News
Funding Societies raises $7.5M in debt from Norfund
Funding Societies | Modalku, the largest unified small and medium enterprises (SME) digital finance platform in Southeast Asia, has on Thursday announced that it has raised $7.5 million in debt from Norfund, a Development Financial Institution (DFI) which operates an investment fund owned by the Norwegian government for developing countries.
Singapore’s SPH Media to acquire tech media firm Tech in Asia
Financial terms of the transaction will not be disclosed.
NTT DATA gets contract from Singaporean government to provide data platform for EV
NTT DATA Singapore (NTT DATA), a unit of the Japan-based telecommunications firm NTT Group, has announced a groundbreaking partnership with electric vehicle (EV) ecosystem orchestrator EV-Electric Charging Pte Ltd. (EVe), a subsidiary of the Land Transport Authority (LTA). NTT DATA will provide an innovative data platform, bolstering EVe's mission to deploy…
MoMo integrates payment solution into the Grab app
MoMo, Vietnam’s fintech unicorn, and Grab Vietnam have on Wednesday announced the integration of MoMo’s payment solution into the Grab app. This partnership aims to provide users with a secure and hasslefree cashless payment experience. Also, it allows the two brands to become more integrated in the everyday life of local consumers.
Singapore’s VE Technology raises $21.9M in funding led by Mox Capital
VE Technology Group, a Singapore-based enterprise tech ecosystem, has announced a SGD 30 million ($21.9 million) funding round led by alternative investments think-tank Mox Capital. The firm will be utilizing this fresh injection of funds to expand into neighboring Southeast Asian markets, in preparation for an upcoming initial public offering (IPO) listing…
E-Conomy SEA 2023 report: Southeast Asia’s digital economy is set to hit $100B in revenue
Southeast Asia (SEA)’s revenue from the digital economy is poised to hit $100 billion this year, growing 1.7 times as fast as the region’s gross merchandise value (GMV), Google, Temasek and Bain & Company said in a report on Wednesday. According to the 8th edition of the e-Conomy SEA report, despite global macroeconomic headwinds, the region’s GMV…
Softbank-backed WeWork plans to file for bankruptcy – report
Shares of WeWork plunged following the bankruptcy plan news. WeWork shares fell by more than 40 percent in after-hours in New York trading on Tuesday.
Carousell partners YouBiz to boost digitalization among startups in Singapore
Two leading homegrown start-ups in Singapore, Carousell and YouBiz, have on Wednesday announced a strategic partnership to help local small and medium-sized enterprises (SMEs) and start-ups accelerate their business growth with digitalization tools and resources.
Funding into Mental HealthTech startups takes a hit in 2023: Tracxn
Funding into Mental HealthTech startups takes a hit in 2023 due to the ongoing economic slowdown and other macroeconomic factors affecting the cash flow globally, Tracxn said Wednesday. The mental HealthTech space globally witnessed funding worth $713 million year to date, a 52.5 percent decline from $1.5 billion raised in the same period in 2022.
Indonesian startup Mimin expands Generative AI services to Malaysia and Singapore
Mimin, the Indonesian platform enabler revolutionizing customer service through artificial intelligence (AI)-driven chat, has announced its expansion into Malaysia and Singapore.
