# Fave Group Pte

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fave-group-pte

- Industry: Financial Services
- Headquarters: Kuala Lumpur, Malaysia
- Website: www.myfave.com
- Total disclosed funding: $43M
- Latest round: Series B (Aug 30, 2018)
- Investors on record: 9

## About

Fave Group Pte Ltd, based in Malaysia, operates a lifestyle app that integrates deals, payment processing, and cashback rewards, enhancing consumer experiences for everyday activities in Malaysia and Singapore.Fave Group Pte Ltd is a technology company focused on creating a lifestyle platform that supports deals and payment solutions. Founded in 2012 in Kuala Lumpur, Malaysia, the company has undergone significant developments in its business strategy. Notably, it was acquired in April 2021 for USD 45 million by Pine Labs Private Limited, alongside other investors such as Flipkart Internet Private Limited and PayPal, Inc., from previous investors including Sequoia Capital. The founders of Fave are Chen Yeoh and Samantha Abusada, with Samantha also serving as the CEO.Fave is a lifestyle app offering a multifunctional platform for deals, payment processing, cashback rewards, and various lifestyle services primarily in Malaysia and Singapore. Key features include FavePay, which enables seamless payment transactions, and Fave Deals, which provide discounts on food, spa, and fitness services. The app caters to individual consumers seeking savings and to merchants promoting their services, focusing on enhancing consumer engagement through cost-effective solutions in urban markets such as Kuala Lumpur and Singapore.In the most recent fiscal year, Fave reported revenues of USD 10.41 mn, with an EBITDA of USD -5.81 mn. The company's revenue structure primarily derives from transaction partnerships with local businesses, leveraging a commission-based model that includes payments processed through FavePay and subscription offerings for exclusive business deals.Fave aims to expand its market presence and enhance its product offerings in the coming years. The company is designing new features for its app, expected to launch in late 2022, which will include enhanced user experience and additional discounts. Fave plans to enter new geographic markets in Southeast Asia, targeting Indonesia and Thailand by the end of 2023. Recent funding from the USD 45 mn acquisition will support these initiatives, focusing on enhancing technology infrastructure and marketing efforts to attract more users and business partners.

## Funding rounds

- Series B, Aug 30, 2018, $23M — Hong Shan, SIG Asia Investment, Venturra Capital
- Series A, Sep 29, 2017, $15M — Hong Shan, SIG Asia Investment, 500 Global, Groupon Inc., Intres Capital Partners
- Seed, Jun 13, 2012, $4.3M — Hong Shan, 500 Global, Asia Venture Group, SXE Ventures, Segnel Ventures

## Investors

- Hong Shan — Seed, Series A, Series B
- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed, Series A
- Asia Venture Group — Seed
- SXE Ventures (https://capitalatlas.ai/funds/sxe-ventures) — Seed
- Segnel Ventures (https://capitalatlas.ai/funds/segnel-ventures) — Seed
- SIG Asia Investment (https://capitalatlas.ai/funds/sig-asia-investment) — Series A, Series B
- Groupon Inc. — Series A
- Intres Capital Partners (https://capitalatlas.ai/funds/intres-capital-partners) — Series A
- Venturra Capital (https://capitalatlas.ai/funds/venturra-capital) — Series B