Singapore-based Fynd announced yesterday it has secured $385,000 in pre-Series A round led by Far East Ventures, the venture capital arm of Far East Organization. Singaporean businessman and investor Koh Boon Hwee, who has invested in numerous startups also participated in the round.
The startup will use this funding to grow further into Southeast Asia. It currently offers its services in Singapore and Hong Kong and plans to launch in Jakarta by the end of this year. Fynd claims to have been profitable by the time it graduated JFDI’s accelerator program in December 2015, which it says played a key part in getting these investors on board.
The challenge for our next phase is to scale as fast as we can while making sure we stay true to the promise of reliability and trust that lies at the heart of what we do. Far East Ventures and Mr Koh Boon Hwee both have extensive industry experience and networks across the region that will be invaluable to us as we grow.
says founder and CEO Albert Tirtohadi in an official statement.
He further told Fynd’s first phase was concerned about the value proposition and processes right for both customers and their iSpecialists, the experienced technicians who deliver their service on the front line. On an operational level, that is now working really well.
According to Tirtohadi, the largest challenge for their next phase is developing rapidly and ensuring the continued provision of robust customer service.