Daily Briefing: Siglap Shopping Centre stalls for sale at $8.8m; Software provider Desker to launch business accounting app

And insurtech start-up Axinan eyes Thailand and Vietnam expansion.

From iCompareLoan:

Two adjoining ground floor stalls at Siglap Shopping Centre is offered for sale via expression of interest for $8.8m, CBRE announced.

The price works out at approximately $2,878 per sqft based on the combined strata area of 3,057 sqft. As there will be no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty, both foreigners and companies are eligible to purchase the property.

The property is currently tenanted to a childcare centre.

Siglap Shopping Centre is a three-storey mixed-use development that has approximately 60-metre road frontage along East Coast Road.

The EOI for the freehold ground-floor units at Siglap Shopping Centre closes on 3PM at 30 October, Wednesday.

Read more here.

From DealStreetAsia:

A decade into its journey, and after raising over $138.2m (US$100m) in an extended Series A round, Singapore-based cloud-based software provider Desker, is gearing up for a significant pivot.

“We are launching the business super app to do all business accounting on your phone – from P&L, GST, balance sheet, inventory, payroll, attendance to claims – and it will be first app that will be free,” its chief executive Shashank Dixit told DealStreetAsia.

“Until yesterday, we were a local version of what Oracle or SAP was doing in the US, and offering that at a cheaper cost – but a business super app means the company completely changes the way we’ve operated so far. Our business model changes now,” he added.

In May, Deskera raised over $138.2m (US$100m) from an entity linked to South Korea’s Naver. This was an extension of the $82.9m (US$60m) round it raised in November 2018 from investors including Jungle Ventures, Cisco Investments, Tembusu Partners, Susquehanna International Group and Innoven Capital.

Read more here.

From e27:

Singapore-based insurtech startup Axinan plans to expand into Thailand and Vietnam in the midst of raising Series A-plus funding, its Founder and CEO Wei Zhu told e27.

Axinan secured an undisclosed sum in Series A round from Openspace Ventures and Linear Venture in February 2018.

“Funds acquired through these round would be utilised in market penetration and expansion, product, tech and data capabilities enhancement and personnel addition across all departments,” said Zhu.

Incorporated in 2016 by Zhu (former CTO of Grab), Axinan focuses on creating “innovative digital insurance for the Internet economy”. It leverages big data, real-time risk assessment, and digitised claims management to create B2B2C insurance solutions for online companies and insurance companies.

Read more here.