Asia Digest: Spiking raises $875k pre-Series A; SGshop taps equity crowdfunding

Marina Bay Financial Centre, Singapore. Photo: sayhitobel/unsplash

Aly Pte. Ltd., the Singapore company behind the stock market tracking app Spiking, has raised $874,440 in a pre-Series A funding round while Malaysia’s SGshop is planning to raise RM500,000 ($121,682) from equity crowdfunding platform Ata Plus.

Spiking raises $874,440 pre-Series A

Aly Pte. Ltd., the Singapore company that runs stock trading app Spiking, has announced the close of its pre-Series A funding round at S$1.2 million ($874,440).

Key investors in the round include Julian Chesser, Managing Director, Financial Markets, Singapore, IHS Markit; Carl Wang, General Manager, Eyougame; and Lisa Theng, Managing Partner, Colin Ng & Partners LLP.

The new fundraising brings the total raised in the seed and pre-Series A rounds to S$2.23 million ($1.6 million).

Launched in April 2016, the Spiking app aims to help the average trader follow reputable investors as they buy and sell shares on the stock market. The app addresses questions like how traders verify data on whales, their sentiments, and how to collect and verify such data, and when to buy or sell.

Its coverage currently extends to six stock exchanges in four markets: the US, Singapore, Malaysia and Hong Kong.

SGshop to tap equity crowdfunding

Malaysian cross-border shopping site SGshop plans to raise RM500,000 ($121,682) through equity crowdfunding on Kuala Lumpur-based Ata Plus.

According to an official release, SGShop plans to use the funds to expand beyond Malaysia and tap the wider ASEAN market.

More specifically, it will use the capital to enhance its technology infrastructure, upscaling its logistics capabilities and expanding its product range and marketing initiatives.

Established in 2015, SGshop provides product quality assurance services and cost-competitive shipping options. It claims to have served over 70,000 users thus far.

“We are eyeing further expansion by strengthening our market share in Malaysia, emerging as the premier gateway for safe international online shopping; and subsequently penetrating regional and international markets,” added Lua Cheong Rui, Co-founder and Chief Operating Officer of SGshop.

Also Read:

Singapore: Spiking closes oversubscribed seed round of S$1m

Ata Plus launches equity crowdfunding platform in Malaysia 

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.