SEA Digest: SG's RootAnt raises $1.46m seed round; Vietnam's Do Ventures invests in F99
Summary
Singapore-based banking-as-a-service startup RootAnt has raised $1.46 million in a seed funding round led by Linear Capital with participation from KZM & Company Group, according to an announcement. The fintech startup said it will utilise this capital for expansion in Singapore, rest of Southeast Asia, and Japan, with an aim to provide both anchor corporates and SMEs with new and enhanced solutions on its platform. Linear Capital, established in 2014 by Facebook’s second Chinese engineer and first R&D manager Harry Wang, is an early-stage venture from Shanghai, focusing on technology-driven startups. The company said that it will use the proceeds to develop the technology platform, build cold supply chains, and enhance the distribution system for a better customer experience. Do Ventures seeks investment opportunities in technology startups with outstanding execution capabilities that are able to develop convenient products and services to improve the lives of consumers in Vietnam and Southeast Asia.