Financial research distribution platform Smartkarma raises $4.7m

Photo credit: Smartkarma’s site

Via Bloomberg:

Smartkarma, a service that provides institutional investment research on demand, has raised $4.7 million from investors including Wavemaker Partners LLC and Jungle Ventures to expand its business.

The second round of financing brings total capital raised to $7.5 million, the company said in a statement Wednesday. Other participants in the round included a group led by Koh Boon Hwee, former chairman of Singapore Telecommunications Ltd.

Smartkarma bills itself as the Spotify for Asian research. It provides analysis and context about Asian markets to help institutional investors make their decisions. The information comes from experts, including investors themselves, business analysts, academics, and even data scientists who post their views on the platform in exchange for a payout.

The Singapore-based startup counts 80 insight contributors such as Centennial Group director Manu Bhaskaran and former CLSA executive Daniel Tabbush. It serves 140 clients, among them “hedge funds, sovereign wealth funds, and asset managers,” according to the Bloomberg report.