Malaysia-headquartered iPrice Group has reportedly secured an undisclosed investment led By Line Ventures.
Other participation to the round came from Cento Ventures and Venturra, according to a report by FinSMEs.
The company is an online price comparison platform which provides online shoppers with information on costs, delivery time, payment options and discount offers. iPrice is used across Southeast Asia in Malaysia, Indonesia, Vietnam, Singapore, Hong Kong, Philippines and Thailand.
Shoppers can search for a selection of product types including electronics, fashion and beauty, sports, home and living and automotive. The company has over 500 partners, which include Zalora, Yoox, Pop Look, Style Tribute and Hermo, among others.
Equity from the round will be used to support the expansion of its operations and reach, it said.
This is the third FinTech company to close funding in Malaysia this year, with StoreHub bagging a $5.1m Series A last month. The company provides SMEs with an iPad POS solution which helps to accept payments, as well as access inventory management, CRM and business analytics.
Earlier in the year, a fellow POS solution developer closed a round of funding in the country after Soft Pace raised its Series B from Sumitomo Mitsui Card Company. The company provides businesses with the ability to accept transactions through their devices, which include mobile apps, card readers, and a web-based management console.
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