SEA
Malaysia to announce digital bank license winners next month – report
Malaysia’s move to issue digital banking licenses comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections.
Fave appoints ex-Touch ‘n Go executive as Chief Product Officer
Fave has appointed former Touch 'n Go (TNG) executive Arvindd Selvaratnam as its Regional Chief Product Officer (CPO). Arvindd will be overseeing the company’s regional product roadmap and strategic planning, and will be leveraging various emerging opportunities for Fave in their next phase of growth. As CPO, Arvindd will also be leading product design and…
Indonesian online grocery platform Happy Fresh launches HappyFresh Supermarket
Happy Fresh has launched HappyFresh Supermarket to extend fresh and dry grocery accessibility by significantly growing its dark store presence in the Southeast Asian region. It aims to provide an easy and convenient online grocery shopping experience, with high-quality and freshly handpicked products brought right to their customers’ doorsteps with free…
Indonesian fishery platform Aruna raises $30M in follow-on Series A funding, bringing total capital raised to $65M
The round also saw participation from existing investors Prosus Ventures, AC Ventures, East Ventures (Growth Fund), Indogen Capital, SMDV and SIG Venture Capital. This brings the total Series A funding raised to $65 million.
AC Ventures’ Adrian Li says Indonesia’s the most compelling market to invest in ASEAN [Q&A]
Last month, AC Ventures had closed its Fund III with over $205 million in committed capital.
Ant-backed Indonesia’s Akulaku considers SPAC merger at $2B value – report
"Both parties have signed an exclusive relationship," a person familiar with the matter told TechNode Global.
Singapore EdTech firm ErudiFi raises debt facility of $15M with Helicap
ErudiFi has secured a debt facility of $15 million from Helicap. This funding round will help support the firm in providing for the needs of students across the Philippines and Indonesia, by offering them affordable tuition installment plans.
AirAsia aims to become Asia’s largest food delivery, ride hailing company – report
AirAsia has been aggressively building its digital businesses and its Asean Super App over the last two years as most of its planes were grounded due to the ongoing COVID-19 pandemic.
[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.
