SUBSCRIBERS

TradeGecko sale validates exit potential of similar Asean startups

Growth of the software-as-a-service firm mirrors that of Singapore's startup ecosystem

Sharanya Pillai

Published Wed, Aug 5, 2020 · 09:50 PM

Singapore

THE sale of Singapore startup TradeGecko to Intuit Inc validates the exit potential of South-east Asia's Software-as-a-Service (SaaS) startups, showing that there is substance to the hype, venture investors tell The Business Times.

On Tuesday, Bloomberg reported that California-based software giant Intuit has agreed to acquire TradeGecko for over US$80 million, in one of the largest exits in the region since the Covid-19 outbreak. The deal is expected to be completed in September.