China’s EV maker NIO announces proposed secondary listing on Singapore Exchange
China-based electric vehicle maker NIO Inc announced on Thursday it has received conditional approval from the Singapore stock exchange for its proposed secondary listing in the city-state.
The company has received a conditional eligibility-to-list letter (ETL) from the Singapore Exchange Securities Trading Ltd on May 5, 2022 for the listing and quotation of its shares on the Main Board of…
Malaysia’s unicorn Carsome’s part of KAF-led consortium winning digital bank license
Southeast Asian used car marketplace Carsome is part of KAF Investment Bank's consortium which recently awarded a digital banking license in Malaysia.
"Yes, we are excited to confirm that Carsome is part of the consortium led by KAF Investment Bank which has received one of the first digital bank licenses in Malaysia granted by Bank Negara Malaysia (BNM)," Carsome investors' relations team…
Accelerating Asia announces Q1 investments into 13 startups, expanding its market and industry footprint
Accelerating Asia has invested in nine new companies from across Asia as of Accelerating Asia’s sixth cohort with a presence in more than 10 countries. Accelerating Asia is one of the most active investors in pre-Series A startups and is an international VC accelerator licensed by the Monetary Authority of Singapore.
Cohort 6 startups have a presence in more than 10 countries in South Asia,…
India’s Evenflow raises $5M pre-series A round from Village Global and others
Evenflow Brands (Evenflow), an India-based e-commerce rollup firm, announced Thursday the closing of its pre-series A round of $5 million.
The round saw participation from Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket, and marquee angel investors such as Emil Michael (Ex-Chief Business Officer at Uber), Vijay Shekhar Sharma (Founder and Chief Executive Officer of…
Malaysia’s unicorn Carsome acquires WapCar & AutoFun Businesses
Southeast Asia’s used car e-commerce platform Carsome Group announced on Thursday the acquisition of digital automotive content businesses under brands of WapCar and AutoFun from Tang Internet Ltd and its subsidiaries.
Upon the completion of the acquisition, Carsome set up WapCar AutoFun Sdn Bhd (WapCar), as a fully-owned subsidiary of the Carsome group in Malaysia.
Carsome Co-founder and…
India’s Geniemode lands $28M Series B funding led by Tiger Global
Geniemode, an India-based business to business (B2B) cross-border tech platform for lifestyle goods, said Friday it has scooped up $28 million Series B funding led by Tiger Global.
Existing investor Info Edge Ventures, also doubled down in the round, Geniemode said in a statement. The new round has come within just four months of the company closing its $7 million Series A led by Info Edge.…
GRAB-Singtel, Axiata’s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses
Bank Negara Malaysia announced on Friday the five successful applicants for the digital bank licenses as approved by the Minister of Finance Malaysia. The country will have three digital banks licensed under the Financial Services Act 2013 (FSA) and two Islamic digital banks licensed under Islamic Financial Services Act 2014 (IFSA).
According to the cenral bank, the following applicants are to…
Malaysia to announce digital banking license winners as early as Friday – report
Bank Negara Malaysia is expected to announce the successful applicants for its digital bank licenses on Friday (Apr 29), local media theedgemarkets.com reported, quoting sources. The central bank said earlier that the announcement will be made by end of last month.
The central bank later told local media that it would be announcing the winners “upon completion of the legal process”.
Bank…
Alibaba’s Lazada to expand to Europe – report
Lazada, the Southeast Asian arm of Chinese e-commerce giant Alibaba Group, plans to expand to Europe, Reuters reported, quoting two sources familiar with the matter.
Lazada plans to target local European vendors, while AliExpress will continue to focus mainly on cross-border sales from China, one of the sources told Reuters. Lazada Thailand CEO James Dong will help spearhead the initiative,…
Indonesian Bukalapak 1Q revenue surges 86 percent to $54.39M on higher Mitra Bukalapak contribution
Indonesian e-commerce firm Bukalapak said Thursday that its revenue for the first quarter of 2022 (1Q22) grew by 86 percent year on year to IDR788 billion ($54.39 million), underpinned by its Mitra Bukalapak’s growth.
Bukalapak said in a statement that Mitra Bukalapak’s 1Q22 revenues grew by 227 percent year on year to IDR472 billion ($32.58 million), 47 percent higher than 4Q21.
Mitra…