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Jungle Ventures backs $3m Fastacash financing round

8 Oct 2013

money dollar lend borrowJungle Ventures has backed a $3m Series A financing round for Singapore-based Fastacash, which allows people to send money and coupons using social networks.

Spring Seeds Capital and Hong Kong-based Funding the Future also took part in the round, with the latter already having led Fastacash’s $1.5m seed round last year.

The company aims to take advantage of the increasing use of e-payment and marketing methods through its technology, which allows individuals or companies to transfer cash or coupons alongside digital content such as photos and videos through social networks and messaging platforms.

In July Jungle helped India-based impact fundraising platform Milaap Social Ventures raise an additional $1.1m in venture capital.

Other investors included Toivo Annus and Jayesh Parekh, Singapore family office Lionrock Capital as well as existing investor Unitus Seed Fund.

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