FinTech

After closing a $175 million private equity funding from the New York-based Bow Wave Capital Management, Mynt, also known as Globe FinTech Innovations, seeks to raise more funds to reach unicorn status.

With this acquisition, Sea, which is regarded as Southeast Asia’s most valuable company, strengthens its foothold in the FinTech sector. The company is inching closer towards its goal of becoming the financial technology leader in the ASEAN region.

M-Service, the company responsible for operating Vietnam’s most popular e-wallet service MoMo, has secured at least $100 million in a Series D funding round. This is the most recent new capital infusion for the company since it closed its Series C in 2019.

The company plans to grow the team and work on its current product offerings and set up new offerings to further diversify. This will include working on ZipUp, Zipmex’s interest-bearing product, and ZMT, its new native token.

On the first working day of 2021, Singapore’s Parliament approved a bill to impose stricter oversight on virtual payment service providers that support DPTs or cryptocurrencies

This is the first time for Grab’s FinTech arm to secure money from new investors. The new investment in Grab Financial Group is substantial, but Grab Holdings Inc. continues to own the majority stake in the subsidiary.

GCash has reportedly facilitated over $20.78 billion (PhP1 trillion) in in-app transactions in 2020 and grew its customer based to 33 million, amid increased demand for online payments and money transfer transactions during the COVID-19 pandemic