SINGAPORE – 12 December 2017 – Fintech investment platform Fundnel has partnered with investment advisory and wealth management group Thirdrock to help mid-stage, high-growth companies (typically Series B onwards) obtain funding in a more timely and cost-efficient manner. The partnership will meld Fundnel’s deal assessment technology with Thirdrock’s forward-looking investment mandate. It will help to connect Asia’s brightest companies with the most relevant investors, accelerating their path to long-term goals, such as being acquired or going public.
The collaboration marks the birth of a cross-referral program that brings the deal pipeline of both entities together into a data-driven funnel that quantitatively assesses applicant companies to determine the viability of each funding opportunity. Thirdrock will also lead investments into select companies that emerge with quality scores post-assessment. The aim of this partnership is to provide these companies with the best resources to help them succeed in the shortest possible timeframe.
Traditional assessment processes are lengthy and cumbersome; Fundnel’s proprietary technology, Fundnel Factor, utilises big data and automation to benchmark applicant companies against peers in similar industries and stages of growth, and score them on a relative scale. This process takes a matter of days, saving significant time for investors and applicant companies. While radically speeding up the vetting process, there is no compromise on a vigorous quality focus – eventually only 1% of all companies that apply are funded.
“As trusted stewards of our clients’ assets, we are constantly exploring ways, including leveraging technology, to enhance our investment recommendations to better serve the complex investment needs of our clients,” said Melvyn Yeo, Executive Partner, Thirdrock Group. “Fundnel’s proprietary smart assessment technology has put many more potential companies on the deal table than was possible before,” “The Fundnel Factor assesses technologies at lightning speed, and gives us access to a constant flow of quality companies to potentially invest in. We look forward to many future successes with Fundnel.”
“As a young fintech company, we’re proud to partner a top-performing industry incumbent such as Thirdrock to ride the new wave of financial technology together,” said Kelvin Lee, Co-Founder and CEO, Fundnel. “The proof is in our technology pudding, and we’re proud of our track record in assessing companies. We’ve been a springboard for many who have gone on to achieve even more success — listing publicly, or raising subsequent rounds. With our partnership, we hope to bring greater value to companies who are looking for quality investment partners and fuel to reach their next stage of growth.”
Fundnel counts Singapore’s largest private funds Vickers Ventures Partners and Temasek-backed Dymon Asia Ventures, as well as leading regional bank DBS among its more than 7,000 current investors, businesses and partners. It has analysed more than 1,500 businesses, resulting in more than US$100million worth of deals in two years.
Fundnel has already expanded to Australia this year, and is eyeing Malaysia for its next international footprint. Upcoming deals on the platform include funding rounds for a San Francisco-based dating app, and an international gaming engine behind best-selling titles on PS4 and Xbox One.
Fundnel is a licensed private investment platform that offers unlisted securities in growth and pre-IPO stage companies across industries to a qualified network of investors, comprising of both professional – corporate venture, private equity, venture capital funds, family offices, angel investor networks – and individually accredited investors actively looking to diversify their current portfolio.
Fundnel screens all investment opportunities to ensure businesses meet the minimum requirements defined by the Fundnel Factor – a proprietary data-driven due-diligence process analysing over 130 quantitative data points per company – before reaching our investor network. Its network of investors performs further due-diligence before making an “Anchor Investment” in a particular deal they see value in. Only deals with a lead anchor investor will be listed on our platform, whereupon other investors are invited to join the investment round.
Fundnel is headquartered in Singapore and has a growing team of over thirty people spread across regional deal offices in Indonesia, Malaysia and Australia. Total deal origination value on its network exceeds US$100mm+ with 22 transactions completed to date.
About Thirdrock Group
Headquartered in Singapore, Thirdrock is an award-winning independent investment management firm, with a focus on servicing and advising sophisticated accredited investors and corporate clients globally. Thirdrock Capital, the principal operating company of Thirdrock Group, holds a Capital Markets Services License under the Securities and Futures Act (Cap.289) issued by the Monetary Authority of Singapore.
Founded in 2010, Thirdrock leverages its unique platform to provide truly independent, innovative and tailored investment solutions. Thirdrock’s investment management capabilities have also expanded to include a funds management platform and corporate advisory services via a strategic partnership with Thirdrock ISSEA.
Backed by a comprehensive technology platform powered for high-impact investment insight, portfolio analysis, client management, as well as compliance and risk management, Thirdrock is committed to building an institutional-grade business based on a robust operational infrastructure, sound risk management and rigorous investment processes.
For more information, visit www.ThirdrockGrp.com.
PRecious Communications for Fundnel
+65 3151 4760 / +65 9006 6696
Irene Kew, Head of Communications
+65 6922 7952 / +6591902089