Fundnel alumni Spark Asia has secured a partnership with JustKapture in India. Fundnel is a southeast Asia investment crowdfunding ecosystem that funds and mentors Asian startups. Spark Asia was the winner of Fundnel’s “Everyday Ideas” competition last year and was subsequently incubated on Fundnel while receiving pre-seed funding. Spark Asia will expand within the southeast Asian markets with a follow-on Seed round in 4Q 2016 via Fundnel’s investment platform. Spark Asia is a creative advertising platform that has created a unique ad-supported sponsorship model. The startup attracts users with a free photo printing service while building an extensive database so as to offer customers personalised promotional advertisements on the reverse side of each printed photograph.
Kelvin Lee, co-founder of Singapore-based Fundnel, said they were proud one of their portfolio companies was now expanding into one of the fastest-growing markets in the world;
“When we first encountered Spark Asia at our EI competition last year, we saw immense potential for them to revolutionise print advertisements and decided to take them under our wing. Leveraging on our team of former investment bankers, consultants, investment managers and entrepreneurs, we applied our knowledge to help Spark Asia develop their business strategy and operations. Once Spark Asia had a strong business model in place, we sought to connect them with our established community of investors and industry partners so as to successfully complete their pre-seed funding. Moving forward, we will continue helping Spark Asia in their fundraising efforts as they commence Seed funding. Spark Asia is poised for their next leg of growth and we remain committed to ensuring that they reach their full potential.”
Luke Wu, co-founder of Spark Asia, explained that Fundnel had opened up unique market opportunities for them. “…we would not be here today celebrating a successful regional launch and we look forward to continuing this fruitful relationship,” Said Wu.
Fundnel is based in Singapore but currently operates accross southeast Asia including Hong Kong, Indonesia and Malaysia.
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