Aetius commits $5m Series A to Singapore's Cloud Alliance

Cloud Alliance will use the capital to support the development of CloudMoolah, an integrated payment solution for US-based game developer Unity. The companies expect over five million developers on Unity's platform to use Cloud Moolah, according to a statement.

Unity estimates that its game engine software is used by more than half of the world's game developers to power their products. The software is also used to create virtual reality and augmented reality experiences; the company claims a 90% market share of this sector.

CloudMoolah is intended to help developers publish and monetize their products more quickly. The platform will be rolled out first in Southeast Asia, where the mobile games market is worth around $3 billion and expected to reach a compounded annual growth rate of 69%.

Cloud Alliance was founded in March by CEO Benjamin Cher, who is also a co-founder of Aetius. Aetius seeks opportunities in early-stage rounds for start-ups in various industries. Its portfolio companies include digital remittance platform Toast, for which the firm led an $850,000 seed round last October, and hyperlocal small business discovery app Sugar, which Aetius backed in its 2014 seed round.

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• Topics
• Southeast Asia
• Technology
• Financials
• Early-stage
• Venture
• Singapore