Singapore-based FinTech CrossFund has secured an additional $1.5m in its latest funding round, bringing its valuation to an impressive $47m.
The funding came from a consortium of family offices in the Middle East and North Africa (MENA) and Asia, along with notable investors like BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and strategic angels.
It has rapidly gained recognition as the go-to equity financing tool for startups in Southeast Asia (SEA) and Europe, Middle East, and Africa (EMEA) regions. With over $40 million raised across 80 investments and a growing portfolio.
CrossFund is more than just a FinTech startup; it serves as a catalyst for innovation and economic growth. It provides investors with a unique opportunity to access valuable startup equity in promising economies, such as Indonesia, India, Vietnam, and the Philippines.
These regions boast large populations, a young and tech-savvy workforce, and the potential for significant economic development.
The newly acquired $1.5m investment will be instrumental in CrossFund’s mission to expand its reach and impact further.
The company is dedicated to early-stage investment in founders and aims to democratize access to startup equity in emerging economies. With its strategic base in Ho Chi Minh, Vietnam, CrossFund gains exclusive access to some of the most promising startups in Southeast Asia.
One of CrossFund’s key differentiators is its use of AI in the vetting and fundraising process, along with its Web3 integrations. This technology allows CrossFund to match investors with startups rapidly, considering factors such as sector, stage, geography, and expertise.
Ben Cardarelli, co-founder of CrossFund, said, “Having spent nearly 10 years in Asia, we quickly built a strong base of investors and startups here. These markets were in – like Indonesia, India, Vietnam, and Philippines – have large populations, a young, tech-savvy workforce, low labor costs, and an emerging middle class. Our vision has always been to invest early in founders and give people access to valuable startup equity in the economies of the future.”
Davide Cali, co-founder of CrossFund, said, “Venture capital is very conservative and traditionally low tech. My background spans over 25 years in IT and I started working with AI in 2002. Our vision was always to leverage technology to disrupt the industry. The convergence of fundraising with hi-tech is what allows us to scale quickly across different emerging markets.”
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