CrossFund Secures $1.5M Funding: A New Dawn for Equity Financing in Emerging Markets
Singapore-based FinTech startup CrossFund has made headlines by securing an additional $1.5 million in its latest funding round, elevating the company’s valuation to an impressive $47 million. This financial backing comes from a diverse consortium of family offices located in the Middle East and North Africa (MENA) and Asia, as well as notable investors such as BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and several strategic angel investors.
A Rapidly Growing Market Tool
CrossFund has swiftly positioned itself as an essential equity financing tool for startups in the Southeast Asia (SEA) and Europe, Middle East, and Africa (EMEA) regions. Since its inception, the company has raised over $40 million across 80 investments, demonstrating not only the confidence investors have in its innovative model but also its potential to drive massive economic growth in burgeoning markets.
Catalyst for Economic Development
What sets CrossFund apart is its commitment to nurturing innovation and economic growth. The platform provides a unique opportunity for investors to access valuable startup equity in promising economies such as Indonesia, India, Vietnam, and the Philippines. These regions present a multitude of advantages, including large populations, a tech-savvy workforce, and substantial potential for economic growth—a trifecta that makes them appealing for investors looking to diversify their portfolios.
Expanding Reach and Impact
The newly raised $1.5 million investment will play a crucial role in CrossFund’s mission to expand its operations and amplify its impact. The startup focuses on early-stage investments, aiming to democratize access to startup equity in emerging economies. With a strategic base in Ho Chi Minh, Vietnam, CrossFund has positioned itself to tap into some of the most promising startups in Southeast Asia.
Leveraging Technology for Efficient Investment
One of the standout features of CrossFund is its innovative use of AI in the vetting and fundraising processes. This tech-savvy approach enables the platform to match investors with startups efficiently by evaluating critical factors such as sector, stage, geography, and relevant expertise. The inclusion of Web3 technologies not only enhances the efficiency of capital allocation but also modernizes the entire investment process.
Insights from CrossFund’s Co-Founders
Ben Cardarelli, Co-Founder of CrossFund, shares insights into the company’s ethos: “Having spent nearly 10 years in Asia, we quickly built a strong base of investors and startups here. These markets—like Indonesia, India, Vietnam, and the 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 provide people with access to valuable startup equity in the economies of the future.”
His co-founder, Davide Cali, emphasizes the importance of harnessing technology to disrupt traditional ventures: “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.”
As CrossFund continues to develop and optimize its offerings, the FinTech community and investors keenly watch its journey, providing valuable insights into the evolving landscape of startup equity financing.
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