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Bod Tech Ventures Invest Equity in Daung Capital of Myanmar


Singapore-based venture capital firms Majuven and Bod Tech Ventures recently invested unspecified amounts of equity in Myanmar-based financial technology (fintech) lender Daung Capital as part of its Series A funding round, valuing the company at SGD 16.5 million (USD 12 million). Founded in 2018, Daung Capital lends to employees of pre-approved firms and buyers of motorbikes from pre-approved motorbike dealers. The motorbike loans include insurance and carry terms of one to two years. In addition to motorbikes, Daung lends for purposes such as education, buying appliances and covering emergency expenses. All Daung borrowers must supply a guarantor. Motorbike buyers must also be approved by the motorbike dealer. The firm has about 3,500 borrowers, most of whom have borrowed for motorbikes, which cost MMK 400,000 (USD 263) or more.

Daung charges interest rates that vary based upon the particulars of each loan. One analysis indicates that these rates can be less than half the rates charged by other microlenders in the country, which often are 2.5 percent per month.

Bod Tech Ventures, which was founded in 2016, invests in technology firms in Asia. Financial data on the firm not available, but its investees are listed at https://www.bodtechv.com/portfolio.

Founded in 2011, Majuven specializes in early- and growth-stage investing in biomedicine; technology; and the “sustainable” fields of energy, food and clean water. A list of the firm’s investments can be found at https://www.crunchbase.com/organization/majuven#section-locked-charts.

Source: Micro Capital

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