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kindrik partners advises fintech services startup split on seed round
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Kindrik Partners recently advised Split on its seed investment round led by 500 Startups.
Split is a ‘buy-now-pay-later’ service that gives businesses the ability to offer payment via interest-free instalments. Its solution can be integrated with offline stores, e-commerce platforms, and businesses that sell via chat apps or social media.
Split was founded in 2018 by Dylan Tan and Vishvesh Suriyanarayanan as a part of venture builder Entrepreneur First’s talent investment programme.
Chris Wilson, who heads our Singapore office, commented, “Fintech startups with strong offerings are continuing to successfully attract capital in these times, particularly startups like Split that are offering solutions that help businesses address shifts in consumer spending behaviour.”
Khailee Ng, managing partner of 500 Startups says of the deal, “We see incredible potential in how their instalment payment service works not just for large retailers but also serves a massive longtail of small and medium businesses selling online, offline or via social commerce.”
The startup has so far partnered with brands across Malaysia and Singapore. We look forward to seeing the company grow.
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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.
