Fintech startup Klub, which provides growth financing to digital brands, received $10 million in fresh funding this week from investors, including 9Unicorns and return backer Surge.
In 2021, the company had raised $20 million in seed funding from US-based investor Alter Global and Japan-based GMO VenturePartners.
Earlier this week, Klub announced the final close of its $25-million maiden fund, Acelere8.
Acelere8 was launched in December last year and has invested in about 33 companies to date, including BluSmart, Ben Franklin, Bewakoof, Furlenco and SMOOR Chocolates, among others. Since its inception, Klub claims to have invested in 300 brands across more than 600 rounds.
Top shareholders in Klub
This week, we delved into the financial performance of used car marketplace Carsome based on its regulatory filing in Singapore. At a group level, it reported a doubling of revenue in the financial year ended Dec 31, 2021, while its net losses surged more than sevenfold.
“We’ve been prioritizing margin performance and group profitability since the start of the year and have been reducing operational loss quarter by quarter. Internally, we are pushing for group-level EBITDA breakeven by H2 2023,” a Carsome spokesperson told DealStreetAsia.
Other updates from DATA VANTAGE
Earned wage access startup Paywatch received $4.55 million this week from investors, including Third Prime, as part of a $5.25 million seed round announced in January.
Vietnamese D2C e-commerce startup Coolmate received $1 million from GSR Ventures this week. The capital injection is part of an additional $2.3 million in Series A funding announced by the company this week. The new financing, it said, is a mix of primary and secondary transactions. Coolmate had previously raised $2 million in the round from Access Ventures and other investors.
Pomelo Fashion allotted shares worth $1.32 million this week to investors, including TA Activity Singapore, the investment vehicle of Skype’s late co-founder Toivo Annus, and Ambient Sound Investments, a private investment firm launched by former Skype founding executives.
Fintech startup Airwallex sent $1.25 million this week to its Singapore unit. It officially launched its operations in the city-state in January this year and has so far invested $4.5 million in the subsidiary, according to regulatory filings. Airwallex recently rolled out its virtual multi-currency Visa business debit card and expenses solution in Singapore.
Medical claims administrator MiCare, a subsidiary of Zuellig Pharma, generated $16 million in revenue in the financial year ended Dec 31, 2021. The company had secured $60 million in funding from International Finance Corporation and Mitsui last year.
Medical device maker ABM Respiratory Care reported a nearly 18% jump in revenue in the financial year ended March 31, 2022. Its profit before interest, however, dipped 29% year on year during the period.
Digital private wealth platform Kristal.AI, which is backed by IDG Ventures and Chiratae Ventures, nearly quadrupled its revenue in the financial year ended Dec 31, 2021. Its profit before interest more than doubled during the period.
Access the latest financials of Luno Singapore, Zilliqa, INEX Innovate and several other companies with DATA VANTAGE.