Singapore fintech platform Fundnel has opened operations in Australia, with operations to be based in Adelaide
The company said in a statement it would be working with the University of Adelaide’s ThincLab incubator, HealthSA, TechinSA and InvestSA.
It said there were plans to expand its presence to Sydney, Melbourne and Perth.
The company is looking to connect accredited Australian investors with local opportunities. It also aims to aid local businesses in increasing growth through capital raising.
{loadposition sam08}Dr Steven Fang, co-founder and former CEO of CapBridge, will head the operation in Adelaide. He has more than 28 years of experience in the private and public investment sectors.
Supporting him will be a local team of business development specialists and core members of the Fundnel team.
“I’m excited to be on board with Fundnel, and to have the opportunity to work with the company’s well-calibrated and focused team,” Dr Fang said.
“Fundnel has already experienced success in Singapore, India and Indonesia, and Australia will be no exception. It is already regarded as one of the leading innovation hubs in the region. I look forward to spearheading Fundnel’s efforts there to help professional and institutional investors diversify their portfolios with a new asset class, while empowering local companies grow and succeed.”
Kelvin Lee, co-founder and chief executive of Fundnel, said: “Australian investors tend to favour domestic opportunities, and there is a high level of enthusiasm in supporting local – a similar sentiment that resides at the core of Fundnel’s beliefs.
“With a great track record in private investments and fundraising, Steven is perfect to lead our efforts in Australia. Even at this early stage, we have already commenced groundwork on three pilot deals, and we expect many more successes in a strong pipeline that the team has worked hard to build.”