THE WHAT? Hong Kong-based SleekFlow has closed a US$8 million Series A funding round led by Tiger Global, according to a report published by TechinAsia. AEF Greater Bay Area Fund and Transcend Capital were also named as participants in the round.
THE DETAILS Sleekflow’s valuation has soared over the last year, jumping 1200 percent, while its revenue has climbed 500 percent since its last funding round. The social-to-payment provider serves more than 5,000 companies, per TechinAsia, including Nars Cosmetics.
THE WHY? The investment will be used to expand the social commerce platform’s presence throughout Southeast Asia as well as fund future product development.