Payables software startup Spenmo’s valuation has hit $500 million following an $85 million Series B funding round.
The round, a mix of primary and secondary transactions, was led by Tiger Global. The investment firm has now built a nearly 11% stake in the fintech startup with the capital infusion, according to DealStreetAsia – DATA VANTAGE.
Spenmo’s Series B round was joined by Insight Partners, Global Founders Capital, Rocket Internet, and Alpha JWC Ventures. The company has reduced its employee stock option pool (ESOP) in conjunction with the financing, according to regulatory filings.
Spenmo’s shareholders
Malaysia’s Fefifo recorded secondary transactions as its co-founders pared their stakes in the co-farming startup.
According to the startup’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), Kelveen Soh and Chris Fong sold shares to Quest Ventures, XSKash, ScaleUp…