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kindrik partners advises blockchain startup coins.ph on US$5m series A funding
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Chris Wilson recently advised Coins.ph (a Philippines based startup) on its US$5m series A investment round, led by Accion Frontier Inclusion Fund (managed by Quona Capital). Innovation Endeavours, Pantera Capital, Digital Currency Group, Wavemaker Labs, Global Brain, BeeNext and Rebright Partners also participated in the round, along with some existing shareholders that include Kickstart Ventures and Ideaspace Foundation.
Coins.ph uses blockchain technology to provide an alternative banking system to unbanked individuals in Southeast Asia. Its financial services include money remittances, bill payments and mobile credit top-up. Coins.ph is also involved in a push to increase the use of Bitcoin in the region.
Coins.ph co-founder and CEO Ron Hose has said that the funding will be used primarily to fund growth in their existing markets.
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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.
