Robowealth, a Thailand-based robo-advisor for mutual funds, has secured an undisclosed amount in its Series A funding round led by Beacon Venture Capital (Beacon VC), the corporate venture capital arm of Kasikorn Bank (KBank).
Launched in 2017, Robowealth provides complete solutions for robo-advisory and mutual fund investment. The platform allows users to invest in both Thai and global funds, starting from as low as 1,000 baht ($33).
The startup targets both high net-worth individuals while its flagship product suite, Odini, targets everyday people looking for simpler ways to invest and grow their money via automated ready-made mutual funds portfolios.
Beacon VC, the lead investor in the Series A funding round, focuses on strategic investments in early to growth-stage technology startups in the financial technology, consumer internet, and enterprise technology. It has a fund size of $135 million.
Singapore fintech startup Volopay bags $2.1m
Volopay, a Singapore-based financial technology (fintech) startup, announced that it has secured $2.1 million in a seed funding round led by Tinder founder Justin Mateen.
Soma Capital, CP Ventures, Y Combinator, VentureSouq, and Razorpay founders Shashank and Harshil also participated in the funding round. Volopay will use the proceeds for hiring, product development, international expansion, and strategic partnerships.
Volopay provides AI-based real-time expense management software to businesses that need to operate digitally. It seeks to replace spreadsheets, paper checks, and reports with a 10-second expense creation flow.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia from June 18-22, 2021.
|Startup||Headquarter||Investment Size (US)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry|
|Fazwaz||Thailand||$715,000||HB Super Holdings, 500 TukTuks||Real Estate|
|Kulina||Indonesia||$870,000||Monk's Hill Ventures, Coffee Ventures, East Ventures||Food|
|Eureka Robotics||Singapore||$1 million||ATEQ||Robotics|
|Neuroglee Therapeutics||Singapore||$1.5 million||Eisai, Leeu Inc||Medical|
|Tradeteq||Singapore||$9 million||Series A||-||Financial|
|iStox||Singapore||$50 million||Series A||JIC Venture Growth Investments, Development Bank of Japan, Juroku Bank, Mobile Internet Capital, Tokai Tokyo Financial Holdings, Hanwha Asset Management||Financial|
|Robowealth||Thailand||-||Series A||Beacon VC||Financial|
|Gpay||Vietnam||Series A||KB Financial||Financial|
|Finantier||Singapore||$750,000||Seed||EV8 VCC, AC Ventures, Genesia Ventures, Two Culture Capital||Financial|
|Sirclo||Indonesia||$1 million||-||EV8 VCC||Ecommerce|
|Biconomy||Singapore||$1.5 million||Seed||Eden Block, Digital Asset Capital Management, Woodstock Fund||Technology|
|Transcelestial Technologies||Singapore||$2 million||Series A||AG Active Fund, Wavemaker Partners||Telecommunication|
|GoStream||Vietnam||$1 million||-||VinaCapital Ventures||-||Entertainment|
|Volopay||Singapore||$2.1 million||Seed||Justin Mateen||Soma Capital, CP Ventures, Y Combinator, VentureSouq, Razor Pay founders Shashank and Harshil||Financial|