PH startup Peddlr scores $500k in pre-seed funding and other SE Asia deals

Peddlr, a Philippine-based SaaS startup that offers digital accounting, bookkeeping, inventory, management, and digital storefront to MSMEs, has raised $500,000 in its pre-seed funding round, per an announcement.

The funding round was led by Foxmont Capital Partners, an early-stage venture capital firm headquartered in the Philippines, and backed by Kaya Founders Investment, an early-stage investor backed by Lisa Gokongwei of JG Summit. A host of angel investors, including Paulo Campos (Zalora), Constantin Robertz (Locad), Luis Sia (PayMongo), and Aaron Kemmer (Magic), among others, also participated in the funding round.

Peddlr, co-founded by Nel Laygo and Aiko Reyes, said it will use the fresh capital to accelerate user growth and further develop its infrastructure.

The startup provides MSMEs with digital tools so they can participate in the rapid digitalisation of the Philippine economy. It offers a free digital bookkeeping app that enables business owners to record sales, manage credit, and track inventory.

MSMEs are vital to the Philippine economy as they comprise about 99.5% of business establishments in the country and employ around 63% of the country’s workforce, according to data from the Philippine Statistics Authority.

SG digital assets trading platform Sparrow scores $4.4m

Singapore-based options trading platform Sparrow announced raising $4.4 million in its Series A funding round anchored by existing investor Gain Loyal.

Sparrow, established in 2018, operates a digital assets trading platform for individual subscribers. In addition, it works with financial institutions and family offices in designing digital assets solutions.

The startup said it intends to use the fresh funds to create more solutions that it hopes will bridge the gap between traditional finance and digital assets. It also seeks to improve its KYC, AML, and CFT regulatory framework and will continue to grow its workforce across all its functions.

The company has generated over $3.5 billion of notional volume through its trading platform as of October 2021. It also had more than $300 million of assets under management, according to the announcement.

The lead investor, Gain Loyal Pte Ltd, is an investment company that focuses on real estate investments in Asia.

Ex-Grab exec’s PH startup Lista scores funding

Lista, a bookkeeping app for MSMEs in the Philippines co-founded by a former Grab executive, has raised an undisclosed amount of funding from 1982 Ventures, East Ventures, and Saison Capital

The funding round also saw the participation of Monde Nissin Family Ventures’ Willy Arifin and other angel investors, including former Grab Philippines president and co-founder Brian Cu, Pinelabs CEO Amrish Rau, CRED founder Kunal Shah, Jupiter Bank CEO Jitendra Gupta, and Google APAC senior executives Aurelien Pichon and Alap Bharadwaj.

Lista was co-founded by entrepreneur Aaron Villegas and Khriz Lim, a former Grab executive who led GrabFood’s expansion into the region. Since its launch in September, Lista said it helped collect close to $1.5 million in receivables of MSMEs all over the Philippines.

The app offers a way for small business owners to manage finances such as tracking debts, recording transactions, and even issuing invoices.

“Through this app, we want to revolutionize the way MSMEs operate and provide them with a reliable digital partner for small businesses in the country,” Lim said.

MSMEs are vital to the Philippine economy as they comprise about 99.5% of business establishments in the country and employ around 63% of the country’s workforce, according to data from the Philippine Statistics Authority.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has put together a table listing out prominent venture capital transactions in Southeast Asia for the week starting November 8, 2021.

Expand Table

StartupHeadquartersInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
DishServeIndonesiaPre-Series AGenting Group, Insignia Venture Partners, Stonewater Ventures, Ratio Ventures, Rutland Ventures, 300x Ventures, and MyAsiaVCCloud Kitchen
Moduit DigitalIndonesia$4,500,000Pre-Series AReciprocus Moduit HoldingWealthtech
The Assembly PlaceSingapore$4,100,000SeedEric Low See ChingProptech
FraxtorSingapore$1,300,000Pre-Series ABaksh Capital, Andes FundBlockchain
KasualIndonesiaSeedEast VenturesRetail
ParasIndonesia$5,000,000SeedBlack Dragon Capital, Dragonfly Capital, Moonwhale Capital, Digital Renaissance, and GFS VenturesNFT Marketplace
Eden Farmindonesia$19,000,000Series AAppWorks, AC VenturesTrihill Capital, OCBC Ventures, Investible, Corin Capital, Global Founders CapitalAgritech
ListaPhilippines1982 Ventures, East Ventures, Saison CapitalAlternate Ventures, Monde NIssin Family VenturesSoftware
Forza IkoniaSingapore$1,250,000True Global VenturesFintech / NFT
GuildFiThailand$6,000,000SeedDeFiance Capital, HashedPantera Capital, Coinbase Ventures, Animoca Brands, Dapper Labs, Play VenturesGaming
Yugo Private AviationSingapore$300,000Pre-SeedBellone Invest, Negocia Capital, LCH InvestmentMobility
KasualIndonesiaSeedEast VenturesRetail
HypefastIndonesia$19,500,000Series AMonk’s Hill Ventures, Jungle Ventures, Strive, Arkblu Capital, Amand VenturesEcommerce
SparrowSingapore$4,400,000Series AGain LoyalFintech
TreeDotsSingapore$11,000,000Series AAmAsia, East VenturesActive Fund, SEEDS CapitalFoodtech
OnlinePajakIndonesia$5,000,000Series CVisaSoftware
Milieu InsightSingapore$5,000,000MassMutual Ventures Southeast AsiaOSK Ventures International Berhad and Genesis Alternative VenturesData Analytics
PeddlrPhilippines$500,000Pre-SeedFoxmont Capital PartnersKaya Founders Investment, Angel investorsSaaS
GoToIndonesia$1,300,000,000Pre-IPOAbu Dhabi Investment Authority (ADIA), Avanda Investment Management, Fidelity International, Google, Permodalan Nasional Berhad (PNB), Primavera Capital Group, SeaTown Master Fund, Temasek, Tencent, and Ward FerryTech

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.