About Fave
Fave is a company based in Kuala Lumpur (Malaysia) founded in 2015 by Danny Yeung was acquired by Pine Labs in April 2021. It operates as a Two-Sided Marketplace, and Commission-Based. Fave has raised $32 million across 4 funding rounds from investors including Pine Labs, Sequoia Capital and Venturra Capital. Fave has completed 4 acquisitions, including ClassHopper, CutQ and FoodTime. Fave offers products and services including FavePay, Fave Deals, and Fave eCards. Fave operates in a competitive market with competitors including ShopBack, MilkADeal, Beebag, Doropu and Getex Malaysia, among others.
- Headquarter Kuala Lumpur, Malaysia
- Founders Danny Yeung
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Fave Asia Technologies Sdn Bhd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$32 M (USD)
in 4 rounds
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Latest Funding Round
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Investors
Pine Labs
& 3 more
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Employee Count
Employee Count
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Investments & Acquisitions
ClassHopper
& 3 more
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Acquired by
Pine Labs
(Apr 13, 2021)
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Products & Services of Fave
Fave offers a comprehensive portfolio of products and services, including FavePay, Fave Deals, and Fave eCards. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A payment system for seamless transactions and rewards.
Discounts on food, spa, and fitness services offered.
Digital gift cards for various services and partners.
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Funding Insights of Fave
Fave has successfully raised a total of $32M across 4 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Last Round
- First Round First Round
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2020 | Amount | Series B - Fave | Valuation | Pine Labs |
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| Sep, 2018 | Amount | Series B - Fave | Valuation | Sequoia Capital , Venturra Capital | |
| Jun, 2016 | Amount | Series A - Fave | Valuation | Sequoia Capital , Venturra Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Fave
Fave has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include Pine Labs, Sequoia Capital and Venturra Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Sequoia Capital is engaged in venture capital investments.
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Founded Year | Domain | Location | |
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Early-stage tech-focused venture capital firm investing primarily in Southeast Asia
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Founded Year | Domain | Location | |
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Venture capital firm focused on seed and late stage investments
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Fave
Fave has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include ClassHopper, CutQ and FoodTime. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Food is ordered online from partnered restaurants via a platform.
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2016 | ||||
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Access hundreds of classes and studios from Aerobics to Zumba in a single membership!
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2014 | ||||
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Takeaways are pre-ordered via a mobile app from partnered eateries.
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2013 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Fave
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Fave Comparisons
Competitors of Fave
Fave operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as ShopBack, MilkADeal, Beebag, Doropu and Getex Malaysia, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online platform offering rewards and cashback for multi-category products
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| domain | founded_year | HQ Location |
Cashback is provided for purchases from partnered stores and websites.
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| domain | founded_year | HQ Location |
App-based platform offering rewards and cashback
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| domain | founded_year | HQ Location |
App-based platform offering discounts and rewards to users.
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| domain | founded_year | HQ Location |
Getex Malaysia functions as an online deals aggregator and discovery platform for consumers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Fave
Frequently Asked Questions about Fave
When was Fave founded?
Fave was founded in 2015.
Where is Fave located?
Fave is headquartered in Kuala Lumpur, Malaysia.
Is Fave a funded company?
Fave is a funded company, having raised a total of $32M across 4 funding rounds to date. The company's 1st funding round was a Series A of $12M, raised on Jun 01, 2015.
What does Fave do?
Fave is recognized as a lifestyle companion app focused on providing deals, cashback, and rewards. It operates primarily in Malaysia and Singapore, covering sectors like food, spa, and fitness. Solutions such as FavePay for payments, Fave Deals for discounts, and Fave eCards for gifting are offered to enhance user experience and partner engagement.
What products or services does Fave offer?
Fave offers FavePay, Fave Deals, and Fave eCards.
How many acquisitions has Fave made?
Fave has made 4 acquisitions, including ClassHopper, CutQ, and FoodTime.
Who are Fave's investors?
Fave has 4 investors. Key investors include Pine Labs, Sequoia Capital, Venturra Capital, and SIG Venture Capital.
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