Singapore-based e-procurement platform SESAMi has merged with invoice financing startup Capital Match, and at the same time, raised an undisclosed funding round as a newly combined entity, it said in an announcement today.
According to the joint statement, a number of existing and new investors have invested in the newly-combined entity including Dymon Asia Ventures, while Malaysia-based OSK Venture International Bhd became a new significant shareholder. No financial terms of the merger were disclosed. The merger will enable the two companies to form a fully-integrated supply chain finance platform with more than SGD 20m (US$14.5m) in annual revenues and profitable on an EBITDA basis.
