Weekly roundup: Robowealth, Volopay and 13 other SE Asia startups raise funds

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.

Expand Table

StartupHeadquarterInvestment Size (US)Investment StageLead Investor(s)Other Investor(s)Industry 
FazwazThailand$715,000HB Super Holdings, 500 TukTuksReal Estate
KulinaIndonesia$870,000Monk's Hill Ventures, Coffee Ventures, East VenturesFood
Eureka RoboticsSingapore$1 millionATEQRobotics
Neuroglee TherapeuticsSingapore$1.5 millionEisai, Leeu IncMedical
TranSwapSingapore$3.3 millionAMTDFinancial
TradeteqSingapore$9 millionSeries A-Financial
iStoxSingapore$50 millionSeries AJIC Venture Growth Investments, Development Bank of Japan, Juroku Bank, Mobile Internet Capital, Tokai Tokyo Financial Holdings, Hanwha Asset ManagementFinancial
RobowealthThailand-Series ABeacon VCFinancial
GpayVietnamSeries AKB FinancialFinancial
FinantierSingapore$750,000SeedEV8 VCC, AC Ventures, Genesia Ventures, Two Culture CapitalFinancial
SircloIndonesia$1 million-EV8 VCCEcommerce
BiconomySingapore$1.5 millionSeedEden Block, Digital Asset Capital Management, Woodstock FundTechnology
Transcelestial TechnologiesSingapore$2 millionSeries AAG Active Fund, Wavemaker PartnersTelecommunication
GoStreamVietnam$1 million-VinaCapital Ventures-Entertainment
VolopaySingapore$2.1 millionSeedJustin MateenSoma Capital, CP Ventures, Y Combinator, VentureSouq, Razor Pay founders Shashank and HarshilFinancial

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.