Singapore SaaS startup Perx raises $5m for expansion plans

The startup has had the support of Facebook co-founder Eduardo Saverin since 2015.

Perx, Singapore-based SaaS startup, raised US$ 5 million in a Series B funding round for its plans to expand across Southeast Asia and further into the Asia Pacific Region. The newly-injected funds will be used for its operations, including acquisition and partnerships with global software and technology companies.

LINE Ventures; Access Ventures; NCORE VENTURES; Facebook co-founder and venture capitalist, Eduardo Saverin; and Capital Management Group were among the investors.

As a customer engagement and loyalty platform, Perx uses artificial intelligence to generate insights for businesses. The company also helps businesses design bespoke data-driven campaigns to increase customer loyalty.

Perx was originally developed as a B2C customer loyalty app but struggled to grow as the SaaS sector became saturated. It made a pivot in 2014 to become an enterprise cloud B2B2C platform. Today, Perx works with large B2C companies, with some of its current clients being HSBC, Prudential, UOB, Digi, Abenson Group, and Central Group.

The Singapore-based startup raised a Series A round in 2015 led by Golden Gate Ventures. Eduardo Saverin also invested for the first time at that stage.

Perx joined Oracle Financial Services’ Banking fintech ecosystem after successfully integrating with Oracle Open Banking APIs. This collaboration allows Perx to step up its customer acquisition efforts.

Editor: Nadine Freischlad