Australian fintech agency Image Wealth Holdings Ltd (PictureWealth) has closed its AUD$12 million ($8.25 million) late-seed funding spherical whereas Petronas Ventures is investing in agri startup Braintree Applied sciences. In the meantime, SEEDS Capital and 6 co-investment companions will make investments $36 million (S$50 million) in maritime know-how startups in Singapore.
Australian fintech agency PictureWealth raises $8.25m seed spherical
Australian fintech agency Image Wealth Holdings Ltd (PictureWealth) has closed its AUD$12 million ($8.25 million) late-seed funding spherical, comprising of personal fairness and debt, in response to an announcement.
The agency has additionally acquired monetary companies licensee, NEO Monetary Options (NFS), for an undisclosed sum. After the acquisition, NFS has develop into a wholly-owned subsidiary of PictureWealth and NFS MD Mark Edman can even tackle the Group COO position.
NFS holds an Australian Monetary Providers Licence (AFSL) issued and ruled by way of ASIC. NFS licenses and helps monetary planners in offering monetary advisory companies to purchasers.
NFS offers licensing companies to greater than 80 monetary recommendation professionals throughout Australia the place affiliate monetary planners can present monetary companies and/or merchandise as an ‘authorised representative’ beneath the NFS AFSL.
Petronas Ventures backs agritech startup Braintree Applied sciences
Petroliam Nasional Bhd’s company enterprise arm Petronas Ventures is investing in Braintree Applied sciences, an agriculture know-how startup primarily based in Malaysia. The transaction is predicted to finish by early July, in response to a report by The Star.
In keeping with Braintree’s web site, the Malaysian firm faucets on drone and satellite tv for pc know-how to supply distant mapping and analytical companies for the plantation sector. Braintree’s operations at the moment cowl Malaysia and Indonesia, with plans to increase into different nations.
Petronas Ventures instructed The Star that its funding in Braintree displays the corporate’s intentions to enterprise into breakthrough applied sciences past oil and gasoline, which is its core enterprise.
Petronas Ventures is a $350 million fund launched in October 2019, with an goal to make direct investments in areas equivalent to trade 4.0, superior supplies and specialty chemical compounds and vitality.
SEEDS Capital, others to speculate $36m in SG maritime startups
SEEDS Capital, the funding arm of Enterprise Singapore (ESG), and 6 co-investment companions will make investments $36 million (S$50 million) in maritime know-how startups in Singapore.
The six co-investment companions are Innoport, KSL Maritime Ventures, PSA unboXed, Rainmaking, ShipsFocus-Quest Ventures and TecPier. Over 50 maritime startups are anticipated to learn from these joint investments, in response to an announcement launched by SEEDS Capital.
Ted Tan, Chairman of SEEDS Capital and Deputy Chief Government Officer of Enterprise Singapore stated, “As a global hub for trade and connectivity, we have continually leveraged technology and innovation to develop and facilitate efficient, resilient and secured trade flows.”