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kindrik partners advises on seed funding round for fintech startup jazzypay
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Our Southeast Asia team have advised Philippines-based fintech company JazzyPay on its seed funding round led by early-stage venture capital firm Cocoon Capital.
JazzyPay allows its partners to accept payment via 27 payment methods, including credit and debit cards, online banking, e-wallets and over-the-counter deposits. The company was launched in 2018 and has been serving merchants that typically have only accepted cash and cheque payments, including organisations such as hospitals, schools, clinics and medical suppliers.
“In an emergency, the payment method should be the least of your worries,” JazzyPay Chief Operating Officer and co-founder Kathleen Acosta said.
The company intends to put the funding towards product development as well as expanding its network of partner merchants.
Senior solicitor Sarah Yen says of the deal, “It was a pleasure to help JazzyPay with their capital raise – they are solving a real need for Filipinos and we look forward to seeing their continued growth.”
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Kindrik Partners advised VC firm Illuminate Financial on its investment in Singapore-based AI-driven data processing and automation company bluesheets. Illuminate led the US$6.5 million series A round. Other returning investors included Insignia Ventures Partners, Antler Elevate, and 1982 Ventures.
Illuminate invests in B2B fintech and enterprise software companies that build solutions for the financial services industry. Backed by global financial institutions such as Citi, JP Morgan, Barclays, Jefferies, Singapore Exchange Group, and BNY Mellon, Illuminate uses its extensive network and industry knowledge to help their portfolio companies achieve their full potential in addition to providing capital.
bluesheets offers AI-driven data processing and workflow automation software that helps businesses digitise and automate their bookkeeping processes. It plans to use the funds to further enhance its AI capabilities and accelerate growth in key APAC markets, including Singapore, Thailand, ANZ, and Hong Kong.
We’re happy to have advised Singapore-based synthetic data company Betterdata on an oversubscribed seed round of $1.65 million, led by Investible.
The company was founded in 2021 by Dr. Uzair Javaid and Kevin Yee and allows clients to share data faster and more securely in compliance with stricter data privacy regulations being introduced around the world. Betterdata uses generative AI to convert real data into synthetic data that looks, feels, and behaves like real datasets. These synthetic datasets retain the structure and correlations of the original data while eliminating the privacy and security concerns that come with holding and sharing sensitive data.
Betterdata plans to use the funding to publicly launch its product, hire more staff as the company scales, and improve its technology stack, with the aim of providing support for single-table, multi-table, and time-series datasets. The company also plans to expand across the Asia-Pacific region over the next two years.
