FinTech
Sea makes major FinTech push as it acquires Indonesia’s Bank BKE
With this acquisition, Sea, which is regarded as Southeast Asia’s most valuable company, strengthens its foothold in the FinTech sector. The company is inching closer towards its goal of becoming the financial technology leader in the ASEAN region.
Vietnam’s most widely used e-wallet app MoMo secures at least $100M in Series D
M-Service, the company responsible for operating Vietnam’s most popular e-wallet service MoMo, has secured at least $100 million in a Series D funding round. This is the most recent new capital infusion for the company since it closed its Series C in 2019.
Singapore FinTech Zipmex raises $6M to grow its digital assets exchange in Asia Pacific
The company plans to grow the team and work on its current product offerings and set up new offerings to further diversify. This will include working on ZipUp, Zipmex’s interest-bearing product, and ZMT, its new native token.
Singapore sets new rules for payment service companies that support crypto
On the first working day of 2021, Singapore’s Parliament approved a bill to impose stricter oversight on virtual payment service providers that support DPTs or cryptocurrencies
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
