iPeakoin, a neobank dual headquartered in Singapore and Hong Kong, has raised almost $10 million in its Series A funding round while shareholders of Temasek-backed blank cheque firm Vertex Technology Acquisition Corporation (VTAC) have voted to merge with 17Live.
Neobank iPeakoin secures nearly $10m in Series A
iPeakoin, a neobank dual headquartered in Singapore and Hong Kong, has announced raising nearly $10 million in a Series A funding round anchored by Beijing-based venture investor ZhenFund.
The startup, founded in 2020, is building solutions that bridge traditional finance and the crypto industry. Its product suite includes crypto wallet for enterprise, global account, quantum virtual card, and particle treasury.
iPeakoin’s clients include those from traditional industries such as advertising and gaming to global trade and Web 3.0 projects, per the announcement. The company claims that its focus on product differentiation and compliance has led to a fivefold growth in 2023.
iPeakoin said it is investing heavily to build up banking infrastructure across multiple continents, including the Middle East, Latin America, and India.
VTAC okays merger with live-streaming platform 17Live
Shareholders of Temasek-backed blank cheque firm Vertex Technology Acquisition Corporation (VTAC) have voted to merge with 17Live, a live-streaming platform based in Japan and Taiwan.
The move, announced at an extraordinary general meeting on December 1, makes VTAC the first Singapore-based special purpose acquisition company (SPAC) to acquire a target.
VTAC was Singapore’s first SPAC to be listed, going public in early 2022 and raising about S$200 million.
About 95.53% of VTAC’s shareholders agreed on the acquisition of 17Live for about $800.8 million through the issuance of around 162 million new shares at $5 apiece.
17Live is a Vertex portfolio company. It is also a portfolio company of fellow Temasek affiliates Pavilion Capital and Innoven Capital.