Private market exchange ADDX is looking to expand its platform into the GCC and MENA markets, while travel platform Wego has acquired business travel platform Travelstop.
ADDX eyes GCC, MENA markets
SGX-backed ADDX is looking to expand its platform into the Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets.
The expansion seeks to drive a more efficient allocation of strategic growth capital and bridge the gap between private companies seeking financing and capital providers.
By expanding into the MENA region, ADDX will expand access to strategic growth capital for pre-IPO companies not only from local market financial institutions and investment funds but also from funds across Asia and key financial markets worldwide.
Established in 2017, ADDX uses blockchain and smart contract technology to automate manual processes throughout the investment lifecycle to avail fractional units and secondary trading on its platform.
Wego buys Travelstop
Singapore-based travel platform Wego has acquired business travel platform Travelstop, according to a release.
Wego plans to foray into business travel and expense management through the acquisition, while Travelstop can tap Wego’s regional network and leverage its understanding of the travel industry to drive growth and provide enhanced services to its customers.
“This strategic move is in line with our vision of offering comprehensive travel solutions to businesses in the region,” said Ross Veitch, CEO and co-founder of Wego.
The combined platform will provide businesses with a one-stop solution, enabling them to seamlessly manage their corporate travel needs while gaining greater visibility and control over expenses.