Asia Digest: Loan platform Jeff App, Pakistan's Truck It In bag funds in extension rounds
Summary
Jeff App, a Latvian loan brokerage platform that has operations in Vietnam, has bagged a $1.5 million seed extension round led by Nordic VC firm J12 Ventures, to accelerate key hires and expansion into other Southeast Asian markets. The fresh capital will be used to scale the company’s team from 15 to over 40 employees, which will help with its market expansion, growth in B2B sales and partnerships, and offline services. “This extra capital injection will help us to reach even more customers and set up for a strong Series A in 2022,” said Jeff App co-founder and CEO Toms Niparts. He added that data from the company’s platform has attracted larger partners and brands to collaborate in co-branded services and joint solutions. “We’re at the very early stages of transforming a critical industry and aim to help over 3 million businesses save $1 billion annually in supply chain inefficiencies,” said Muhammad Sarmad Farooq, CEO and co-founder at Truck It In.