Paramount invests RM10mil in e-commerce ecosystem Commerce.Asia

KUALA LUMPUR: Paramount Corp Bhd has invested RM10mil in e-commerce venture Commerce DotAsia Ventures Sdn Bhd (Commerce.Asia), in line with its strategy to diversify its revenue stream.

In a statement, the group said the investment was made via its wholly-owned investment vehicle Magna Intelligent Sdn Bhd and Magna's 30%-owned associate Omegaxis Sdn Bhd, which owns peer-to-peer lending platform Fundaztic.