Closing the property data gap

• 500-backed proptech startup Urbanmetry has secured US$2 million in a pre-Series A round led by Monk’s Hill Ventures.
• The fresh funds will be used to develop its intelligent data products and platforms to serve end consumers in the property and mortgage markets. It also plans to build its product, technology, data, and business development teams.
• The startup said it is addressing the data gap in the real estate market and that it currently serves over 150 corporate clients in the region. According to a statement, its end goal is to provide access to affordable and fair mortgages for Southeast Asian homeowners.
• Its AI-driven service, Nowcast, was built to help homebuyers forecast the value of their homes.
• “Going forward, our team plans to push the technological envelope further to better fund homeowners and build sustainable cities for our shared future,” said Koh Cha-Ly, CEO of Urbanmetry.
• Read the full story on Digital News Asia.

Going global with seamless services

• 500-backed cross-border payments startup Wallex Technologies will be acquired by fintech firm M-DAQ for an undisclosed amount.
• As part of the deal, M-DAQ will invest over US$5.2 million of working capital into Wallex, which will continue operating independently. Wallex co-founder and COO Hiro Kiga has been appointed as the new CEO.
• With this acquisition, M-DAQ aims to reach more SMEs in the payments space. Wallex currently facilitates B2B cross-border payments for businesses in Indonesia, Greater China, and Singapore by offering seamless transactions into more than 180 countries.
• According to Wallex, it has achieved US$1 billion in annualized gross transaction value. The two entities combined are expected to process in the excess of about US$11 billion of gross transaction value this year.
• Read the full article on DealStreetAsia. A subscription may be required.

Tapping into emerging markets

• 500-backed global payments network EMQ announced it has significantly enhanced its real-time cross-border payments across South Asia, including direct access to Nepal and India’s Immediate Payment Service (IMPS), with additional markets in the pipeline.
• According to them, this provides a more transparent and cost-efficient payments solution for its customers worldwide, while enabling them to capture new opportunities across the emerging markets.
• A single API integration opens access to real-time and same-day transfers for EMQ customers.
• With these enhancements, EMQ hopes to help enterprises focus on growing their business without the need to manage complex network infrastructure.
• Get the full statement here.