Singapore Digest: hoolah raises 8-digit sum; Moovaz snags funding from SCAngels

Singapore-based fintech company hoolah has raised an eight-figure sum in Series A funding round while logistics startup Moovaz has secured an undisclosed sum in its Series A funding round from Supply Chain Angels.

hoolah raises eight-digit investment in Series A

Singapore-based fintech company hoolah has raised an eight-figure amount in its Series A funding round, led by venture capital firm Allectus, a part of the $30-billion PE firm ICM, according to an announcement.

Genting Ventures; Max Bittner, the former group CEO of Lazada; Tim Neville, CEO of global fintech firm FNZ; and existing investor iGlobe Ventures also participated in this round.

This funding round will support hoolah’s expansion into Malaysia plan which was announced last month.

hoolah allows customers to make purchases online on zero interest installments. It launched its commercial operations in Singapore in February 2018, focusing on online merchants in the retail, travel and airline verticals.

“We will continue to focus on enabling our omnichannel solution into new markets, and expanding into new verticals where consumers will enjoy using hoolah to responsibly afford the things they want or need,” said Stuart Thornton, hoolah CEO.

In October 2018, hoolah announced the completion of a seven-figure seed round led by AccelerAsia Ventures and Aletra Capital Partners and joined by iGlobe Partners.

Moovaz raises Series A round from SCAngels

Singapore-based logistics startup Moovaz has secured an undisclosed sum in a Series A funding round from Supply Chain Angels (SCAngels), the corporate venture arm of YCH Group, according to an announcement.

Singapore government-owned firm SGInnovate also joined in this round as a co-investment partner.

Founded in 2017 by Lee Junxian and Jerry Chua, Moovaz specialises in relocation, logistics, freight and also warehousing solutions.

The platform uses big data, machine learning, and blockchain technology to carry out international relocation, local and corporate moves.

Aside from funding, Moovaz will be able to tap into YCH’s business know-how, supply chain processes, and collaborate with YCH’s network of freight forwarding partners. SCAngels, in turn, will provide Moovaz market access through multiple networks across the Asia region.

SCA looks at technology focus areas such as the “Uberisation” of logistics, IoT, 3D printing, big data, robotics and fintech.

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.