Surfin secures USD 12.5 million from Insignia Ventures Partners
Surfin, a financial technology platform serving the underbanked middle class, has secured USD 12.5 million in a Series A funding round led by Insignia Ventures Partners.
Headquartered in Singapore, Surfin offers services like consumer lending, payments, remittance, credit card issuance, and wealth management, leveraging artificial intelligence and analytics to provide financial solutions. The company operates in markets including Indonesia, Vietnam, Mexico, the Philippines, and India, among others.
This is Surfin’s first external funding round, with the company having been bootstrapped since inception. The funds will be used to expand its financial services ecosystem and strengthen its presence in current markets.
Antler raises AUD 77 million for second Australian fund
Global venture capital firm Antler has raised AUD 77 million (USD 51.8 million) for its second Australian fund, exceeding its initial goal of AUD 60 million (USD 40.4 million), according to the Australian Financial Review.
The fund received backing from wealthy Australians, including the family office of Flight Centre co-founder Geoff Harris, as well as institutions like Queensland Investment Corporation, Macquarie Private Wealth, and wealth manager Morrows.
Antler is known for its intensive residency program that encourages founders to leave their day jobs and focus on building startups. The success of this fundraising signals strong investor confidence in the local startup ecosystem.
Recent deals completed in China:
- Molly Tea, a rising star in China’s new-style tea scene, has secured close to RMB 100 million (USD 14 million) in funding. Alibaba Group’s local services unit led the round, with Xiangyang Capital serving as the sole financial advisor. The fresh capital will fuel product development, brand investment, and supply chain improvements. Molly Tea also aims to empower its franchise partners and scale its lightweight business model. —36Kr
- Deep Principle, an artificial intelligence-powered materials research startup, has closed an angel extension round, with GL Ventures as the sole backer. The company plans to use the funds to enhance its technology stack, expand its team, and fast-track collaborations with global chemical companies, pushing generative AI into practical applications for material sciences. —36Kr
- Argo Space, a space technology firm, has raised tens of millions of RMB in a pre-Series A funding round led by Oriza Private Equity. Suzhou High-tech Venture Capital Group, and Boyan Venture Capital also participated. The capital will accelerate the company’s development of new payload technologies, production capabilities, and general operations. Argo Space specializes in satellite integration, with a focus on optical and radar payloads. —36Kr
- Feiruite, a Chengdu-based manufacturer of optoelectronic crystal materials and components, has secured an eight-figure RMB sum in its pre-Series A funding round. Addor Capital led the investment, with continued support from Northern Light Venture Capital, which first backed the company in 2023. SND and Daoyi Capital also participated. —36Kr
Estie, Meridian Innovation, Ouch, and more led recent headlines:
- Estie (stylized as “estie”), a Tokyo-based prop tech startup, bagged JPY 2.8 billion (USD 19 million) in a Series B funding round anchored by heavy hitters Vertex Growth and the Development Bank of Japan (DBJ), with repeat support from Globis Capital Partners, University of Tokyo Edge Capital Partners (UTEC), and Global Brain.
- Meridian Innovation, a Singapore-headquartered thermal imaging startup, just raised USD 12.5 million in a new funding round, pushing its total investment to over USD 30 million. The backers include early investor Seeds Capital, while Moveon, TCVC, and the Hong Kong Science and Technology Parks Corporation (HKSTP) invested in Meridian for the first time.
- Ouch (stylized as “Ouch!”), an insurtech startup operating out of Malaysia, locked down MYR 5 million (USD 1.2 million) in strategic funding from PPB Ventures. The funds will be used to boost market share, enhance its tech infrastructure, and push product innovation to make insurance more accessible for everyday Malaysians.
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