Singapore-based FintTech Zipmex Reveals USD41M Series B Led by B Capital and TNB Aura

Zipmex, a leading digital asset platform in Asia-Pacific, announced the close of its US$41 million Series B round with participation from B Capital, TNB Aura, and V Ventures. They join Bank of Ayudhya’s Krungsri Finnovate (BKK:BAY), Plan B Media (BKK:PLANB) , Master Ad (BKK:MACO), MindWorks Capital, and returning investor US-based Jump Capital, who led the Series A round in January this year.

“We are thrilled to announce the final set of investors who are supporting our dream to allow the next billion in Asia to imagine more with digital assets. It is not everyday that the crypto industry sees such a strong diverse group of backers ranging from world-renowned VCs to traditional financial institutions coming together like this. It brings us closer towards a future with opportunity, access and financial freedom for all,” said Zipmex CEO Marcus Lim.

With the fresh injection of capital, Zipmex plans to further develop its technological infrastructure, engage in new business partnerships, attract new talent and diversify its offerings.

Founded by Facebook co-founder Eduardo Saverin and Raj Ganguly, B Capital invests in companies transforming large traditional industries across borders and geographies. Leveraging a global team of seasoned experts and a strategic partnership with The Boston Consulting Group (BCG), B Capital helps founders navigate business challenges, raise capital, and attract talented leadership at every stage of the startup lifecycle.

TNB Aura, a leading regional thesis-led and high-conviction venture capital firm, uses data-driven methodologies to identify and invest in select companies that are primed to be category winners. Their portfolio includes Zenyum, Super, Co-Learn and Propzy, among others.

“With an exceptional team, clear vision and roadmap, Zipmex offers a seamless and accessible platform for consumers across Asia-Pacific to be a part of the digital asset-revolution. We are honoured to be co-leading this round to accelerate financial access and inclusion, and look forward to working closely with the company in transforming the way we spend, save and earn.” commented Charles Wong, Co-Founder & Managing Partner at TNB Aura.

Representatives of B Capital and TNB Aura will join the board of Zipmex.

V Ventures is a Singapore-based VC with Thoresen Thai Agencies (SET: TTA) as it’s anchor LP. The firm invests in both early-stage and late-stage companies across regions and diversifies across a wide variety of cutting-edge technology companies from global e-lending solution design to utilizing deep technology in the non-internet sectors. Its portfolio companies include BLender Finance, Cloudbreakr, Creative Ventures, Owlstone Medical and many more.

“Zipmex has evolved quickly from a digital assets platform in Thailand to a regional player in digital financial services, and has done so while ensuring compliance with local regulators,” said Chalermchai Mahagitsiri, General Partner of V Ventures. “The company has a strong and cohesive management team with the requisite experience and innovative approach to digitally transform the financial services industry. We are excited to be a part of Zipmex’s journey and fully support to the company in reaching its goals.”

It has been an exciting month in Southeast Asia after Zipmex announced the Zipmex Card, a new Visa-backed payment card that will launch in Australia and Singapore later this year. The Zipmex-Visa provides Zipex users the freedom to spend their digital assets at the more than 70 million merchants from Visa’s global payments network.

The company has gone on to spotlight important partners- turned-investors and, now, support from world-class venture capitalist firms. As Asia Pacific’s most trusted digital asset platform, Zipmex has big plans ahead, not only reaching out to the millions across Southeast Asia and Australia, but also building an ecosystem that is beyond finance.

Read more about our Perspectives on Zipmex and the financial revolution: Perspectives

Watch Zipmex’s full press conference: YouTube

Selection of press coverage: The Business Times, Tech in Asia, Bangkok Post, Techsauce