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kindrik partners advises fintech startup neat on US$11m series a
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We recently helped Neat, a Hong Kong-based fintech startup, raise US$11M in its Series A deal led by Pacific Century Group. Other investors included Visa and MassMutual Ventures, as well as existing Neat investors Dymon, Linear Capital and Sagamore Investments.
Neat started over two years ago with a focus on making business accounts accessible to startups and SMEs in Hong Kong. Neat now powers the finances of thousands of companies and has offices in Hong Kong, Shenzhen and London. The series A funds will go towards further expansion, primarily focusing on businesses that trade between Europe and Asia.
Neat’s co-founder and CEO David Rosa said of working with Kindrik Partners, “Fundraising for a startup company is an extensive process. We have ambitious goals and Kindrik Partners’ meticulous support and extensive expertise throughout has helped bring us closer to our vision of helping global entrepreneurs.”
Lee Bagshaw, who heads our Southeast Asia practice, commented, “With so much uncertainty globally it’s great to see significant startup financing rounds still closing in Hong Kong, particularly in high growth areas such as fintech. We’re excited to support Neat on its journey to serve entrepreneurs and startups.”
Read our other recent deal announcements here.
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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.
