FinTech
Singapore’s Grab Holdings boosts its FinTech unit with a $300M funding round
This is the first time for Grab’s FinTech arm to secure money from new investors. The new investment in Grab Financial Group is substantial, but Grab Holdings Inc. continues to own the majority stake in the subsidiary.
Philippines mobile wallet GCash secures $175 million investment amid rising demand for digital payments
GCash has reportedly facilitated over $20.78 billion (PhP1 trillion) in in-app transactions in 2020 and grew its customer based to 33 million, amid increased demand for online payments and money transfer transactions during the COVID-19 pandemic
Singapore-based FinTech company CoAssets to shut down its crowdfunding platform
A few days after the news about the company’s financial troubles surfaced, CoAssets, which operates its crowdfunding platform under the name CA Funding Pte Ltd (CAFPL), announced that it was officially shutting down CAFPL. “We regret to inform you that CA Funding Pte Ltd (CAFPL) is in the process of gradually winding down,” a note on CAFPL’s website……
FinTech startup Finantier joins Y Combinator’s Winter 2021 batch, will expand its tech team
Finantier, a Singapore-based startup that specializes in open finance, is set to be part of Y Combinator’s W21 startup accelerator program next year
Singaporean FinTech startup Fraxtor secures over $6.75M in investments to fund 4 major projects
Fraxtor Private Limited, a digital co-investment platform specializing in real estate, has attracted over S$9 million ($6.75 million) in private investments from its community of Accredited Investors (AIs) who are mostly from Singapore and Australia
Philippine digital payment startup SquidPay raises $4.16M in Series A round funding and credit line
SquidPay closed Php 100 Million in Series A and Php 100 Million ($2.08 million each) line of credit arranged by Eastern Securities Development Corporation (ESDC)
Asia Pacific’s Financial Services industry gains resilience through innovation
Microsoft and IDC study finds that Financial Services Industry (FSI) organizations in the Asia Pacific region have become largely resilient amid the pandemic as they reached maturity in adopting innovation.
