Mar 7, 2023

Indonesian auto financing startup Broom issued shares worth $13.3 million last week to a group of investors. The transaction comprises the allotment of Series A shares worth $8 million issued to Openspace Ventures and other investors and seed shares to SAFE holders that backed its pre-seed round. Broom had raised $3 million in pre-seed funding from AC Ventures, Quona Capital, and several angel investors, including the founders of Kopi Kenangan and Lummo, in February last year. In conjunction with the new round, Broom has appointed its COO Claussen Sindhuwinata, Quona Capital partner Dan Bertoli, and Openspace Ventures executive director Ian Sikora to its board of directors. Top shareholders in Broom Source: DATA VANTAGE Used car marketplace Carro received $3 million last week from Singapore-based insurance technology player ZA Tech. Its share price remains unchanged from its previous financing in 2022. Carro had announced securing the investment from the insurtech company last month without disclosing the quantum. The SoftBank-backed unicorn also added UAE-based classifieds player EMPG to its cap table last week in a move indicative of its acquisition of Thailand-based Kaidee . Other updates from DATA VANTAGE Singapore-based e-commerce enabler Anchanto received nearly $450k from Switzerland-based logistics company Asendia in Series C funding last week. SaaS startup ServiceQuik , the company behind SME business management software ZING, received capital from the Irwin Family Trust, a Queensland-based discretionary trading trust, last week. Singapore-based private capital raising platform CapBridge and digital alternatives marketplace Alta (formerly known as Fundnel) received capital infusions from their parents last week. Global Founders Capital partner Franzi Lorenzo pared his holding in consumer insights platform Zaapi last week by selling some shares to Flash Ventures. Indonesia-based insurtech startup Qoala posted a fourfold revenue growth in the financial period ended December 31, 2021, while its net losses widened by 2.6 times. Singapore-domiciled digital payroll platform Skuad reported a 12% drop in revenue for the year ended May 31, 2022. Its net loss increased by nearly seven times during the period. Indonesian trucking startup Ritase saw its net loss balloon over 100x in the financial year ended Dec 31, 2021. The company was reportedly looking for a buyer.