Singapore-based software security provider Aiculus has raised $670,000 in a seed financing round while Mastercard has announced a new partnership with Tonik, a two-year-old startup that recently received a bank license in the Philippines.
Singapore’s Aiculus raises $670k seed round
Singapore-based software security provider Aiculus raised $670,000 in a seed financing round led by early-stage venture capital firm Cocoon Capital alongside an angel investor.
The company said that it will use the capital to expand its technology team and accelerate growth across Australia, Singapore and Southeast Asia.
“Aiculus is addressing a key need for financial services to secure their data and services while adapting to a more open financial infrastructure,” said Will Klippgen, Managing Partner at Cocoon Capital.
Klippgen recently joined the Aiculus board of directors.
Aiculus earlier participated in ICE71 Accelerate, a three-month accelerator programme for early-stage cybersecurity startups. It received funding from the ICE71 co-founders – Singtel Innov8, and NUS Enterprise.
Mastercard & Tonik enter a partnership
Mastercard has announced a new partnership agreement with Tonik, a two-year-old startup that recently received a bank licence in the Philippines.
The pact with Mastercard will enable Tonik to issue a range of electronic payments products when it launches operations later this year, according to a statement.
Tonik is the first digital-only neobank in the Philippines. It provides deposit, loan, payment, and card products to consumers on its digital banking platform.