Robowealth, a Thailand-based robo-advisor for mutual funds, has secured an undisclosed amount in its Series A funding round led by Beacon Venture Capital (Beacon VC), the corporate venture capital arm of Kasikorn Bank (KBank).
Launched in 2017, Robowealth provides complete solutions for robo-advisory and mutual fund investment. The platform allows users to invest in both Thai and global funds, starting from as low as 1,000 baht ($33).
The startup targets both high net-worth individuals while its flagship product suite, Odini, targets everyday people looking for simpler ways to invest and grow their money via automated ready-made mutual funds portfolios.
Beacon VC, the lead investor in the Series A funding round, focuses on strategic investments in early to growth-stage technology startups in the financial technology, consumer internet, and enterprise technology. It has a fund size of $135 million.
Singapore fintech startup Volopay bags $2.1m
Volopay, a Singapore-based financial technology (fintech) startup, announced that it has secured $2.1 million in a seed funding round led by Tinder founder Justin Mateen.
Soma Capital, CP Ventures, Y Combinator, VentureSouq, and Razorpay founders Shashank and Harshil also participated in the funding round. Volopay will use the proceeds for hiring, product development, international expansion, and strategic partnerships.
Volopay provides AI-based real-time expense management software to businesses that need to operate digitally. It seeks to replace spreadsheets, paper checks, and reports with a 10-second expense creation flow.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia from June 18-22, 2021.
