Smartkarma, a service that provides institutional investment research on demand, has raised $4.7 million from investors including Wavemaker Partners LLC and Jungle Ventures to expand its business. The second round of financing brings total capital raised to $7.5 million, the company said in a statement Wednesday. Other participants in the round included a group led by Koh Boon Hwee, former chairman of Singapore Telecommunications Ltd. Founded in 2014 by Singapore-based financiers Raghav Kapoor, Jon Foster and Lee Mitchell, Smartkarma is part of a wave of startups targeting Asia’s financial industry. It wants to improve the way institutional investors create, distribute and consume investment insights by allowing them to post their views on its platform -- and get paid. A handful of companies globally are trying to come up with online research products.

http://www.bloomberg.com/news/articles/2016-06-01/smartkarma-the-spotify-of-asian-research-raises-4-7-million