Vynn Capital leads USD 350k seed round in e-procurement platform Dropee

Thursday 17 January 2019 09:59 CET | News

Malaysia-based VC company Vynn Capital has led a USD 350,000 seed financing round in B2B e-procurement marketplace Dropee.

Founded in June 2016, Dropee platform connects suppliers with small-to-medium enterprise (SME) business owners in real time to streamline the product fulfillment process and facilitate bulk purchases.

Key industries of focus include travel, property, food and FMCG, female economics as well as business enablers (including logistics and fintech). In May 2018, Vynn Capital led Series A financing of USD 4 million in Indonesian travel platform Travelio. PT Prasetia Dwidharma started to invest in technology startups since 2013 mostly in South East Asia with 60+ portfolio companies up to date.

The startup is currently operating in Malaysia, with a focus on the metropolitan areas of Kuala Lumpur, Penang and Johor. For 2019, the company aims to increase its business coverage across Malaysia with plans to expand operations in neighbouring countries, including Indonesia, Thailand and Vietnam in the near-term future.

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Keywords: Vynn Capital, Dropee, funding round, Series A, Malaysia, Asia, APAC, e-procurement, B2B payments
Countries: World

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