SC Ventures, the fintech funding arm of Normal Chartered, has stepped up funding for its in-house ventures audax and TASConnect, based on filings reviewed by DealStreetAsia.
The filings with Singapore’s Accounting and Company Regulatory Authority (ACRA) present recent capital injections of US$ 5.6 million into audax and US$ 7.4 million into TASConnect.
This brings complete funding to US$ 110 million for audax and US$ 42.3 million for TASConnect.
audax, launched in 2023, gives Banking-as-a-Service and digital infrastructure throughout Asia.
TASConnect, launched in 2022, gives a provide chain finance platform for big corporates, impartial of banking suppliers.
The newest funding for TASConnect follows its July 2024 acquisition of SOLV’s Malaysian unit, a transfer aimed toward increasing its regional footprint and enhancing value effectivity.
It is usually reportedly pursuing SOLV’s Vietnam arm. Earlier this month, SC Ventures invested an extra US$ 5 million in SOLV via a separate share issuance.
SC Ventures combines enterprise constructing with strategic investments, usually focusing on startups from Collection A to pre-IPO phases.
It has launched 19 ventures, holds stakes in 20 portfolio firms, and is incubating a number of extra.
To this point this 12 months, SC Ventures has backed SOLV, Furaha, and FourTwoThree.
It has invested in eight firms over the previous 18 months together with audax and TASConnect.
Featured picture: Edited by Fintech Information Singapore, primarily based on picture by Freepik
