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.