Asia’s leading venture debt firm InnoVen Capital invests in Ace Turtle
Bangalore, September 22, 2017: Ace Turtle, the leading omni-channel platform company in India has raised venture debt from InnoVen Capital, Asia’s leading venture debt firm. The funds will be used to further consolidate Ace Turtle’s expansion in South East Asia as it aims to enable omni-channel solutions to several brands across the globe.
Venture debt, is a smart source of debt financing for venture capital backed companies experiencing rapid growth.
Speaking on the development, Nitin Chhabra, CEO, Ace Turtle: said
“At Ace Turtle, as we look to expand to overseas market, we are extremely pleased to have InnoVen Capital on board supporting our aim to expand internationally. The funds raised will be used towards an aggressive expansion of our customer base especially in South East Asia. We aim to gain leadership position in the omni-channel enterprise solution space in Asia in the next few years”.
Chin Chao, CEO South East Asia and India, InnoVen Capital: said
“We are actively exploring debt funding for growth stage companies, which have the ability to showcase differentiation that significantly creates enterprise value and has the potential to build a scalable model. Within few years of operation, Ace Turtle has scaled up rapidly and has developed a go-to platform for several high-profile retail brands”.
Ace Turtle’s proprietary platform, Rubicon, integrates online and offline retail channels and enables e-commerce. Its omni-channel platform comprises technology, logistics and customer support, which enables brands and retailers to improve the experience of customers.
Ace Turtle has recently closed its Series A funding from Singapore based Vertex Ventures, the venture arm of Temasek, sovereign fund of Singapore Government and C31 Ventures, the venture capital arm of CapitaLand.
About Ace Turtle:
Ace Turtle is a leading technology driven platform company that provides direct to consumer web commerce solutions for leading domestic and global Retail Brands. Ace Turtle, with its web proprietary platform, integrates online and offline retail channels automating and optimising Omni-Channel fulfilment. The platform provides brands with a single view of inventory and a single view of customer. It helps reduce the costs and complexity of Omni-Channel transformation for brands by using their existing framework and systems. Ace Turtle’s solutions are currently used by brands such as Ray-Ban, Puma, Max, Arrow, Flying Machine, Ed Hardy, US Polo, Fossil and more. Ace Turtle’s Omni-Channel platform comprising of technology, logistics and customer support enabled brands and retailers to improve the post-click commerce experience of their customers.
Backed by top investors such a Singapore based Vertex Ventures and C31 Ventures, Ace Turtle is expanding its footprint to overseas market starting with Singapore and Malaysia. For more information please click on www.aceturtle.com
About InnoVen Capital:
InnoVen Capital is Asia’s leading venture lending firm providing debt capital to high growth ventures. Started in 2008 as the first dedicated venture debt provider in India, the platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans, and syndication. The firm has since then expanded to South East Asia and China. Till date, InnoVen Capital has provided over 165 loans to more than 120 startups across various stages and geographies, including Oyo Rooms, Swiggy, Pepperfry, Shopclues, Byju’s, Freecharge, Myntra, Firstcry, Capillary and Practo in India and 123RF, RedDoorz, M17 Entertainment and Oway in South East Asia. For more information, please visit www.innovencapital.com and follow us at @InnoVenCap_IN | @InnoVenCap_SG.