In brief: P2P lender Capital Match merges with Sesami, gets fresh funding

Sesami, the largest e-procurement platform in Singapore, and Capital Match, the leading invoice financing platform present in Singapore and Hong Kong, have announced they are joining forces through an equity merger. The merger will see a combined entity with pro forma revenues of more than US$15 million and profitable on an EBITDA basis.

Together, the companies will bring a fully integrated supply chain financing solution to corporates and their suppliers to provide B2B financing in a more timely, automated and cost-efficient manner.

After an initial rollout in Singapore, the combined entity plans to expand the integrated product to other countries in Southeast Asia and Hong Kong through greenfield development, partnerships, and/or acquisitions.

Source: Capital Match

The deal saw fresh investment in the combined entity, coming from existing shareholders including Dymon Asia Ventures and new backers such as OSK Ventures International. The amount, however, wasn’t disclosed.

Capital Match raised an undisclosed amount of funding in a series B round led by Facebook co-founder Eduardo Saverin’s B Capital in January.

Founded by a consortium of large corporations in 1999, Sesami provides enterprises with e-procurement and related services such as demand aggregation. It claims to process online purchase orders worth US$4.4 billion and online invoices totaling US$1.5 billion annually.

Currency converted from Singapore dollars. Rate: US$1 = S$1.37