Indonesia’s GoTo to complete $2B funding round, eyes IPO in 2022 – report
Indonesia's largest tech group GoTo is set to wrap up a pre-IPO funding exercise to raise up to $2 billion in the next few weeks, Reuters reported.
Quoting sources, the report said regulatory delays threaten to push its listing plans to early next year.
The delay comes as Indonesia's Financial Services Authority (OJK) considers new listing guidelines for tech companies to offer dual-class…
Southeast Asia market opportunities uncovered
Southeast Asia's rapid rise of technology companies has continued. The imminent public listings of several ventures will start a new wave of investment opportunities and innovation. Adrian Li, AC Ventures’ Co-founder & Managing Partner shared his views and predictions at SuperReturn Emerging Markets 2021, “SEA Market Opportunities Uncovered" earlier this year.
The Indonesia market…
AirAsia’s logistics arm Teleport to acquire food delivery platform Delivereat for $9.8M
Malaysia's low-cost airline AirAsia Group Bhd's logistics arm Teleport has signed an agreement to acquire Malaysian online food delivery platform Delivereat in a deal valued at $9.8 million.
The deal values Teleport at $300 million and welcomes investors, including Kuala Lumpur and Shanghai-based venture capital firm Gobi Partners onboard, AirAsia said in a statement on Wednesday.
As part…
Does Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A]
Editor’s note: This interview is part of a Q&A series with some of the contenders vying for a digital banking license in Malaysia.
Axiata-RHB consortium is often seen as one of the forerunners to win a digital banking license in Malaysia as the consortium has brought together one of the largest telecommunications groups in the region and the country’s fourth-largest banking group.…
Singapore’s Sea Q2 revenue jumps 159% on-year; raises full year 2021 guidance
Singapore-headquartered e-commerce and gaming group Sea Ltd reported a 158.6 percent jump in revenue to $2.3 billion in the second quarter of 2021, mainly driven by growth in the e-commerce business and its digital entertainment business.
The New York Stock Exchange-listed tech giant saw its net loss widen to $433.67 million in the second quarter from $393.54 million a year ago, mainly due to…
Singapore financing startup Jenfi raises $6.3M Series A led by Monk’s Hill Ventures
Singapore-based revenue-based financing company Jenfi said Tuesday it has raised $6.3 million in Series A funding led by Monk’s Hill Ventures.
Other investors include Golden Equator Ventures and Korea Investment Partners (via the GEC-KIP Fund), 8VC, ICU Ventures, and Taurus Ventures.
The Series A funding will be used for product development, customer acquisition, and expansion in Southeast…
Challenges and opportunities: How digital tools help increase customer retention rate and yield for traditional businesses like automotive service
When car owners rely on digital diagnostic reports, traditional stores can no longer retain them through the current customer retention methods.
At present, the Xi'an automotive aftermarket is very lively under the competition between the "cat (Tmall AutoCare) and tiger (Tuhu)." Although their market share is not very high, e-commerce franchises are coming aggressively and pushing the market…
Challenges and opportunities as Buy Now, Pay Later shopping gains traction in Malaysia
Kuala Lumpur-based Lau Chi Yan, 33, bought an oven online using Grab’s Pay Later services when the ride-hailing and payment firm ran a cash rebate promotion in Malaysia in June.
As a new user, she received a rebate of 65 MYR ($15.34) with minimum spending of 150 MYR ($35.40), equivalent to a 43.33 percent discount on the product. This was her first time using Buy Now Pay Later (BNPL) service,…
Shippit’s ASEAN marketing lead on the importance of owned media and storytelling
Market expansion in ASEAN can be tricky, as each country has different norms and consumer behaviors. Shippit’s regional marketing rep Divya Saraf shares key findings.
The importance of offering strong shipping services in the e-commerce sector cannot be overstated, as consumers prioritize buying from merchants that provide speedy delivery. In Singapore, a study found that 90 percent of…
Singapore’s Parcel Perform bags $20M in Series A funding from Cambridge Capital, Softbank Ventures Asia
Singapore-headquartered cloud-based delivery platform Parcel Perform announced on Wednesday it has secured $20 million in Series A investments led by Cambridge Capital, a supply chain technology-focused global investment firm.
New investor SoftBank Ventures Asia, the corporate venture capital arm of Japan’s Softbank Group, has also joined the round alongside existing investors including…