SG blockchain-backed fintech firm secures $2.2m in pre-series A

Singapore-based Doxa, a fintech startup that connects buyers, suppliers, and financiers in the industrial space, has raised US$2.2 million in a pre-series A round. Without going into specifics, the company said that publicly listed companies and logistics corporations joined the round.

Doxa co-founders Leon Yeo (left) and Edmund Ng / Photo credit: Doxa

Doxa runs blockchain-backed Doxa Connex, a platform that lets construction players and real estate developers process procurement, payment, and financing digitally. By automating payments, the service tracks the entire procurement process from quotation invitation to payments and delivery. It also connects stakeholders for real-time cloud collaboration on transactions.

Edmund Ng and Leon Yeo founded the company in 2019. Since then, it has onboarded users such as Engie, GSK Advance, and Air Liquide. Doxa also said that it has doubled the size of its team since the past year.

Its latest raise will fund its sales and marketing efforts, product improvements, and expansion into Southeast Asia.

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