Southeast Asia's Fave raised $ 20 million, adding a mysterious Chinese strategic investor – News

So, did you think that the acquisition was dead? In Southeast Asia, Fave, which aims to connect local merchants and customers with discount sales, has finished the series of $ 20 million by exploring expansion opportunities.

Startup was started as a KFit fitness subscription service, After Groupon's acquisition in Singapore, Malaysia, Indonesia, we are developing mainly with group purchasing and coupons. KFit will continue to work, but Groupon Fave CEO Joel Neoh has entered the e-commerce market again. Neoh has already launched Malaysia based GroupMore Group which Groupon acquired in the months since launch. After that, he directed Groupon 's business in Asia before heading to KFit in 2015. KFit / Fave Fellows Co-founder Yeoh Chen Chow served as Groupon and APAC regional business manager.

Groupon said the new round is led by existing lenders Sequoia India, SIG Asia Investment, Ventura Capital, but Neo also funds from China-based "strategic" investors I told the news that I had raised it. Neo refused to offer the identity of Chinese investors, except that it says "major players".

We could not identify the identity of the company, but there is information that there is a possibility of becoming Meituan Dianping, a "super application" service preparing for Hong Kong IPO. . Meituan is actively seeking investment opportunities in Southeast Asia and already supports Go-Jek through strategic investment.

Combined, Fave and KFit raised …

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Southeast Asia's Fave raised $ 20 million, adding a mysterious Chinese strategic investor - News

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