Investments
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’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
Indonesian genotech firm Nusantics secures funding for new Covid-19 test kit tech
Nusantics is planning to use the fund to continue expanding its research and development in the field of genomes of different microorganisms. Aside from microbiome analysis, Nusantics also plans to delve into research and production geared towards medical diagnostic kits, specifically Covid-19.
Indonesian AI investment advisor app Bibit secures $30M in Series A round
Robo-advisor mutual fund investment app Bibit raised $30 million in a Series A led by Sequoia Capital India. The funding round was also participated by previous investors EV Growth, AC Ventures, East Ventures, and the global early-stage venture fund 500 Startups.
💸 Here’s a handy list of Southeast Asia’s newest VC funds
Updated regularly, here’s a rundown of fresh funding coming into the region.
On-demand logistics platform Lalamove raises $515M Series E for China expansion
On-demand logistics company Lalamove has raised $515 million in Series E funding, as announced on its website (the company is known as Huolala in China). This round was led by Sequoia Capital China Fund, with participation from Hillhouse Capital and Shunwei Capital--all returning investors.
Singapore-based travel-optimization platform Navisteps secures $1M in pre-Seed round
The travel startup plans to use this fund to expand and add new partner integrations onto its platform and look further into its current expense analytics model
Skuad raises $4M Seed round to ramp up global payroll platform
Skuad plans to use this fresh capital by investing in the growth team who will be located in different regions geographically and continue working on developing their remote working infrastructure.
Logistics technology startup Zeek secures $10M pre-Series A for Southeast Asia expansion
Zeek intends to use the funds to further its expansion in Southeast Asia markets, enhance and refineme its logistics management technology, and in data analytics applications
