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Fundraising and capital markets

Data room for Series B and growth rounds

Short answerGrowth investors expect a company that behaves like a future listed business: audited accounts, tax and regulatory compliance across markets, clear, reconciled metrics and governance. The room is larger and the diligence closer to M&A.

How it works in Singapore

Series B and later rounds bring in growth funds, crossover investors, sovereign-linked investors and strategics. Rounds often include a secondary sale by early shareholders.

Due diligence covers every market the company operates in, tax structuring, regulatory licences and data protection compliance.

Best data rooms for series b and growth

Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.

  1. 1 Ellty ~S$191/mo 9.5 Visit Ellty
  2. 2 iDeals On quote 8.9
  3. 3 Datasite On quote 8.7
  4. 4 Ansarada On quote 8.7
  5. 5 Drooms On quote 8.4
  6. 6 Firmex On quote 8.4
  7. 7 Intralinks On quote 8.3
  8. 8 SmartRoom On quote 8.1
  9. 9 DealRoom On quote 8.1
  10. 10 Box ~S$19/user/mo 8.0
26%Security25%Deal tools17%Permissions16%Ease of use16%Cost

Folder index for series b and growth

01
Corporate and groupAll entities and their records.
02
FinancialAudited accounts, QoE, model.
03
TaxGroup tax structure, transfer pricing, GST.
04
RegulatoryLicences by market.
05
CommercialContracts, customers, partnerships.
06
Data and securityData protection policies, security reports.
07
SecondarySelling shareholders and transfer documents.

Singapore rules that apply

Regional compliance

Licences and data protection compliance in each operating country are reviewed.

Stamp duty on secondaries

Secondary components attract 0.2% stamp duty on the transferred shares.

More detail: Stamp duty on shares.

Features you need

FeatureWhy it matters hereRooms in our top 10 that list it
Q&A workflowBidders post a question against a file; your team drafts, approves and publishes the reply, and the whole thread is kept.9 of 10
View and download controlEach file can be set to view-only, print or download, and the setting can be changed later.9 of 10
Audit trailTime-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator.10 of 10
AI featuresVendor-listed help such as auto-filing uploads, summarising agreements, searching across files or drafting answers.5 of 10

How to set it up

  1. Think like an IPO candidateOrganise as if a listing were the next step.
  2. Cover every marketOne folder set per operating country.
  3. Handle the secondary separatelySelling shareholders get their own area.

Mistakes to avoid

  • Treating growth diligence like Series A.
  • Unclear transfer pricing between entities.

Questions people ask

How is growth diligence different?

It is closer to M&A, covering tax, regulatory licences, data protection and governance across markets.

Do secondaries need a separate process?

They share the diligence but need transfer documents, ROFR waivers and stamp duty handling.

Do growth investors want AI-assisted review?

Some use their own tools; AI features in the room help your team find and answer questions faster.