Daily Markup

Daily Markup #512: Bibit bags over US$80M for roboadvisory; Grab helps users supercharge idle cash; KROSSLINKER wins advanced materials competition

May 30, 2022 · 2 min read
Credit: DealStreetAsia

Investing for a better future

  • 500-backed digital investment app Bibit raised more than US$80M in a round led by Singapore state investor GIC.
  • Bibit was launched by investment platform Stockbit in 2019; a roboadvisor that helps first-time investors get into mutual funds and build portfolios suited to their risk profiles and investment goals.
  • The fresh funds will be used for the launch of new products and services, technology development, hiring talent, and strengthening the company’s financial programs to create investment awareness in Indonesia.
  • Co-founder & CEO Sigit Kouwagam said, “We are here to enable Indonesians to participate in the capital market and help people achieve their financial goals through the right investment.”
  • Congratulations to the Bibit team!
  • Read the full story on DealStreetAsia. A subscription may be required.

Credit: Grab

More is up for Grab

  • In more fintech-related news, 500-backed Grab Financial Group launched GrabFin, a new brand for its digital payments, insurance, lending, and wealth management offerings. The company also announced a new investment product, Earn+.
  • Grab users, how does this benefit you? According to the superapp, GrabFin offers a “single entry point” to payment, investment, and insurance services. Simple to activate, easily accessible, and flexible, users get to choose how they use the products with no lock-in period.
  • GrabFin is currently available in Singapore and Malaysia and will roll out in the rest of Southeast Asia in the coming months.
  • Earn+, billed as a low-risk investment product, was rolled out to all Singapore-based users.
  • “Earn+ provides our users with access to low-risk, investment-grade bond portfolios, which were previously only available to institutional investors,” said Head of GrabFin Singapore Wenbin Wong.
  • Get the full story on Channel News Asia.

Credit: INAM

A winning solution

  • The Innovation Network for Advanced Materials (INAM) announced 500-backed KROSSLINKER as winner of the Advanced Materials Competition (AdMaCom) 2022 Accelerator Program!
  • KROSSLINKER is an energy efficiency focused advanced material startup based in Singapore offering aerogels, an insulation material for cold chain delivery, built environment, and automotive applications.
  • Germany-based INAM is a global network of companies and research institutes in the field of Advanced Materials.
  • Their goal? To enable the right connections and make technological innovations become reality by working closely with startups, SMEs, corporations, investors and research institutes to start, grow and transform the development of Advanced Materials.
  • Read the full announcement here.
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