Singapore – November 2017

 

iPaymy for Business

iPaymy for Business was founded on April 2016 in Singapore by Ethan Dobson, Founder & CEO. They address SME’s lack of access to traditional bank financing by enabling clients to use their credit cards to pay for large recurring expenses such as salaries and rent and generate up to 55 days of interest-free working capital.

Pre-A Round Mandate

In 2017, iPaymy for Business approached Vantage Capital to advise their Pre-A round of financing which aimed to secure funds to strengthen technology development capabilities and propel the company’s expansion in Singapore and new markets.

Our Approach

  1. Value Creation 
    – We anticipated potential investor’s concerns with regards to the B2C markets in SEA and collaborated closely with the management to build a value creation plan for iPaymy for Business to shift its existing model towards the B2B market while keeping existing B2C customers.
  2.    Fundraising Preparation
    – We assisted in the preparation of best-in-class documentation including the deck, the financial model, the cap table as well as the existing and looking forward KPIs.
    – We worked with the management to establish a robust fundraising strategy and investor’s list.
    – We customized our processes for “high-priority” investors who had a strong strategic/operational fit with iPaymy for Business.
  3. Negotiation and Closing
    – We built momentum around the fundraising with few interested venture capital investors.

– We supported the team to negotiate the term sheets received.

– We prepared for due diligence and facilitated the delivery of the condition precedent including the para legal documentation.

– We advised on the legal documentation such as the Share Purchase Agreement (‘SPA’) as well as the Shareholders’ Agreement until the closing of the round.

Our Results

We raised a US$1 million Pre-A Round led by Beenext & DG Incubation (Digital Garage), both of whom have proven expertise in building and investing in payments companies. As a result, the company in successfully executing its growth plan as well as developing an exciting new product that could transform the business.

Founders & CEO Testimonial

“Vantage Capital Partners has been an invaluable partner in our fundraising proccess, having deep reach in the Venture Capital and Private Equity industry, as well as structuring the value creation plan to define the full potential of our business”
Ethan Dobson – Founder & CEO, iPaymy

Vantage Capital’s View

“What iPaymy for Business has achieved in such a short period is just the beginning of a vision to support the SMEs with their cash flow. We are glad that iPaymy for Business’s equity story and team attracted investors as prestigious as Beenext & DG Incubation (Digital Garage), which will for sure bring operational and strategic support on top of the financing. I am excited about what iPaymy for Business is on the verge of achieving.”




Series Pre A Round
Investment
USD 1,000,000
Funding Status
Lead Investor
Beenext & DG Incubation (Digital Garage)
Funding Round
Series Pre A
Deal Type
Equity
Year Completed
2017
Location
Singapore



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