In brief: Singapore-based hostel startup nabs seed funding for global expansion

• Tribe Theory, a Singapore-based hostel startup, announced it has raised a total of S$1 million (US$738,300) seed funding from Superangel, Aurum Investments, and Reapra.
• It will use the fresh funding to expand its physical presence in Tallinn Estonia, Kuala Lumpur, and the Philippines. Tribe Theory aims to be in 25 countries across the globe within the next four years.
• The startup also plans to launch new business offerings like Tribe Theory Academy, which offers learning and upskilling programs such as digital marketing and web development at its Startup Village in Bali, Indonesia.

Source: e27

Currency converted from Singapore dollar. Rate: US$1 = S$1.35