DOON has announced raising $1.5 million in its pre-seed funding round, while Supafaya has secured fresh investment.
P2P car-sharing startup DOON secures $1.5m funding
DOON, the first peer-to-peer car-sharing platform in the Philippines, has announced raising $1.5 million in debt and equity in its pre-seed funding round.
The startup said it raised $500,000 in equity funding from a syndicate of angels and several domestic and foreign family offices. It also secured a debt facility of up to $1 million from Esquire Financing, a subsidiary of Fuel Dreams Holdings, which also took a stake in the equity portion of the raise.
The equity portion of the raise will be used to develop DOON’s web marketplace and enhance its current mobile online car-sharing platform, among others.
“With the funding, we will be able to focus on creating the best user experience for our customers by deeply enhancing our digital platforms, strengthening our brand presence, doubling down our operations in prominent city and tourist destinations, and expanding our product offering,” said DOON CEO and co-founder Enrique Hormillo.
DOON is a portfolio company of AHG Lab, an independent venture studio in the Philippines.
Content creator marketplace Supafaya scores funding
Supafaya, a marketplace for content creators in Southeast Asia, has secured an undisclosed amount of funding from venture investor Satori Giants, according to an announcement.
The Philippine startup, registered in Singapore, said the investment brings its pre-seed round to over six figures. It will be used to support the company’s next stage of growth.
Supafaya, helmed by Franz Taborlupa and Owen Cuales, is also backed by Founders Launchpad, an accelerator in the Philippines. The startup collaborates with top creators in Southeast Asia to launch marketplaces for brands.
Overall, the startup aims to build and scale five marketplaces by the end of the year as it plans further regional expansion in 2025.
