, Singapore

Daily Briefing: Syfe partners with SGX to launch REIT portfolio; ShopBack acquired South Korea's largest cashback platform Ebates Korea

And Vickers Venture Partners leads a $48.15m funding round for a California-based startup.

From e27:

MAS-licensed digital wealth management firm Syfe collaborated with Singapore Exchange (SGX) to launch a portfolio that allows everyone to invest in and track the SGX’s iEdge S-REIT 20 Index, according to an announcement.

The newly launched product consists of the largest and most tradeable Singapore REITs; the S-REIT 20 spans sectors that include retail, industrial, office, and logistics.

New and current clients of Syfe REIT+ can choose either a pure REIT portfolio for maximum real estate exposure or a risk-managed portfolio that balances REITs with government bonds to defend against rising volatility.

The REIT allocation for both portfolios will replicate the iEdge S-REIT 20 Index. Portfolio adjustments can be made using the Syfe mobile application on the iOS and Android platforms.

Read more here

From DealStreetAsia:

Singapore-based rewards and discovery platform ShopBack has expanded into South Korea with the acquisition of the country’s largest online cashback platform Ebates Korea, according to a company statement.

Financial details of the acquisition were not disclosed. ShopBack said Ebate Korea will cease operations following the acquisition and its users will be directed to ShopBack Korea’s beta platform. The former said the deal will strengthen its roster of merchants offering cashback in the country.

ShopBack acquired Ebate Korea from Rakuten, which invested in the Singapore-based cashback platform’s $45m series B funding round last year.

Read more here.

From e27:

Lumitron Technologies bagged $48.15m in a funding round led by VC firm Vickers Venture Partners, according to an announcement.

Joining the round were Perennial Value Management, Clinton Capital (Australia) and Roth Capital (US), along with several global family offices.

With the new funding, Lumitron aims to build its first commercial X-ray systems in Q4 2020. Lumitron said that it is already receiving strong interest from university research facilities and government institutions across the world.

Vickers is known for its investment in leading tech and non-tech companies, which include Baidu, the Asian Food Channel and TWG Tea.

Read more here

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