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Venture Capital
lifesreda.com

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Investments

19

Portfolio Exits

2

Funds

7

About Life.SREDA

Life.SREDA is a venture capital firm focusing on investments in FinTech mobile and Internet projects. The Firm's strategy is determined by the deep understanding of the rapidly growing FinTech 2.0 industry and the narrow investment focus. They believe that "The Next Big Thing" is the combination of the past decade's global trends, such us the Social & Mobile with the innovative and bright FinTech ideas.

Life.SREDA Headquarter Location

Blk 79, Ayer Rajah Crescent #05-08

139955,

Singapore

+65 6493 2135

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Latest Life.SREDA News

Russian-linked digibank challenger targets neglected higher-risk clients

Jan 13, 2020

PHOTO: BEYOND CONSORTIUM Singapore THE leadership team behind Singapore-based venture capital firm Life.Sreda has applied for a digital wholesale banking licence here with the aim of serving "abnormal" customers, or what they call higher-risk clients that traditional banks typically reject. Known as Arival, an internal venture spun out of fintech-focused Life.Sreda, the digital bank contender wants to meet the needs of tech startups including blockchain or crypto-related businesses, online businesses and entrepreneurs from co-working spaces which they consider disconnected from the banking system. Its entry to the digital banking scene follows a string of foreign - mostly Chinese - players such as Jack Ma's Ant Financial, TikTok-owner ByteDance, and Xiaomi Finance confirming that they are in the race for a digital wholesale bank licence here. Market voices on: The three digital wholesale bank licences up for grabs will allow successful applicants to serve small and medium-sized enterprises (SMEs) and other non-retail segments. It requires capital of S$100 million and allows foreign entities to take a majority stake. Sign up Arival's three co-founders - Russians Vladislav Solodkiy and Igor Pesin, together with American Jeremy Berger - tell The Business Times that one of Arival's key differentiating factors is its razor-focus on "excluded" segments of customers, instead of trying to provide "everything for everybody". Mr Berger explained: "The focus on 'abnormal' or underbanked SMEs gives us the opportunity to not compete with other digital or traditional banks, avoid spending money on advertising or customer acquisition, and allows us to focus on margins." It does not intend to compete with the likes of big boys such as the incumbent lenders or even other non-bank players such as the Grab-Singtel consortium, he added. Along the way, the digital bank challenger intends to bundle fintech products from third-party service providers on one banking platform powered by open application programming interfaces (APIs). As Arival is not tied to legacy systems and technologies often associated with traditional banks, it will be able to move more quickly and flexibly, according to Mr Berger. It also plans to offer its own banking-as-a-service platform to help other fintechs launch instead of competing with them. He said that their "secret sauce", or key differentiating factor, is its "compliance-as-a-service" product called A.ID that provides compliance solutions that allow plug and play integration and pay-per-use monetisation. Singapore's status as a global startup hub is an added boost for Arival as it intends to serve international businesses. "It's no secret that most of the companies and startups in Singapore are non-Singaporeans," he noted. "The nature of the startup world calls for geographic flexibility, working online, and banks need to meet these expectations to serve the new generation of businesses and entrepreneurs." Arival has also applied for a US-based international banking licence in Puerto Rico, which is said to be in the final stages of getting "preliminary approval". If it goes well, the bank should start sometime in the spring. This banking licence will be "complementary" to the Singapore licence, according to Mr Berger. "It gives us a unique entry to the US banking market as well, and allows us to contribute to an ecosystem that is in need of a natural remedy for economic boost such as fintech," he said. He added that Arival has also started the application process for a banking licence in Europe and hopes to receive it by the end of 2020. If the Singapore digital banking licence is awarded by the Monetary Authority of Singapore (MAS), it will be run by all three co-founders, said Mr Berger. The trio are currently focused on Arival full-time, while duties with Life.Sreda are limited only to the management of the existing portfolio, he added. Based in Singapore since 2014, Life.Sreda has invested in over 20 fintechs globally with nine successful exits to date, including the sale of mobile bank Simple to multinational finance group BBVA Group for US$117 million. Life.Sreda will help Arival to raise any necessary capital and open doors to various potential fintech partners through its own portfolio and global network of banks, fintechs and venture capital funds, said Mr Berger. As a startup, Arival has raised over US$3 million in funding to date through an undisclosed EU-based institutional fund and crowd-funding platforms Seedinvest and Crowdcube. It has plans for a Series A round later this year. MAS earlier said that it has received a total of 21 digital bank applications - 14 of them wholesale, and seven for the full-bank licence. Results are likely to be released by mid-2020 and the new digital banks are expected to start operations by the middle of 2021.

Life.SREDA Investments

19 Investments

Life.SREDA has made 19 investments. Their latest investment was in Baasis as part of their Seed VC on September 9, 2017.

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Life.SREDA Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/22/2017

Seed VC

Baasis

Yes

1

12/29/2015

Series A

Ayannah Global

$1M

Yes

1

10/18/2015

Series A

SoftPay Mobile

$2M

Yes

1

10/14/2015

Series B

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$99M

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10

10/8/2015

Series A - III

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$99M

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10

Date

9/22/2017

12/29/2015

10/18/2015

10/14/2015

10/8/2015

Round

Seed VC

Series A

Series A

Series B

Series A - III

Company

Baasis

Ayannah Global

SoftPay Mobile

Subscribe to see more

Subscribe to see more

Amount

$1M

$2M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

1

1

10

10

Life.SREDA Portfolio Exits

2 Portfolio Exits

Life.SREDA has 2 portfolio exits. Their latest portfolio exit was Lenddo on October 19, 2017.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/19/2017

Merger

1

00/00/0000

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10

Date

10/19/2017

00/00/0000

Exit

Merger

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Companies

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Valuation

Acquirer

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Sources

1

10

Life.SREDA Acquisitions

1 Acquisition

Life.SREDA acquired 1 company. Their latest acquisition was iBoxPro on February 17, 2015.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/17/2015

Acq - Fin

1

Date

2/17/2015

Investment Stage

Companies

Valuation

Total Funding

Note

Acq - Fin

Sources

1

Life.SREDA Fund History

7 Fund Histories

Life.SREDA has 7 funds, including Banking on Blockchain Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2017

Banking on Blockchain Fund

Bitcoin/Blockchain

1

3/21/2017

Life.Sreda FinTech Fund

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$99M

10

10/15/2014

Life.Sreda II

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$99M

10

8/1/2012

Life.SREDA

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$99M

10

Banking on Blockchian Fund

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$99M

10

Closing Date

12/31/2017

3/21/2017

10/15/2014

8/1/2012

Fund

Banking on Blockchain Fund

Life.Sreda FinTech Fund

Life.Sreda II

Life.SREDA

Banking on Blockchian Fund

Fund Type

Bitcoin/Blockchain

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Subscribe to see more

Subscribe to see more

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Status

Amount

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Life.SREDA Team

1 Team Member

Life.SREDA has 1 team member, including former Chief Financial Officer, Alexandr Ivanov.

Name

Work History

Title

Status

Alexandr Ivanov

Chief Financial Officer

Former

Name

Alexandr Ivanov

Work History

Title

Chief Financial Officer

Status

Former

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