October 2021 Edition (#06)
Dear <<First Name>>,
We begin our fourth quarter in high spirits! Today, we are humbled to share that our portfolio, Recko has entered into an agreement to be acquired by Stripe, a global technology company that is valued at US$95 billion. Founded in 2017 and based out of India, Recko will be Stripe’s first acquisition in the country when the acquisition officially closes. 

Recko has built a platform that lets businesses track and automate payments reconciliation, covering both outgoing and incoming payments and the full ecosystem of inbound and outbound payment sources and receivers. Similar to Stripe, Recko leans heavily on APIs to integrate and work with different data sources. Vertex Ventures SEAI first invested in Recko’s Series A where we led the investment round.  Read more
Fundraise for Series A from a Position of Strength 
Despite the pandemic, companies are raising copious amounts of funds despite their inability to travel nor meet investors face to face. Carmen Yuen shares her observation and tips on the fundamental considerations startups should have regardless of the funding environment. Read more 
The Future of Banking - Reimagined
A 3-part series where Genping Liu reimagines what the future of banking would be. The second part speaks about the dawn of open banking and the proliferation of a new generation of embedded finance companies. Finally, the third part concludes the future of banking with "Immersive banking".
Vertex remains prudent in its investment approach
In the face of rising valuations in Southeast Asia, Kee Lock shares why he remains highly optimistic about the future growth of this region, his read on the rising valuation market, the exit opportunities in Southeast Asia and what lies ahead for the region. Read more
Welcoming Onato to the Vertex Family!
Onato raised US$2.2M in Seed financing led by Vertex Ventures SEAI. Onato connects various stakeholders directly and uses data from the demand and supply side to bring transparency in volume and pricing, and help customers access new business opportunities.  Read more 
Licious turns unicorn after Series G round of $52M funding. 
Fresh meat and seafood brand Licious raised $52 million in its Series G round, led by IIFL’s Late Stage Tech Fund and Avendus. The round values the company post-money at $1.05 billion, making it India's first Direct-to-Consumer (D2C) unicorn. Read more
Rollercoaster years of Indonesian e-grocer HappyFresh
HappyFresh has experienced 10x growth across Indonesia, Malaysia and Thailand this year as consumer behaviour shifted towards online groceries. However, in its early days, HappyFresh did not start off as rosy as today - CEO Guillem Segarra recounts his learnings in 2015 where fundamentals of the business were stretched thin.  Read more
Vertex Ventures Southeast Asia & India invests in high-growth start-ups seeking their first round of institutional venture capital funding across Asia (excluding China), with a focus on Singapore, India, Indonesia, Thailand, and other emerging hubs of innovation in this region. Vertex Ventures Southeast Asia & India collaborates with a network of venture funds across US, China and Israel, under the auspices of Vertex Holdings, providing local knowledge with global perspective.



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