SEA

The Jakarta-based startup has reached a valuation of $1 billion after raising $153 million in a financing round led by DST Global.

Grab has increased its holding in Ovo's parent company PT Bumi Cakrawala Perkasa from about 39 percent.

The funding round was co-led by Prosus Ventures, Tencent and B Capital Group. Amazon founder Jeff Bezos's Bezos Expeditions also joined the round.

The hotel aggregator's IPO plan also comes at a time when travel restrictions are being eased in many countries and the tourism sector is expected to rebound.

The fund aims to back digital asset companies across Europe and Southeast Asia, focusing on companies developing distributed ledger technology infrastructure, decentralized finance solutions, and regulatory technology tools.

Rodeo’s ability to successfully marry data analytics with production house capabilities has drawn customers such as Alibaba and AirAsia Ride, and saw Rodeo raise 1.13 million MYR from 85 investors in an equity crowdfunding campaign.

The company is offering 2.9 million shares at a price range of $8 to $10. At the mid-range, this puts the IPO at around $26 million at a $188 million valuation.

The funds will be used to grow the user base of its e-wallet application - TrueMoney Wallet - and to expand digital financial services, including digital lending, digital investment, and cross-border remittances across Southeast Asia.

The first phase of the DuitNow-PayNow linkage will be launched in the fourth quarter of 2022 and will allow customers of participating financial institutions to make real-time fund transfers between Malaysia and Singapore using just a mobile number.

The funds will be allocated towards infrastructure and technology systems that will support a sustainable long-term cost structure, as well as the quality and consistency of Ninja Van’s operations.