VVSEAI Investment | MatchMade raises $1.5 Million led by Vertex Ventures Southeast Asia & India

Matchmade | 17 Oct 2023

MatchMade raises $1.5 Million led by Vertex Ventures Southeast Asia & India to Revolutionise Ledger Management Solutions

Singapore — Vertex Ventures Southeast Asia and India (VVSEAI), an early stage fund investing across sectors in the Southeast Asia & India region has made a $1.5 million investment round in MatchMade, a cutting-edge software company specialising in ledger management solutions. This investment marks a significant milestone for MatchMade as it embarks on a mission to automate reconciliation and streamline financial operations for businesses.

MatchMade's visionary founders, with backgrounds as early employees of Gojek and extensive experience in various startups, have developed a specialised ledger management platform. This platform is designed to automate reconciliation processes, enabling businesses to effortlessly match bank statements with their records. It's a game-changer for companies seeking greater financial accuracy and efficiency.

"We are thrilled to be part of MatchMade's journey to redefine how businesses manage their finances," said Joshua Agusta, executive director, Investments at VVSEAI. “The need for accurate and efficient reconciliation is paramount in today's business landscape. MatchMade's innovative solution addresses a critical pain point for enterprises by transforming the manual and complex task and enhancing its accuracy to real time updates about its balance sheets."

The $1.5 million investment will play a pivotal role in MatchMade's growth strategy. The company plans to allocate the funds to build essential infrastructure, expand its pool of talent, and obtain necessary licenses and certifications with respect to the industry. In this aspect, certifications are particularly vital, as they enable MatchMade to engage with industries that demand the highest standards of data protection and accuracy.

MatchMade's long-term vision extends beyond local markets. The company aims to become a regional leader, offering its reconciliation solutions to businesses across the Asia-Pacific region, including Australia.

In a market where businesses are increasingly seeking ways to reduce costs and improve efficiency, MatchMade's software platform fills the gap by automating reconciliation, a process that is often manual or relies on other expensive software providers. Customers, including notable names like Gojek, are already benefiting from MatchMade's game-changing solution. MatchMade's offering has already demonstrated its impact on the target market. Companies like Ismaya, Gojek, Fithub, and Dailybox have transitioned from manual or other expensive software platforms to MatchMade's platform. The results have been remarkable, with average cost savings of five times compared to previous methods.

This investment in MatchMade highlights VVSEAI's dedication to supporting innovative companies with the potential to disrupt and transform their industries. MatchMade's innovative approach to ledger management positions it as a frontrunner in the finance technology sector.

For more information about MatchMade and its groundbreaking ledger management platform, visit MatchMade's website: https://www.MatchMade.io

About Vertex Ventures Southeast Asia and India (VVSEAI)

Vertex Ventures Southeast Asia and India partners with founders who are creating innovative, transformative and scalable businesses. It has a long and strong track record of investing in early-stage startups and building champions like Grab, PatSnap, Nium, FirstCry, XPressBees, Licious, 17LIVE, and others. VVSEAI supports its portfolio companies with unmatched operating experience and deep access to the capital, talent, partners and customers they need to build truly global businesses.

VVSEAI is one of six major funds in the Vertex Global Network which includes Vertex Ventures Israel, Vertex Ventures China, Vertex Ventures US, Vertex Ventures HC and Vertex Growth. These funds each focus on investments in their region and industry specialization. With the combined regional expertise and global reach, each team can leverage the Vertex Platform to get a broad view of innovation and share learning experiences across the world.

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Vertex Ventures Southeast Asia and India is part of the Vertex global network of funds.

In addition to Southeast Asia and India, the Vertex Global Network is comprised of affiliates in China, Israel, Japan, and the US. This provides a unique platform for our portfolio companies to realize their full potential by leveraging the combined experience and resources of our extensive network of global partners.

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