SEA Digest: Singapore’s Aiculus raises $670k; Mastercard, Tonik in pact

Software code on a laptop screen.

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.

 

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.