The Singapore-based platform edenX will be created by Australian fintech Eden Exchange, which has acquired SC Venture’s incubated Dealcierge. The acquisition will cost A$50 million ($31.07 million).
A statement released on Monday said that EdenX has evolved into a full-service marketplace for small to mid-sized capital raising and mergers and acquisitions (M&A) aimed at the Asia Pacific area.
In order to build a more expansive digital and cooperative ecosystem that will propel market expansion throughout Asia, Australia, New Zealand, and eventually the world, the edenX platform combines the complementary networks, technology, intellectual property, and teams of Eden Exchange and Dealcierge.
In order to improve deal flow and cross-border access to private capital, EdenX is committed to assisting the underserved sub-$100 million SME M&A and capital markets by increasing access for business buyers and sellers.
By giving its clients and partners more equitable access to opportunities, EdenX hopes to level the playing field in a fragmented industry where SMEs are thought to make up over 97% of all businesses in Asia.
By generating more leads and lowering barriers for participants in the transaction ecosystem, technology-driven dealmaking increases deal velocity.
With over 120,000 verified business buyers, sellers, and advisers in the current ecosystem, the edenX platform will provide these companies, investors, and their advisors with special services through: – expanded deal success by utilizing state-of-the-art AI technologies for customized, smooth, and potent deal making services
Standard Chartered’s innovation, fintech investment, and ventures arm, SC Ventures, is the incubator for Dealcierge, an independent M&A platform. SC Ventures will continue to own stock in the joint venture. Under Pegasus Dealmaking Pte Ltd, Dealcierge offers vast Asian networks and a Capital Markets Services Licence issued by the Monetary Authority of Singapore (MAS) for the sale of capital markets products.
With over 5000 transactions under its belt, Eden Exchange offers its well-established networks in Australia and New Zealand. Fast, safe, customized small business and franchise sales are made possible by its DealXchange platform, which seamlessly links buyers, sellers, and business advisors.
“The edenX platform is the next step in our mission to arm the long-underserved small to mid-sized M&A market with the tools and information sellers need to connect and engage with serious buyers and investors. I look forward to seeing increased capital
flow to support quality businesses wherever they are found,” said Dhanush Ganglani, CEO, Pegasus Dealmaking Pte Ltd, and Co-Founder, Eden Exchange.
“Dealcierge is a technology-powered deal making platform, specifically focusing on SMEs who do not have access to the deal advisory resources of large banks and consultancies. We look forward to being a supportive shareholder as the two companies combine their strengths to rewire dealmaking and support the critical SME ecosystem,” said Alex Manson, CEO, SC Ventures.
”This edenX platform enhances our respective capabilities to provide the accessible, tailored private deal network our region needs. Our timely marketplace will help facilitate the transfer of A$6.5 trillion of assets and wealth from Baby Boomers to a new generation,” said Raghu Rajakumar, CEO and Co-Founder, Eden Exchange.
