Sea’s Shopee launches food delivery service in Malaysia rivalling GrabFood, Foodpanda
Singapore-headquartered tech conglomerate Sea Ltd's e-commerce arm Shopee has officially launched food delivery services ShopeeFood in Malaysia.
The service, which will be rolled out in batches, will be made available to over 8 million Malaysians living in the Klang Valley starting Friday (Sept 24) offering access to a variety of eateries from popular joints such as A&W, Burger King,…
UOB Venture Management leads $30M Series B in Indonesia ‘halal’ social commerce platform Evermos
Editor's note: updated with more information on MDI Ventures
Indonesia social commerce platform Evermos announced on Wednesday an oversubscribed Series B funding round of over $30 million led by a new investor, UOB Venture Management’s Asia Impact Investment Fund II.
Other participants in the round included IFC, MDI Ventures (through its KB-MDI Centauri Fund), Telkomsel Mitra Innovation…
Fave partners Google Pay to offer cashback to Singaporean users
Malaysia-based loyalty and cashback platform Fave has announced a partnership with Google Pay, the US-based tech giant Google's digital payments app that supports online and in-store purchases.
Through the partnership with Fave, users of Google Pay can now scan any FavePay SGQR, and earn up to 20 percent cashback across 15,000 F&B outlets and retailers which include Subway, Food Republic,…
Malaysia finance minister says Indonesian FinTech unicorn Xendit to relocate financial hub to Malaysia – report
Indonesia-based FinTech firm Xendit, which has reached unicorn status last week, is said to be relocating its financial hub to Malaysia.
The announcement was made by Malaysia Finance Minister Zafrul Abdul Aziz, Reuters reported on Tuesday. He said the government’s venture capital investment fund has invested in Xendit, following an investment in used-car marketplace Carsome, the country's…
Singapore-based online spiritual wellness firm Emerging Vision raises $4M in Series A funding
Singapore-based online spiritual wellness company Emerging Vision raised $4 million from its Series A funding round led by Lightspeed.
Having reached $5 million in total funding, Emerging Vision will utilize the resources for enhancing its Guruji and Teller live streaming wellness platforms, as well as scaling the company’s operations, the company said in a statement on Tuesday.
“Although…
Digital payments are no longer just ‘nice-to-have’ but are now ‘must-have’ in business strategy, says 2C2P’s Aung Kyaw Moe [Q&A]
The growth of e-commerce, digital transformation, and value-added services have made digital payments among the fastest-growing sectors to date. In a policy brief cited by the Asian Development Bank states that "this trend is pushing countries in the region to upgrade their payment systems infrastructures and update their supervision and regulatory frameworks."
Transaction value in Southeast…
Indonesia’s Indepay launches tara.app, an open transfer platform aimed at accelerating digital payments for consumers and MSMEs
Indepay has announced the launch of its mobile-first transfer platform tara.app framework. tara.app is an interactive social commerce framework meant for D2C businesses, brands merchants, micro-merchants, warungs, and nearby retailers powered by the Indepay Transfer Platform. It is designed to bring new online orders and instant payments for Indonesian MSMEs through an open platform by providing…
Thai alternative digital lending platform SCB Abacus closes a $12M Series A round led by Openspace Ventures
SCB Abacus, an alternative digital lending platform in Thailand backed by Siam Commercial Bank, has raised $12 million in an oversubscribed Series A funding round.
The round was led by Singapore-headquartered VC firm Openspace Ventures, with additional capital coming from Vertex Ventures Southeast Asia and CAI Partners, the company said in a statement on Thursday.
The funding injection will…
Singapore online marketplace Carousell becomes Southeast Asia’s latest unicorn after raising $100M
Singapore-headquartered classifieds platform Carousell Group announced on Wednesday that it has secured an investment of $100 million in a funding round led by Korean private equity firm STIC Investments.
This also marks a significant milestone that will bring Carousell’s valuation to $1.1 billion. The investment will power the group’s ambitions to redefine commerce for secondhand goods and…
Indonesia FinTech firm Xendit reaches unicorn status with $150M Series C led by Tiger Global Management
Indonesian payments startup Xendit announced on Tuesday a $150 million Series C that elevated the company to the short list of Southeast Asia unicorns. The round was led by Tiger Global Management with participation from existing investors Accel, Amasia, and Justin Kan’s Goat Capital.
With the latest investment, Xendit plans to continue innovating its product suite, with sights on expansion…