520,000 (USD 385,000) FUNDING ROUND LED BY FAR EAST VENTURES
Singapore, 28 August 2016—Fynd, Singapore’s leading on-demand mobile device
repair platform, has raised SGD520,000 in pre-Series A funding in a
round led by Far East Ventures and supported by industry veteran Koh Boon
Hwee. Far East Ventures is the venture capital arm of Far East Organization,
Singapore’s largest private property developer. The funding will enable the
company to accelerate its scaling around Southeast Asia.
Founded in 2014, Fynd graduated from the JFDI
(Joyful Frog Digital Innovation) Accelerate programme in December 2015. It
offers fast, convenient and trustworthy services to repair smartphones and
tablet devices anytime, anywhere. Because the devices never leave
their sight, owners can be completely confident that personal information
held on the device will stay safe.
“Fynd’s first phase was all about getting the
value proposition and processes right for both customers and our iSpecialists,
the experienced technicians who deliver our service on the front line. On
an operational level, that is now working really well. Going forward, the
challenge for our next phase is to scale as fast as we can while making
sure we stay true to the promise of reliability and trust that lies at the
heart of what we do. Far East Ventures and Mr Koh Boon Hwee both have extensive
industry experience and networks across the region that will be invaluable
to us as we grow,” said founder and CEO Albert Tirtohadi.
Fynd has already started operations in Hong Kong
and plans to expand to Jakarta by the end of the year. The fact that Fynd has
been able to achieve so much traction and was already profitable when it
left JFDI’s accelerator programme were key factors in the investors’
decision to back the company.
“We see great potential for Fynd’s services,
especially in markets with very high smartphone penetration such as Singapore
and Hong Kong. We are excited to be a part of Fynd’s journey to explore
this familiar yet untapped space,” said Jonathan Ng, co-founder of Far
To celebrate today’s milestone, Fynd is offering a
promotional code FYND2016 that entitles every customer to a $16
discount off any repair from August to October 2016.