Genting Ventures Invests in hoolah’s Series A Round Shortly After its Entry into MalaysiaMarch 5, 2020
hoolah, a Singapore based company, has finalized a commitment for an eight-figure Series A investment round, led by Allectus – a VC, part of the $30bn PE firm ICM, who are focused on disruptive technology companies.
Joining the round are Singapore based iGlobe Ventures, who participated in hoolah’s seed round, and a variety of newcomers, including Genting Ventures, Max Bittner, the former group CEO of Lazada and Tim Neville, the CEO of FNZ – a global FinTech firm responsible for over 330 Billion pounds of assets under administration.
“We were delighted to invest in hoolah. The team has delivered some excellent outcomes within a short period of time. The business model and its target audience is potentially great for our own business and we look forward to forming a strong partnership and contributing to hoolah’s future growth”
Josie Lai, Genting Ventures
The raise allows hoolah to double down on their recently announced launch in Malaysia and fuel further expansion. In addition, as over 90% of retail still occurs in a physical store, the core investment focus is to enable the team to build an omnichannel solution – enabling customers to shop online and in-store.
“This marks a continuation of our plan and vision that we had when we started.We will continue to focus on enabling our omnichannel solution into new markets, and expanding into new verticals where consumers will enjoy using hoolah to responsibly afford the things they want or need.”
Stuart Thornton, hoolah CEO