This move will allow Anthill’s startups to raise additional funding on Fundnel. In return, Southeast Asia-based startups in Fundnel’s portfolio will be able to incubate inside Anthill. It will also enable both companies to tap into each other’s network of investors, industry experts and partners within Asia.
The eventual goal is to allow all startups in Anthill and Fundnel’s portfolio to raise more funds, expand their business and reach out to a wider clientele base.
“Anthill will act as our proxy to India’s market and provide a steady pipeline of deal flow to our fundraising platform, and vice versa. This reiterates our mission of bridging funds from the crowd to local and regional SMEs. Ultimately, we hope to work together to build a holistic ecosystem that will sustain and grow the startup community in Asia,” said Kelvin Lee, Co-founder of Fundnel.
To date, Fundnel has completed six deals worth approximately US$5 million for startups on its platform.
Anthill Ventures was launched in January 2015 and incubates startups within Ant Factory, a six month speed scaling programme that offers in- house mentorship, funding and training, Following the completion of Ant Factory, participating startups will seek Series A financing.