Parent company of Myanmar-based freelance platform Chate Sat, Technolic, has recently announced the successful completion of a six-digit pre-Series A funding round. The round was led by angel investors Willy Ballmann and Keizo Fujitake, both based out of Singapore.
The company will use the newly-raised capital to grow its internal business resources and expand its team.
Launched in 2016 by Phandeeyar Accelerator Cohort 1 alumni Honey and Shwe Yee Mya Win, Chate Sat curates freelancers of various expertise, including web and mobile developers, designers, digital marketers, content writers, animators, photographers, promoters, and more.
It currently has over 14,000 freelancers on its platform and has expanded to beyond its borders to countries such as Thailand, Malaysia, Singapore, and even Western countries. Chate Sat’s market focus now, however, is on Mekong countries including Cambodia, Laos, and Vietnam, as well as its home base.
“I believe investing in Chate Sat presents a great opportunity to boost Myanmar’s tech startup ecosystem. Chate Sat’s current market leading position firmly establishes the company to be the future centre and hub for Myanmar’s gig economy,” said Ballman, in an official statement.
Read more here.
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