Miguel Cordon · · 1 min readMalaysian B2B procurement marketplace raises $500k from SeedPlus, others
Tenderin, developer of business-to-business procurement platform Lapasar, has secured US$500,000 in a seed funding round led by Singapore-based venture capital firm SeedPlus.
Photo credit: Vincent Liew
Angel investors from Nexea, a Kuala Lumpur-based VC investment firm, also participated in the round.
The Malaysian startup connects corporations to suppliers in the country through its platform. It plans to use the fresh funding to support its business development efforts and to further automate processes for ordering and request for quotation.
“As companies become more proactive in optimizing and managing their supply chains, we expect the sector to grow strongly in the next five to 10 years across Malaysia and the wider Southeast Asia region,” said SeedPlus partner Tiang Lim Foo.
Lapasar previously participated in Project Alpha, SeedPlus’ pre-seed startup catalyst program, which was conducted in partnership with Amazon Web Services.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
