Digital Media Nusantara has announced that it has secured venture financing from Malaysia Debt Ventures Berhad (MDV), a wholly owned subsidiary of the Ministry of Finance (Incorporated) [MOF (Inc)]. The funding will be used to accelerate Digital Media Nusantara’s mission to become Southeast Asia’s first fintech media firm – operating at the first mile of the financial markets infrastructure and market intelligence value chain.

The Pre-series A ‘technology bridger’ will enable the firm to commence future proofing and digital transformation across its ecosystem of brands, including The ASEAN Post, Reimagining Southeast Asia, and Spotlights Labs. Discovery Technologies, it’s much awaited ASEAN-focused financial markets infrastructure technology will also commence development.

Discovery Technologies is an advanced machine learning and AI enabled capital markets analytics platform. This will establish Digital Media Nusantara as Southeast East Asia’s first fintech media firm, whilst unlocking new and sustainable revenue streams for the business.

Founder and Managing Director of Digital Media Nusantara, Rohan Ramakrishnan, commented: “Digital Media Nusantara’s mission is to bridge the data and information gap surrounding Southeast Asia’s capital markets. It is widely known and acknowledged across the region’s financial services industry and investor community that the lack of accurate, reliable, and structured data is impairing informed decision making and affecting the region’s competitiveness.”

“Our objective from inception has been to solve this anomaly by aggregating data and streamlining it into actionable insights that can drive the region and its businesses forward. Digital Media Nusantara is focused on a solution, and we have an extremely experienced team on board to guide our progress and rise to the challenges that lie ahead. With MDV’s support we are now able to move on to the next stage of our development roadmap in time to play a critical role in the ASEAN Economic Community in 2025,” he added.

Development shops in Singapore, India and Europe have been engaged to co-develop the design thinking and technologies given the complexity of the projects by the first quarter of 2022. Concurrently, Digital Media Nusantara will run additional bridging rounds and its larger Series A round to further fuel the development of its growing stable of brands.

Singapore-headquartered corporate finance advisory boutique, Yefira Group, acted as transaction advisors whilst Malaysia-based corporate and M&A law boutique firm, Peter Ling & Van Geyzel, acted as transaction lawyers.

“Digital Media Nusantara’s team has both a brilliant idea and strong track record, and also a real commitment to create an ecosystem that not only solves a problem, but helps to drive forward the ASEAN region in terms of global competitiveness,” said Nizam Mohamed Nadzri, CEO of Malaysia Debt Ventures Berhad, commenting on the raise.

“We are proud to back a Malaysian-owned company that has a first-mover advantage in the race to amalgamate ASEAN’s financial markets and information systems landscape and play a pivotal role in accelerating this process. We are delighted to have been able to set things into motion for them and look forward to seeing more growth and success for Digital Media Nusantara.”

Source: Digital Media Nusantara via PR Newswire