Fintech
Cocoon Capital launches second $22m seed fund targeting enterprise tech founders who “dare to change”
Cocoon Capital, the leading early-stage venture firm in Southeast Asia today announced the successful raise of its second fund at USD 22m (SGD 30m) targeting enterprise tech startups around the region. The fund also announced its initiative of hosting public mentoring hours regularly across Singapore, Ho Chi Minh, Hanoi, Manila, Bangkok, Jakarta and Yangon to help grow the local entrepreneurial ecosystems. The support will be provided in partnership with local accelerators and co-working spaces.
Cocoon Capital was founded in 2016 by two of the most seasoned early-stage investors in Asia, Michael Blakey and Will Klippgen. The duo has done more than 60 seed tech investments since 2000 and seen over 15 exits across Europe and Asia. Having funded Asian success stories like PropertyGuru, Tickled Media and iXiGO.com, the partners have proven that early-stage investing can bring record-breaking returns through the right mix of capital and hands-on mentoring.
The tech market in Southeast Asia is accelerating faster than predicted. Google and Temasek reported that the 2018 “e-conomy” was at $72b with the B2C ecommerce volume doubling from the year before. The internet economy is on track to reach as much as $240b by 2025. Southeast Asia sees businesses moving online and adopt technology to increase sales, productivity as well as governance. In a survey by Econsultancy.com Ltd 68% of respondents in Southeast Asia said they have an omnichannel strategy that incorporates B2B ecommerce.
In spite of the above, only 7% of venture capital has been channeled to B2B startups in the region. Cocoon Capital’s second fund is targeting the enterprise tech market and has singled out startups within medtech, fintech, insurtech and general “deep” tech as primary targets.
“Over the last 3 years, we at Cocoon Capital have seen a radical improvement in deal quality, in particular from the Southeast Asia countries outside Singapore,” said Michael Blakey, Managing Partner at Cocoon Capital. “The region has gigantic challenges that need to be solved by technology, and we believe we can help founders build and scale their companies faster.”
“There is a continuing gap in the region when it comes to hands-on mentoring, in particular at the early stages of a company’s formation, and Cocoon Capital has fine-tuned its operation to provide a tailored and comprehensive support package to our founders,” added Will Klippgen, Managing Partner at Cocoon Capital. “Many founders in the region lack a support network similar to those in Silicon Valley, London or Shanghai, and we are here to change that,” he added.
In line with Cocoon’s new tagline – Dare to Change, Cocoon Capital’s second fund is supported by investors who have pushed the boundaries and excelled in their fields. They include Michelle Yong (Director of Singapore’s Aurum Investments), Jani Rautiainen (Co-founder of PropertyGuru), Parag Khanna (The author of “The Future is Asian”), Pierre Lorinet (Director at Trafigura Group), Matthew Chapman (Founder of ChapmanCG), Stein Jakob Øie (Former President at Lazada), hedge fund manager Steve Diggle’s Vulpes Innovative Technologies Investment Company, Martin Hauge(Partner in Creandum – streaming giant Spotify’s first financial investor), Martin Roll (Global strategy consultant) and Oliver Tonby (Chairman of McKinsey’s offices in Asia excluding Greater China).
Cocoon Capital’s portfolio is already showing emerging success stories including cleantech company SensorFlow which is soon saving energy across 20,000 hotel rooms. Medtech company See-Mode has already deployed software predicting future strokes to hospitals in Singapore and is under way to do a global roll-out. Ticketing company Hapz has seen tremendous growth so far this year and was recently selected as the official ticketing partner for the Singapore National Day Parade 2019. The Filippino e-merchant Poundit sources high-end electronics and enables safe shopping at competitive prices with high-end customer service. Hiip, a Vietnam-based adtech company, has seen strong and consistent revenue growth providing an automated influencer matching platform using social media data and AI. Hiip recently expanded to Thailand and Indonesia.
The newly raised fund has already invested in Kargo Myanmar, Myanmar’s leading logistics platform. The company is expanding rapidly by not only enhancing supply chain management for its customers but also improving the productivity and well-being of its drivers.
SOURCE Cocoon Capital
Fintech
Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Fintech
Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
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Fintech
Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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