SEA

Grab delivers first adjusted profitable quarter as topline continues to grow

Southeast Asia superapp Grab said Thursday it has delivered the first adjusted earnings before interest, taxes, depreciation (EBITDA) profitable quarter as topline continues to grow. The group's adjusted EBITDA turned positive for the first time at $29 million for the third quarter, an improvement of $190 million compared to adjusted losses before interest,…

Carsome appoints Miguel Fernandez as CFO

Southeast Asia’s largest integrated car e-Commerce platform Carsome Group Inc. has on Wednesday announced the appointment of Miguel Fernandez as its Group Chief Financial Officer, effective from November 1, 2023.

AirAsia parent Capital A to list brand management business on NASDAQ via SPAC deal

The proposed business combination will be at an indicative equity value of $1 billion based on an independent valuation of the AirAsia Brand.

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.

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…

Korea Investment Partners Southeast Asia closes $60M flagship Southeast Asia VC fund

Korea Investment Partners Southeast Asia Pte. Ltd. (KIPSEA), the Singapore-based team of Korea Investment Partners (KIP) has successfully closed $60 million for its first flagship Southeast Asia venture capital fund.

Singapore’s YouTrip raises $50M Series B funding to accelerate regional expansion

YouTrip, a Singapore-based multi-currency digital payments platform, has on Thursday announced it has raised $50 million in its latest Series B fundraising round, led by new investor and global venture capital firm Lightspeed. This brings YouTrip’s total funds raised to over $100 million since inception.

Malaysia’s Capital A prepares to raise more than $1B in debt, equity as it prepares New York SPAC listing – report

Fernandes has agreed a deal with Aetherium Acquisition, a special purpose acquisition company trading on NASDAQ, and plans to list several businesses through it next year, the FT reported.

SoPa’s Thoughtful Media ventures into concert sponsoring in Indonesia

Thoughtful Media Group Inc (TMG), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (SoPa), has on Tuesday announced that it will commence sponsoring local live music events in Southeast Asia (SEA), resulting in creating unique marketing opportunities for advertisers.