Bintang Capital lead investor in US$10mil funding in Malaysian martech startup, Involve Asia
By Digital News Asia February 22, 2023
- The investment supports Involve Asia’s expansion in Southeast Asia
- Co-investors include Orbit Capital Malaysia, 500 Global & Monumental Productions
[Ed: An earlier version incorrectly stated in the headline that Bintang Capital invested US$10mil into Involve Asia. It is actually the lead investor in the round. It did not invest US$10mil.]
Bintang Capital Partners announced its third investment under its maiden fund, BCP Asia Fund I L.P, into Involve Asia Technologies to support its expansion across Southeast Asia and Australasia, as well as the development of a new product suite.
The US$10 million (RM44.4 million) investment round was led by Bintang and supported by co-investors Orbit Capital Malaysia, 500 Global, and Monumental Productions. Fundraising proceeds will be utilised to fuel Involve Asia’s recent expansion into Vietnam and the Philippines, as well as to continue cementing its footprint across Southeast Asia and Australasia.
"Bintang believes that this can create new jobs and provide economic uplift opportunities for individuals in the process. These aspirations are very much aligned to Bintang's philosophy of 'Investing in Impact and Innovation'," said Bintang founder, Johan Rozali-Wathooth (pic, left).
According to Bintang, the investment in Involve Asia was driven by the shift in Southeast Asian consumer behaviour towards digital consumption, with more than 80% of Southeast Asian consumers expected to have transacted online by the end of 2022. Bintang believes that the increasing internet and mobile penetration in Southeast Asia would also provide significant long-term opportunities for value creation on a regional scale.
"After closing 2022 with a record revenue of US$ 20.27 million (RM90 million), we're confident this momentum will make 2023 a really significant year for Involve," said Involve Asia chief executive officer, Jimmy How (pic).
Involve Asia also plans to put part of the proceeds to use in catalysing its in-house development of a new product suite. This includes creating an in-house business intelligence team and developing a novel content management system.
A Malaysian-Based Marketing Technology Company
Involve Asia is a Malaysian-based marketing technology company that operates a performance-based marketing technology platform, providing a single platform to help brands market digitally through advertising attribution, partner workflow management, and creative distribution.
It partners with content creators, influencers, developers, and affiliate partners worldwide while tracking and managing returns on these digital marketing partnerships for global brands.
Involve Asia operates in 6 countries, catering to over 500 brands and over 4,000 offers with more than 400,000 affiliate partners on its platform, driving over US$1.5 billion in transactions since its inception in 2014.
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