SEA
[Updated] Malaysia’s AirAsia classified as financially distressed company
AirAsia triggered the financial distress criteria, known as PN17 back in July 2020. This came after its external auditor flagged significant uncertainties that cast doubt on its ability to continue as a going concern.
Southeast Asia neobank Crowdo closes $5.9M pre-Series B convertible bridge round from Gobi, Ivest
The funds will be used to expand Crowdo’s neobank platform in Singapore and Indonesia and scale its ESG financing portfolio. Crowdo is headquartered in Singapore but fully licensed by the Indonesian financial authority Otoritas Jasa Keuangan for digital lending in since 2017. The fintech is also registered with the Securities Commission Malaysia.
Malaysia-based Carsome raises $300M from Temasek-backed funds, QIA – report
Carsome, Malaysia's first tech unicorn, is said to be planning for an initial public offering in the US later this year.
CT Corp, Salim, Bukalapak, Grab, Carro and Growtheum Capital Partners to buy into Indonesia’s Allo Bank right issue
Indonesian conglomerates CT Corp, Salim Group, e-commerce marketplace Bukalapak, ride-hailling firm Grab, used car marketplace Carro, and private equity firm Growtheum Capital Partners have jointly participated in the rights issue of Bank Allo to accelerate the expansion of credit services across Indonesia. Bank Allo is a fully licensed bank offering…
Hong Kong intelligent logistics platform Zeek launches quick commerce solutions in Hanoi, Vietnam
Zeek is closing the year on the back of strong momentum in Southeast Asia. Following its foray into Ho Chi Minh City in the fourth quarter of 2020 and its successful partnership with Circle K Vietnam, one of Vietnam’s largest local convenience store chains, Zeek has expanded its footprint in Vietnam with its launch in Hanoi in November 2021.
Tencent divests 2.6% of equity interest in Singapore’s Sea Ltd
Tencent’s voting power to be reduced below 10 percent following the transaction and proposed share conversion.
Indonesia’s Alpha JWC Ventures banks on larger fund size as it scouts for opportunities in Southeast Asia
The firm, which has invested in several small and medium enterprises (SME) solutions companies, like GudangAda and UnaBrands, also believes that these firms will be the "next big trends" in the region.
Vietnam’s e-wallet firm MoMo raises $200M, now a unicorn valued above $2B
The company will also expand and strengthen its services in tier 2 and tier 3 cities as well as rural areas.
Southeast Asia’s Top 10 tech news in 2021
It’s that time of the year again when we take a look back at what had happened during the year in the tech and startup scene.
Softbank, Tencent-backed Indian used car platform Cars24 raises $400M
The investment will be used for the brand’s global expansion in the Middle East, Australia, and Southeast Asia, and to further strengthen its foothold in the Indian market.
