Fundnel Forms Partnership with Business Angel Network Southeast Asia

Fundnel, a collaborative crowdfunding investment platform based in Singapore, has formed a partnership with the Business Angel Network Southeast Asia (BANSEA), to pool resources and boost deal flow.  BANSEA ONE, backed by BANSEA and Fundnel, will become a key investor in early stage companies in the Singapore startup ecosystem.

Under the partnership, BANSEA ONE will make seed-stage investments of  S$50,000 in curated startups on the Fundnel platform. All start-ups funded through BANSEA ONE will be given free access to Fundnel’s network and services. All relevant legal services will be provided as well by start-up specialist firm Silver Cord Advisory.

Kelvin LeeKelvin Lee, co-founder of Fundnel called the partnership a privileged opportunity to work with BANSEA.  He said it was also an endorsement of the Fundnel platform;

“By combining BANSEA’s stringent due diligence processes alongside our curation, we are confident of assisting start-ups in achieving their growth trajectory and potential,” stated Lee. “Angel investment plays an integral role in the development of a sustainable startup ecosystem as it not only provides funding at the critical stage, but also offers mentorship and advisory to guide startups to reach their growth phase. As a result, this is a great opportunity to tap into BANSEA’s extensive network and collaborate with industry veterans to lead the funding of deals on our established platform.”

Julien de SalaberryThe formation of BANSEA ONE was described by Julien de Salaberry, Vice Chairman of BANSEA, as an opportunity for members to invest in early stage companies while diversifying the risk.

“The ability to leverage Fundnel’s deal flow gives us prime access to invest in a wider selection and variety of startups within the region. We believe that our new member investment vehicle enabled by this partnership will provide us with the opportunity to act as a greater catalyst within the ecosystem. We look forward to this fruitful collaboration with Fundnel to discover and fund successful deals,” said de Salaberry.

BANSEA was established in 2001 by Singapore-based Angel investors. BANSEA has network connections throughout Asia, Europe and the US. BANSEA ONE is said to be the next step in the evolution of the Southeast Asia angel investing ecosystem.

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