Singapore based crowdfunding platform Fundnel partners with Business Angel Network Southeast Asia (BANSEA) to pool resources and boost the flow of investment in early-stage startups of the nation. BANSEA ONE, an investment vehicle backed by BANSEA and Fundnel will be the key investor focussing on development of Singapore’s startup ecosystem.
Kelvin Lee, co-founder of Fundnel called the partnership a privileged opportunity to work with BANSEA. He further said,
By combining BANSEA’s stringent due diligence processes alongside our curation, we are confident of assisting start-ups in achieving their growth trajectory and potential. Angel investment plays an integral role in the development of a sustainable startup ecosystem as it not only provides funding at the critical stage, but also offers mentorship and advisory to guide startups to reach their growth phase. As a result, this is a great opportunity to tap into BANSEA’s extensive network and collaborate with industry veterans to lead the funding of deals on our established platform.
Under the partnership, BANSEA ONE will invest upto S$50,000 in curated startups on the Fundnel platform. All start-ups funded through BANSEA ONE will be given free access to Fundnel’s network and services.
Vice Chairman of BANSEA, Julien de Salaberry said that the formation of BANSEA ONE will give BANSEA members the opportunity to pool their financial resources to invest in early-stage startups with minimal risk. He was quoted as saying,
In addition, the ability to leverage Fundnel’s deal flow gives us prime access to invest in a wider selection and variety of startups within the region. We believe that our new member investment vehicle enabled by this partnership will provide us with the opportunity to act as a greater catalyst within the ecosystem. We look forward to this fruitful collaboration with Fundnel to discover and fund successful deals.