Payables software startup Spenmo has raised $85.35 million in a Series B round led by New York-based investment giant Tiger Global Management, according to regulatory filings.
The round is a mix of primary and secondary transactions.
DealStreetAsia had in December reported the Singapore-based company’s plans to raise around $50 million in equity funding and rope in Tiger Global as the lead investor in its new round.
According to an industry source aware of the development, the round was oversubscribed and the company had originally sought to raise a maximum of $60 million.
