SEA

Vietnam’s Green and Smart Mobility JSC. (GSM) has imported 150 VinFast electric cars into the Lao market in preparation to launch its electric taxi service under the brand Green SM. Green SM plans to introduce its electric taxi services in Laos by 2023, with 1,000 VF 5 Plus and VF e34 electric cars making up its fleet.

Society Pass Inc. (SoPa), the Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, has announced an equity line of up to $40 million to invest into operating subsidiaries projected to go public in 2024.

TikTok has recently come under scrutiny in Southeast Asia. Last week, Indonesia's government has halted transactions on its platform following a ban on e-commerce trade on social media.

In the interview, 917Venture Head of Ideation and Acceleration Glenn Estrella also shared PetPal’s short-term and long-term plans, the potential and opportunities the company sees in the pet care market in the Philippines and the rest of Southeast Asia, among others.

In Southeast Asia, about 70 percent of small and medium enterprises (SMEs) started their business with seed money raised from their personal savings and from family and friends’ financial support, said a report published by Funding Societies, a Southeast Asia’s unified SME digital finance platform.

Southeast Asia consumer confidence on track for rebound as value-seekers embrace new “needs”, according to a report launched by Meta, Bain & Company, DSG Consumer Partners on Tuesday.

1982 Ventures, the early stage venture capital firm focused on fintech and tech infrastructure in Southeast Asia, has announced the key hire of Amiyandra Suratman as Regional Venture Capital Ecosystem and Platform Lead based in Jakarta, Indonesia. Her responsibilities will be to support the fund with strategic stakeholder relations including portfolio…

Singapore-based Fintech startup CrossFund has raised additional $1.5 million in funding at a $47 million valuation. The firm has raised its fourth funding round in two years from family offices in the Middle East and North Africa (MENA) and Asia, BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and strategic angels.

Total funding into FinTech startups in Southeast Asia (SEA) fell 74 percent to $229 million in the third quarter of 2023 from $887 million a year ago, making it the lowest funded quarter since 2020, Tracxn said Friday. The drop in funding was largely due to the absence of late-stage rounds in the third quarter of 2023.

AirAsia Cambodia has on Thursday announced a strategic partnership with Oriental Bank Plc, a digital banking institution in the country, to offer innovative payment solutions for flight bookings tailored to the needs of Cambodian guests.