Singapore's TradeGecko gets $10m Series B

TNB and Aura are investing jointly via a vehicle known as TNB Aura Fund, which is targeting a S$50 million ($37 million) raise and makes commitments of up to S$3 million in data-driven B2B start-ups in Southeast Asia. Aura is also participating through its technology-focused Aura Venture Fund, which reached a first close of A$10 million ($7.4 million) last year and is targeting A$30 million.  

Singapore’s 33 Capital and Australia’s Perle Ventures are among the additional participants in the round. Previous backers include Jungle Ventures and NSI Ventures, which provided $6.5 million in 2015, as well as Golden Gate Ventures and WaveMaker Labs, which contributed to a seed round in 2012. Total capital raised to date is said to exceed $20 million.

TradeGecko offers cloud-based software to SMEs with a view to helping them manage various accounting and back-office operations, including inventory, invoice and order management. The service allows clients to track product shipments in multiple locations and currencies while supporting networking with customers and suppliers.

Vicknesh Pillay, a managing partner of TNB Ventures and TNB Aura Fund, described TradeGecko as a best-in-class B2B inventory and order management SaaS provider in terms of feature density, user experience and quality of integrations. The company, which also maintains a base in Canada, will use the new capital to expand its product suite and advance operations globally.

"The investment into TradeGecko is a great deal for our fund,” Calvin Ng, a managing director of Aura Group, said in a statement. "We are confident in the long-term prospects of the company and the team's ability to continue executing strong and consistent growth of their revenues and unit economics."

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• Topics
• Southeast Asia
• Support services
• Technology
• Early-stage
• Singapore
• professional services
• TMT