FreeD Group, a software business located in Hong Kong, secured US $15 million in series B investment to support the establishment of its Singapore headquarters.
Musketeer Capital and the SOSV Select Firm joined the round, which was led by the fund Daiwa ACA APAC Growth, which has offices in Singapore and Japan.
FreeD was established in 2015 and now employs over 140 people across ten offices. There are 200 firms that make up its partner network, including Marriott International, Tencent, Google, Samsung, and Samsung.
In addition to building its commercial teams in new areas, FreeD will utilize the cash to grow its technical teams in Hong Kong, South Korea, and Canada.
Its plans to establish a headquarters in Singapore are expected to service the expanding business demand in Southeast Asia and the Asia-Pacific regions later this year.
The business also plans to launch its own digital solutions outside of Asia in the US, Europe, and the Middle East.
FreeD’s co-founder and CEO, Abel Zhao, stated that this new investment represents a significant turning point for the business and will fuel FreeD’s upcoming stage of technical and global expansion.
