Singapore-based fintech startup FOMO Pay received $13 million in Series A funding last week from investors including Jump Crypto, HashKey Capital, Antalpha Ventures, Ab Initio Capital, and Republic Capital.
According to regulatory filings, lead investor Jump Crypto invested $3.5 million in the round, while HashKey, Antalpha and Ab Initio contributed $3 million each. Following the financing and the impending roll-out of an employee share option plan, the fintech company’s valuation will go up to $151.5 million, according to DealStreetAsia calculations.
FOMO Pay was the first firm in Singapore to receive the Monetary Authority of Singapore’s (MAS) approval to offer Digital Payment Token Services. It plans to use part of the proceeds from its Series A round to expand its product offerings, including working with regulators on Central Bank Digital Currency (CBDC) projects.
In other news, Asian mixed martial arts (MMA) media firm ONE Championship has relocated its holding company to the Cayman Islands.
According to the company’s regulatory filings, all the shares held by its existing shareholders were transferred to an entity called Group One Holdings (Cayman) last week.
On the following day, the holding company acquired a Legal Entity Identifier (LEI) code, a unique global identifier for legal entities participating in financial transactions, which is a prerequisite for listing on certain exchanges, including Nasdaq, New York Stock Exchange (NYSE) and London Stock Exchange.
Other updates from DATA VANTAGE
Chocolate Finance, a Singapore-based fintech startup, raised $19 million in a Series A round led by Sequoia India. The startup is the brainchild of Walter de Oude, who is the founder and former group CEO of homegrown insurer Singlife, which acquired and merged with Aviva Singapore in 2020 in one of the largest insurance deals in the region.
Frankfurt-listed Delivery Hero has injected more funds into foodpanda Singapore, bringing its total investment in the unit this year to $30 million. Foodpanda, which operates in 11 Asian markets, aims to strengthen its business in Southeast Asia as it faces strong competition from the likes of GoTo, Grab and Shopee.
Singapore-based venture capital firm Jungle Ventures has led an $8.5 million Series A round in Vietnam-based healthcare and insurance platform Medici.
KLAR, an Indonesian aesthetic dentistry tech startup, has raised $4.5 million in a pre-Series A funding round led by existing backer AC Ventures.
Crypto platform Flint received $1.45 million this week from Hashed, Antler and other investors as part of a $5.1 million seed round announced in January.
Vietnam-based flexible pay startup Nano Technologies added Beacon VC, the venture capital arm of Thailand’s Kasikornbank PLC, to its cap table last week. The startup had announced a $6.4 million pre-Series A round earlier this month.
Singapore-based proptech startup 99 Group received more capital this week as part of a $52 million Series C funding round led by Gaw Capital.