Sea makes major FinTech push as it acquires Indonesia’s Bank BKE
Singapore-based global consumer internet company Sea Ltd. has reportedly acquired the Jakarta-based Bank Kesejahteraan Ekonomi. Sources who requested not to be named revealed that Sea has already obtained full ownership and control of the Indonesian bank that is also known as Bank BKE.
Bank BKE and Sea have not released details about the acquisition as of press time. However, according to…
Vietnam’s most widely used e-wallet app MoMo secures at least $100M in Series D
M-Service, the company responsible for operating Vietnam’s most popular e-wallet service MoMo, has secured at least $100 million in a Series D funding round. This is the most recent new capital infusion for the company since it closed its Series C in 2019. The undisclosed amount raised is reportedly larger than the amount from the undisclosed previous round according to MoMo Co-Founder Nguyen Ba…
Singapore’s Grab Holdings boosts its FinTech unit with a $300M funding round
Grab, Southeast Asia’s first decacorn known for its ride-hailing service, is set to strengthen its presence in the financial technology industry as it raised more than $300 million in an investment round led by Hanwha Asset Management, South Korea’s leading comprehensive asset management firm.
Grab Holdings’ FinTech arm, called Grab Financial Group, was launched in 2018 with the goal of…
Indonesia giants Gojek and Tokopedia reportedly in advanced talks for $18B merger
The tech rumor mill has been churning as two of Indonesia’s biggest tech start-ups have been surfacing in headlines. Gojek, Indonesia’s multiservice platform that highlights its ride-hailing and digital payment features, has allegedly been in talks with one of Indonesia’s e-commerce pioneers, PT Tokopedia. According to Bloomberg, sources familiar with the matter say that the discussion has been…
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.
This brings the company's total funding to $976.5 million, according to a report by TechCrunch.…
FinTech startup Finantier joins Y Combinator’s Winter 2021 batch, will expand its tech team
Finantier Co-Founders Diego Rojas and Keng Low
Finantier, a Singapore-based startup that specializes in open finance, is set to be part of Y Combinator’s W21 startup accelerator program next year. Additionally, the company received an undisclosed amount of funding support from the American startup accelerator known for providing seed funding for now famous brands such as Airbnb and Dropbox.…
Logistics technology startup Zeek secures $10M pre-Series A for Southeast Asia expansion
Zeek, a Southeast Asia-focused logistics technology startup, has secured approximately $10 million in pre-Series A financing.
The company 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.
This brings the total amount of funding to around $15 million, led by SF Holding,…
Carsome Co-Founder and Group CEO Eric Cheng on addressing pain points in a decades-old industry
Anyone who is looking for a good deal on a used car knows the pain points. Unless you have considerable knowledge or expertise in automobiles, chances are you will have difficulty finding a good car that fits your budget. You might be getting a car that has hidden issues that could be expensive to repair or maintain in the long run, for example.
For a seller, finding the right buyer can also…
Australian VC Square Peg eyes SEA expansion with close of 4th fund at $450M
Square Peg has just announced the close of its fourth pool of venture capital with an impressive US$450 million (A$594 million). This brings its total venture capital chest to over $1 billion. The bulk of their fourth pool was led by local Australian institutions AustralianSuper and HostPlus. Other notable companies that supported this round were the Commonwealth Bank of Australia and Roc…
SWITCH 2020 recap: Up close with tech veteran Lei Ming – The Baidu and Kuwo Music Founder on the next breakthrough
What are some best practices for companies to overcome adversity as they seek to expand into China? This session looked back at the tech veteran’s entrepreneurship journey: co-founding Baidu and KuWo Music, before switching gears to the angel investment and artificial intelligence sector.
We have seen multiple advancements in technology and innovations that can change the way we live our…