Singapore-based Fintech startup CrossFund has raised additional $1.5 million in funding at a $47 million valuation.

The firm said in a statement on Monday that it has raised its fourth funding round in two years from family offices in the Middle East and North Africa (MENA) and Asia, BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and strategic angels.

“Having spent nearly 10 years in Asia, we quickly built a strong base of investors and startups here,” said its Founder Ben Cardarelli.

“These markets we’re in – like Indonesia, India, Vietnam, and Philippines – have large populations, a young, tech-savvy workforce, low labor costs, and an emerging middle class,

“Our vision has always been to invest early in founders and give people access to valuable startup equity in the economies of the future,” he added.

Founded in 2021 by Cardarelli and Davide Cali, Cross Fund has quickly become the equity financing tool of choice for startups in the Southeast Asia (SEA) and EMEA with over $40 million raised across 80 investments, 15,000 accredited investors, and its first exit to a NASDAQ-listed company.

It has also become recognized as a platform for governments to foster innovation and attract FDI through hi-tech startups.

Ho Chi Minh has become CrossFund’s strategic base, with the team gaining exclusive access to the most promising startups in Vietnam and SEA.

The chance to own equity in international startups with as little as $5,000, no carry, limited fees, and mentor founders is a value proposition that has resonated with investors.

CrossFund’s portfolio has grown over 400 percent in two years and includes an exit, with Edugo’s acquisition.

Its portfolio includes high-performers like Clever (Asia Pacific), Vulcan (Vietnam), Lipa Later (Kenya), Styched (India), beU (Ethiopia), and Swag Kicks (Pakistan), some of which are raising Series B and backed by leading investors like SOSV, Goodwater, VECTR, i2i, YOLO, YCombinator, and Techstars.

CrossFund’s success is largely attributed to its use of artificial intelligence (AI) in the vetting, fundraising process, and its Web3 integrations.

The firm is able to leverage data to rapidly match investors with startups based on sector, stage, geography, areas of expertise, and other granular factors.

“Venture capital is very conservative and traditionally low tech. My background spans over 25 years in IT and I started working with AI in 2002,

Our vision was always to leverage technology to disrupt the industry. The convergence of fundraising with hi-tech is what allows us to scale quickly across different emerging markets,” said Cali.

With United States giants like AngelList, OurCrowd, Republic, and StartEngine having grown into unicorns, backed by venture capitals like Tiger, SoftBank, and Valor, CrossFund sees similar growth potential in large, emerging markets.

It said that United States incumbents crave international expansion and are gazing East, seen in Republic’s acquisition of Seedrs and StartEngine’s acquisition of SeedInvest.

“We believe in the rise of Asia and MENA as beacons of innovation. Singapore, Hong Kong, United Arab Emirates, and Kingdom of Saudi Arabia (KSA) are powerful investment hubs for us,

“We are leading this vast transition of wealth towards the emerging world and are only at the beginning with what we can accomplish,” said Cardarelli.

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