CT Corp, Salim, Bukalapak, Grab, Carro and Growtheum Capital Partners to buy into Indonesia’s Allo Bank right issue

Indonesian conglomerates CT Corp, Salim Group, e-commerce marketplace Bukalapak, ride-hailling firm Grab, used car marketplace Carro, and private equity firm Growtheum Capital Partners have jointly participated in the rights issue of Bank Allo to accelerate the expansion of credit services across Indonesia. Bank Allo is a fully licensed bank offering personal, business, joint accounts…

Southeast Asia’s Top 10 tech news in 2021

In 2021, many parts of the world (perhaps excluding China and North Korea) including Southeast Asia are still very much affected by the COVID-19 pandemic, no thanks to the more infectious Delta-variant. Countries have to re-impose lockdowns and travel restrictions as the number of COVID-10 cases spiked. But the pandemic forces digital acceleration and digital transformation across various…

Hong Kong billionaire Adrian Cheng enters metaverse via investment in Animoca Brands’ The Sandbox

Adrian Cheng, Executive Vice-Chairman and CEO of Hong Kong-listed conglomerate New World Development Company Ltd, is the latest billionaire to invest in the metaverse. Cheng, the third-generation leader of the Hong Kong property giant, has joined and invested in The Sandbox, a decentralized gaming virtual world, and subsidiary of blockchain-focused game developer Animoca Brands. The Sandbox…

India edtech firm BYJU’S acquires Austrian mathematics software provider GeoGebra

BYJU’S, a homegrown Indian edtech firm, said it has acquired Austria-based mathematics software provider GeoGebra. The company, however, did not disclose the value of the deal. This acquisition complements the company's overall product strategy and integrates GeoGebra’s capabilities to enable the creation of new product offerings and learning formats to its existing mathematics portfolio,…

India’s Zoomcar to start operations in Vietnam

Zoomcar, an India-based car sharing marketplace, announced Wednesday that it will be launching its operations in Vietnam. The company, which dominates the self-drive car rental market in India, has expanded to Southeast Asia and appointed Kiet Pham as country head in Vietnam to help scale its business, Zoomcar said in a statement. This broader geographic expansion is in line with Zoomcar’s…

Thailand NFT platform GuildFi raises $6M seed financing from DeFiance, Capital and Hashed to create an interoperable Metaverse

GuildFi, a Thailand-based interconnected Web3 ecosystem of games, non-fungible tokens (NFTs) and communities, said Wednesday it has raised $6 million in a seed round co-led by DeFiance Capital and Hashed. Pantera Capital, Coinbase Ventures, Alameda Research, Animoca Brands, Dapper Labs, Play Ventures, SkyVision Capital, Coin98 Ventures, and other notable investors, also joined the round.…

Indonesian boutique hotelier ARTOTEL Group raises Series B financing to fuel expansion

ARTOTEL Group, Indonesia’s boutique hospitality and lifestyle group, announced Friday the completion of an undisclosed Series B round of financing. The group said in a statement, the round was led by Indies Capital Partners, a leading Southeast Asian alternative asset manager, with participation from creative industry-focused Benson Capital. ARTOTEL Group will utilize the proceeds of this…

Standard Chartered to provide $500M financing to BNPL firm Atome for its expansion

UK multinational banking group Standard Chartered announced on Wednesday it plans to provide financing of $500 million in Singapore FinTech firm Atome Financial, as part of a 10-year multi-product strategic partnership of the two companies have forged. The strategic partnership combines the two companies' strengths in finance and technology to deliver a wide range of financial services to…

Bank of China, DBS & HSBC join GSBN to form Trade Finance Advisory Group to transform global trade

Global Shipping Business Network (GSBN), an independent, not-for-profit technology consortium to build a blockchain-enabled operating system designed to redefine global trade, welcomes Bank of China (BOC), Singapore multinational banking group DBS Bank (DBS), and British multinational banking group The Hongkong and Shanghai Banking Corporation Ltd (HSBC), to form the consortium’s Trade Finance…

How Carsome became Malaysia’s largest tech unicorn – with a little help from a friend

Gobi Partners’ continued faith and multiple investments into Carsome paved the way for the e-commerce platform to dominate Southeast Asia’s used car scene, en route to becoming Malaysia’s first and largest unicorn. TechNode Global spoke to Carsome Co-Founder and Group CEO Eric Cheng and Gobi Founding Partner Thomas G. Tsao to get the back story. Think used cars, think dingy dealerships,…