Facebook co-founder and venture capitalist Eduardo Saverin's venture-capital firm B Capital Group and EDBI (the dedicated corporate investment arm of the Singapore Economic Development Board) co-led this Series-B round; other new investors in the startup include Philips and RGA, a unit of Reinsurance Group of America Incorporated. He said: "CXA is an exciting addition to our portfolio.Its unique business model cuts across three out of four of our focus industries, including health and wellness, financial services and consumer services." CXA's platform lets employers bring their insurance and wellness vendors into a one-stop marketplace, where employees choose the most relevant mix of such services that suit their needs.Key talent from all four companies will join the Paktor group.Paktor chief Joseph Phua said the acquired companies are "natural complements" to Paktor's dating platform and offer good lessons for Paktor, based on their growth journeys and where they were founded. working together to shape the evolving global dating industry." Paktor, founded in 2013, has raised more than US million from investors such as Temasek's Vertex Ventures.
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i Fashion Group, a Singapore-based roll-up play that targets fashion and lifestyle startups that are three to five years old and looking to grow, announced this week its acquisition of lifestyle-marketplace brand Megafash for S.15 million in a cash-and-shares deal.
Founded in 2014, Megafash sells lifestyle products ranging from apparel to stationery through its e-commerce platform and in brick-and-mortar stores.
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