Aigens achieves scaling of digital menus in Asia with a $14M round led by Ant

Aigens, a Hong Kong-based startup specializing in online ordering and marketing tools for the food and beverage industry, has secured a fresh $14 million Series A funding round. The capital infusion comes from Ant Group, the fintech behemoth affiliated with Alibaba.

This latest round of funding coincides with Ant Group’s strategic expansion into its international footprint through a network of allies. Instead of focusing on Alipay, Ant has chosen to build an open ecosystem outside China, creating what is effectively a wallet aggregator called Alipay+. As of early November 2021, Alipay+ had integrated with 15 payment methods, primarily those operating in Southeast Asia. This integration allows merchants using Alipay+ access to more than one billion users across partnered solutions.

Ant’s strategy extends beyond payment integration. The fintech giant has also forged partnerships with other players working on digitizing the retail space in emerging markets. These collaborations aim to replicate its successful transformation of China into a cashless and touchless society. However, Ant focuses on fintech infrastructure for its partners rather than targeting end consumers directly.

In August 2021, Ant invested $15 million in Singapore’s Chope, a restaurant reservation and ordering startup. Chope now leverages Ant’s merchant solution D-store to enhance its digital capabilities through ‘mini programs.’ These are lightweight apps designed within a ‘super app’ framework, first popularized by WeChat mini apps.

Chope CEO Arrif Ziaudeen highlighted the partnership as an opportunity for merchants to customize their mini-apps with unique looks and feels. They can also run individual promotions and manage user data seamlessly. "We certainly aren’t the first (or last) to achieve this," Ziaudeen said, emphasizing that Chope aims to be part of a new class of platforms designed for modern commerce.

Aigens’ ecosystem approach is central to its success, with Ant’s focus on Southeast Asia driving growth in the region. The company’s expansion into this area has been supported by its partnerships and innovative solutions tailored to local markets.

The broader fintech landscape in China and Southeast Asia continues to evolve rapidly. Ant Group’s success underscores the potential of digital transformation across these regions. As more companies adopt AI, blockchain, and other cutting-edge technologies, the competitive edge for those who can innovate quickly will only grow stronger.

In summary, Aigens’ strategic partnerships and ecosystem approach position it as a key player in the growing fintech industry. With Ant’s support, the company is well-positioned to further its impact across China and Southeast Asia.