Fundings and Exits

OpenFin, the company looking to provide the operating system for the financial services industry, has raised $17 million in funding through a Series C round led by Wells Fargo, with participation from Barclays and existing investors including Bain Capital Ventures, J.P. Morgan and Pivot Investment Partners. Previous investors in OpenFin also include DRW Venture Capital,
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Alibaba Group has acquired about RMB 4.36 billion ($635 million) worth of convertible bonds in Red Star Macalline, one of China’s biggest furniture retailers. If converted, this would give Alibaba about a 10 percent stake in the company. It also purchased 3.7 percent of Red Star Macalline’s publicly traded shares on the Hong Kong stock
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Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut
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Sisense announced today that it has acquired Periscope Data to create what it is calling a complete data science and analytics platform for customers. The companies did not disclose the purchase price. The two companies’ CEOs met about 18 months ago at a conference, and running similar kinds of companies, hit it off. They began
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Tempo Automation, a San Francisco-based startup that helps shorten the time from prototype to production for electronics manufacturers, announced today that it has raised a $45 million Series C led by returning investor Point72 Ventures. The round also includes new investor Lockheed Martin and existing investors Lux Capital and Uncork Capital. The company’s turnkey solution
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Founders might not believe it, but managing a venture capital firm isn’t all that dissimilar to a startup. Case in point today: InnoVen Capital, one of Asia’s most prominent venture debt firms, has pulled in $200 million in new money to continue its expansion in the region. The money comes from InnoVen’s two shareholders —
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Rimac Automobili, the European EV startup that landed an investment from Porsche last year, has again gained the backing of traditional automakers after Hyundai Motor Company and Kia Motors jointly invested €80 million, or around $90 million. Beyond the significant cash infusion, the three parties said the deal includes “a strategic partnership to collaborate on
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Slack this morning disclosed estimated preliminary financial results for the first quarter of 2019 ahead of a direct listing planned for June 20. Citing an addition of paid customers, the workplace messaging service posted revenues of about $134 million, up 66% from $81 million in the first quarter of 2018. Losses from operations increased from
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Cloud kitchens are the big thing in food delivery, with ex-Uber CEO Travis Kalanick’s new business one contender in that space, with Asia, and particularly Southeast Asia, a major focus. Despite the newcomers, a more established startup from Singapore has raised a large bowl of cash to go after regional expansion. Founded in 2014, Grain
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Founders in Seattle recently bemoaned a lack of capital and support when compared to Silicon Valley — what about those building startups in more remote markets? Kargo, a company that takes the spirit of Uber and brings it to the disorganized world of trucking, has raised a SG$800,000 (US$580,000) round of funding, giving TechCrunch an
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Square has acquired conversational artificial intelligence startup Eloquent Labs to help its merchants improve customer service. Eloquent Labs, which raised a $1.5 million seed round back in early 2017, offers to small businesses a conversational assistant named Elle. The idea is that Elle will help merchants with common customer service-related issues like returns, product tracking
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Urban Jungle, a digital insurance startup targeting so-called “generation rent” with a range of insurance products, has raised £2.5 million in seed funding round. The round is said to be backed by a mixture of new and previous investors, including Rob Devey, ex CEO of Prudential UK, and Simon Rogerson, CEO of Octopus Group. Described
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Cross-border fintech continues to be an area of interest for venture capitalists. The latest deal sees GGV Capital — the U.S-China firm that’s backed Xiaomi, Airbnb, Square and others — lead a $10 million investment in Singapore-based startup Thunes. Other investors in the Series A round are not being disclosed at this point. Thunes —
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