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…
Indonesian e-grocery startup Sayurbox raises $120M Series C funding led by Alpha JWC, Northstar
Sayurbox, an Indonesia-based business to consumer (B2C) and business to business (B2B) e-grocery startup, announced Monday its oversubscribed Series C round of $120 million led by Northstar and Alpha JWC Ventures, with participation from new investor International Finance Corporation (IFC).
Existing investors Astra, Syngenta Group Ventures, and Global Brain as well as other prominent angel…
Infobip’s Nikola Pavesic on unicorns, customer experience, and investing in the community [Q&A]
In a world where borders no longer pose a limit and growth is now determined by online presence, Croatia's first unicorn, Infobip, is looking to help grow the Asia Pacific (APAC) region's next unicorn by becoming an ideal partner to support the digitalization journey for startups. In partnership with VC fund 500 Southeast Asia, Infobip has launched the Startup Tribe APAC Program.
Like an…
Carsome and Public Bank sign MoU for car financing collaboration
Malaysian lender Public Bank said Friday the bank and Carsome has officially signed a Memorandum of Understanding (MoU) for greater business collaborations.
With this MoU, the bank will be able to provide stock-financing and end-financing arrangement for the vehicles to its member Car Dealers and individual purchasers who have won the bids through Carsome online platform, as well as to extend…