Touchstone Partners announced today that it has led investments in two startups: Credify, which is pioneering embedded finance technologies, and Prep, an edtech company bringing interactive and personalized test preparation to tens of thousands of online learners.
The announcement of the new investments was made during the venture capital firm’s inaugural “Touchstone Day” conference, which took place 18-19 August at the Hoiana Hotel in central Vietnam.
The event, which showcased the firm’s portfolio of 21 companies, combined panel discussions, workshops, and pitching sessions, which were organized around four key themes: life tech, community economy, supply chain transformation, and breakthrough vision. Touchstone Day was attended by 150 investors, startup founders, and business partners from around Southeast Asia.
Credify is creating a privacy-preserving embedded finance platform that connects financial service companies such as banks and insurers with consumers at the right time and in the right way.
The company’s ServiceX solution brings multiple financial options to end consumers at a platform- purchasing level. Consumers who meet pre-established criteria and use a service such as a participating ecommerce site will see tailored offers that meet their immediate and future needs, such as buy now pay later, or home insurance offerings on a site focused on home design and decorating.
Touchstone is leading a consortium of investors in this Pre-Series A fundraising round and has committed $1 million. Credify intends to use the proceeds to accelerate and scale up product development and distribution.
On the other hand, Prep is an edtech startup developing an interactive learning platform where for learners can follow a personalized study plan to reach their target scores in standardized tests.
The company’s solutions are built on three pillars: video lessons produced in-house by educators with decades of experience in test preparation, virtual test rooms and AI-enabled exercises created by combining the best AI solutions of partner companies with Prep’s own algorithms of analyzing speeches and texts, and personal interactions with highly experienced human teachers.
Touchstone invested $1 million during the seed fundraising round.