedDefy.vc, Quest VenturesGK Plug and Play, Next Billion Ventures, Alto Partners Multi-Family Office, Kanmo Group
OrderEZSingapore$374,000SeedUndisclosedUndisclosedBusiness management platform
Kim DentalVietnam$24 millionSeries BABC World AsiaAura Private EquityHealthcare
Bot MDSingapore$5 millionSeries AMonk's Hill VenturesHealthtech
OceanShieldSingapore$800,000SeedMasik EnterprisesCybersecurity
StockbitIndonesia$30 millionBircher Capital, Sequoia, Bali I LimitedFinancial Services
AllozymesSingapore$3.3 millionXora Innovation, SOSV, Entrepreneur First, TI PlatformBiotech
Campana GroupMyanmar$1.8 millionAdvanced Information TechnologyTransportation
Global SadaqahMalaysia$111,317Equity crowdfundingAzmi Muslimin, Khaled Fouad, Awais PatniFinancial Technology
BukuwarungIndonesia--Rocketship.vcFinancial Technology
QapitaSingapore--East VenturesFinancial Technology

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.