Asia Brief: PAG Asia Acquires Craveable Brands, igloohome Raises $15M

Singapore-based smart access startup igloohome raises $15 million and launches iglooworks while PAG Asia acquires Australian restaurant operator Craveable Brands for an undisclosed amount.

Singapore Startup igloohome Raises $15M, Launches iglooworks

Singapore-based smart access startup igloohome has raised $15 million in fresh funding co-led by Insignia Ventures Partners, Wavemaker Partners, and SEEDS Capital, according to a statement.

New investors include Kickstart Ventures, TH Capital, Pine Venture Partners, On Asset Management, InnoVen Capital and a group of angel investors. Existing investors Singtel Innov8 and Great Noble International also participated in the round.

With a new round of funding, igloohome officially launched its new line iglooworks, which is a suite of smart access solutions for enterprise customers, primarily in the real estate and infrastructure sectors.

iglooworks’ solutions are managed via a dashboard, designed to manage and monitor large numbers of access points for different levels of users, with features to sort, filter and export data. Read Full Story

PAG Asia Acquires Australian Restaurant Operator Craveable Brands

PAG Asia Capital, the private equity buyout arm of leading investment firm PAG, has acquired 100% of Craveable Brands from Archer Capital and minority shareholders, the company said in a statement.

Craveable is the largest Australian-owned operator of quick service restaurants with over 580 stores across Australia under the Oporto, Red Rooster and Chicken Treat brands.

It also has a growing international network, with stores in New Zealand, Singapore and Sri Lanka and soon to open in Vietnam and a number of countries in the Middle East. Read Full Story

Payments firm PayU takes majority stake in Singapore’s Red Dot Payment

PayU, the payments and fintech business of Naspers, announced the acquisition of a majority stake in Red Dot Payment, a Southeast Asia focused online payment solutions provider.

With this transaction, PayU expands into the Southeast Asia region and brings the total amount deployed in fintech investments and M&A to north of $700 million over the last three years.

Under the terms of the agreement, PayU has acquired a majority stake in RDP in a transaction valuing the company at US$65 million. The founder will continue to retain a stake in the company, while the majority of other shareholders will exit. – BusinessNewsAsia.com

[For the latest Financial and Business news in the Philippines, read FinancialNews.ph]

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