Existing investor KK Fund, a Singapore-based venture capital firm that invests in startups across Southeast Asia participated in the current round as well. Malaysia-based investors include several angel investors with expertise in finance, technology, and growing startups. The startup, founded in early 2016, had raised a USD 500,000 seed round in September 2017.
CapBay aims to use the funds to further strengthen its technological and funding capabilities. This will enable more efficient financing and market expansion in order to reach a wide range of investors and underserved small and medium-sized enterprises (SMEs).
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