Australia’s FinTech unicorn Airwallex launches payment services in Malaysia
Australia-based FinTech platform Airwallex announced Thursday the launch of its cross-border payment services in Malaysia, following its grant of a money services business license by Malaysian regulator Bank Negara Malaysia in August last year.
Initially, qualified Malaysian businesses will be given access to Airwallex's fast, transparent and cost-effective foreign exchange conversions and…
Indonesia’s GoTo to raise $1.1B in IPO
Indonesia's largest tech firm GoTo Group said Thursday it will raise $1.1 billion in its initial public offering (IPO), which would make this the third largest IPO in Asia and fifth largest in the world this year.
The IPO price has been set in the top half of the range at IDR338 ($0.024) per share, representing a projected market capitalization of approximately $28 billion, GoTo Group said in…
India’s Pine Labs raises $50M from United Kingdom’s Vitruvian Partners
Indian merchant commerce platform Pine Labs announced Wednesday a new investment of $50 million from Vitruvian Partners, a London-headquartered international investment firm.
“At Pine Labs, we are deeply focussed on the omnichannel play and are building frictionless and seamless payment experiences for our merchant partners and large enterprises. We aim to further strengthen our recent foray…
Malaysia to enact laws to better regulate ‘Buy Now Pay Later’ schemes
Malaysia's central bank is working with the Finance Ministry and Securities Commission Malaysia to enact laws to better regulate 'Buy Now Pay Later' (BNPL) schemes.
Bank Negara Malaysia and the two parties are working together to enact the Consumer Credit Act (CCA) in 2022.
"The CCA will strengthen regulatory arrangements for all consumer credit activities, including BNPL schemes offered…
Sea Ltd’s Shopee to close down India operations – report
Shopee, the e-commerce arm of Singapore-headquartered Sea Ltd, said it is shutting down its operations in India "in view of global market uncertainties", Reuters reported on Monday.
The New York-listed tech firm launched in India in October 2021, part of an international push that saw it expand into Europe. Sea has been embarking on an aggressive international expansion last year in a bid to…
FinTech continues to be a hot sector in Southeast Asia after a booming 2021
Editor’s note: AC Ventures, Gobi Partners & HomeCrowd are participants of Life’s A Pitch! (FinTech) on March 24. The next Life's A Pitch! (renewable energy) will be held on Apr 28, interested startups can register here.
FinTech will continue to be one of the hottest sectors in Southeast Asia after record amounts were pumped into the region’s FinTech firms last year, according to…
2C2P partners with ShopeePay to boost digital payments in Southeast Asia
2C2P, a Singapore-based payments platform, and ShopeePay, a Singapore-based integrated mobile wallet, announced Wednesday a new partnership to increase access to digital payments for consumers and merchants by enabling ShopeePay as a payment option to 2C2P’s extensive merchant network across five markets in Southeast Asia.
The move will enhance connectivity to the digital economy, a key…
Indonesia readying tough new curbs for online platforms – report
Indonesia is preparing tough new rules that will allow it to criminally charge and fine internet and social media platforms, Reuters reported on Wednesday, quoting sources.
Quoting sources from companies and government, Reuters reported that some executives of online firms briefed on the plans warned the measures will be hard to comply with, raise their operating costs, and could undermine…
Malaysia’s iPrice Group raises $5M from Itochu Corporation and KDDI Corporation
iPrice Group, Malaysia-based price comparison platform, announced Wednesday that it has raised $5 million of additional funding led by Japan-based firms Itochu Corporation and the KDDI Open Innovation Fund III (operated by Global Brain Corporation).
The additional funding will bolster iPrice’s role in finding shoppers the best deals as Southeast Asia’s e-commerce market becomes increasingly…
Singapore’s Handprint raises $2.2M seed funding led by Thunes
Handprint, a Singapore-based technology platform that is building the sustainability infrastructure for the digital world, announced Monday that it has raised $2.2 million in seed funding led by leading payments network Thunes, with participation from other angel investors.
The funding will be used to further build Handprint’s technology and expand its network of impact partners, helping to…