Xavier Kong · · 1 min readRazer CEO backs SG social networking firm’s $362k pre-seed
Singapore social media startup NextBlock raised S$500,000 (US$361,895) in its pre-seed funding round, led by Plug and Play APAC.
Other investors include Farquhar Venture Capital and Razer CEO Min-Liang Tan.
Photo credit: NextBlock
NextBlock – co-founded by Darrell Zhang, Willynn Ng, Mike Nguyen, and Bryan Lee – aims for its platform to improve neighbor-to-neighbor communications by acting as a hub for users in a neighborhood to come together.
The platform currently features a “My Estate” tab, which allows users to connect with neighbors in the same estate cluster, and an “Explore” tab for people to look into trending topics. It also allows users to form interest groups as well.
According to the company, the platform has brought in 15,000 users since its launch in June this year. Moving forward, NextBlock intends to add a marketplace function for its users to buy and sell items as well as a merchant module to help homegrown businesses.
The company said the funds are already in use kickstarting NextBlock’s operations in Singapore and have been deployed for its user acquisition and foundation-building efforts. The investors will also serve as mentors as the firm looks to scale its business to bigger markets.
Currency converted from Singapore dollar to US dollar: US$1 = SG$1.38
See also: Exclusive: East Ventures leads $600k seed round of Singapore D2C firm
Editing by Miguel Cordon and Jaclyn Tiu
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