FinTech
Philippine neobank Tonik secures $100M in consumer deposits
Tonik, the Philippines' first digital-only neobank, has surpassed PHP5B ($100M) in consumer deposits, just eight months after its launch of commercial operations.
Singapore digital banking firm Tyme raises $180M capital from Tencent and CDC Group
Tyme has successfully secured investments from Tencent and CDC to complete its $180 million Series B capital raise. Tyme, which has its roots in South Africa, is using the funding to grow TymeBank in South Africa and GOTyme in the Philippines.
GIC-backed VNG to raise funds ahead of US listing – report
The company is said to be seeking to raise $200 million to $300 million from new and existing backers.
Hong Kong’s WeLab acquires Bank Jasa Jakarta in Indonesia to launch second digital bank in Asia
WeLab announced Monday the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in Asia further to the successful launch of WeLab Bank in Hong Kong. WeLab said it had drawn wide-spread interest from existing and new investors who have already contributed $240 million for this transaction,…
Singapore financial technology firm Xen Capital raises $7.5M Series A led by Headline Asia
Xen Capital has raised $7.5 million in a Series A round led by Headline Asia (formerly known as Infinity Ventures) to scale its business to business to consumer (B2B2C) alternative investment platform.
South Korean online lending platform PeopleFund raises $64M Series C funding led by Bain Capital
PeopleFund will utilize the funds to hire artificial intelligence (AI) engineers and acquire alternative data to further upgrade its credit-scoring algorithm while focusing on credit scoring technology with the acquisition of MyData license set for late this year.
India fintech platform Simpl raises $40M Series B funding led by Valar Ventures and IA Ventures
Simpl, has raised a $40 million Series B round led by Valar Ventures and IA Ventures with participation from LFH Ventures and other internal investors. The investment brings the total capital raised by the company to $83 million.
Grab to debut on NASDAQ after investors approve SPAC merger
Altimeter Growth Corp announced that its shareholders approved the business combination with Grab at an extraordinary meeting of shareholders on Tuesday.
India’s Slice turns unicorn after raising $220M led by Tiger Global and Insight Partners
Slice has raised $220 million in a Series B round that values the company at over $1 billion.The round was led by investors Tiger Global and Insight Partners. New and existing investors including Advent International’s Sunley House Capital, Moore Strategic Ventures, Anfa, Gunosy, Blume Ventures, and 8i also participated in the round.
Singapore multi-currency wallet YouTrip raises $30M to accelerate growth in B2C and B2B space
YouTrip has raised $30 million in its latest Series A round. The round, driven by returning investors from major Asian family offices and prominent financial technology investors, will solidify the fintech firm’s position as the leading neobank in Southeast Asia offering business to business (B2B) and business to consumer (B2C) multi-currency payments.
