We're in the middle of a Series B raise. We've been having conversations with potential investors across the region, from regional VCs to development finance institutions (total around 68 of them so far within 2 weeks). Some meetings have been great. Others have been polite passes. A few have gone quiet. That's fundraising. It doesn't get easier just because you've done it before or because your numbers are better this time.

The honest challenge: we hit EBITDA positive in Q1 2026 and still haven't found a lead investor to anchor the round. We have follow-on commitments coming in. We have hundreds of millions in contracted revenue for the next 12 months and still, the grind of finding the right lead is real. Nobody tells you that being profitable sometimes makes the fundraising conversation harder, not easier, because growth investors want to see a different kind of story.

Meanwhile the team has been full speed on the product and the business. Tan Wui Li joining us as CFO and has completely changed how we present our financials and our story externally, and we've secured an upcoming CTO (more on this next time) and which is a big deal because we've needed serious engineering leadership for a while now. These aren't just hiring wins, they represent months of convincing the right people that Borong is worth betting their next chapter on.

On the wins side, it's been a genuinely strong few months. Revenue is up, enterprise pipeline is expanding into new verticals including aviation, ports, and financial services. We signed our first channel partner. New enterprise clients keep closing across industries we weren't even targeting a year ago. And we're heading towards a cleaner, leaner, more focused business than we've ever had.

I won't pretend it's clean or comfortable. There are days that are genuinely exhausting. But I'm proud of what this team has built and keeps building. That part doesn't need a highlight reel.

More soon :)

Back to all posts