Microsoft, Ant-backed Bukalapak share price jumps 25% on trading debut

Shares of Indonesian e-commerce firm Pt Bukalapak.com jumped almost 25 percent on its first day of trading on Friday after its shares were officially listed on the local stock exchange. Its share price surged 24.7 percent to trade at 1,060 rupiah ($0.074), up from its IPO price of 850 rupiah ($0.059). The increase also hit the upper limit at the bourse and the share price continued to stay at…

Open for Application: Life’s A Pitch! 16

Are you a startup based in Southeast Asia with an MVP and looking to fundraise from seed to post series-A round? We invite you to join us this year and get the right connections to propel your vision forward! Our panel of investors is from the region and has active funds as well as networks that can potentially help you grow and expand. Express your interest to pitch at Life's A Pitch! and we…

Indonesia BNPL firm Kredivo plans go public via via $2.5B SPAC merger

FinAccel, the parent of Indonesian digital consumer credit platform Kredivo, said it plans to go public through a merger with NASDAQ-listed VPC Impact Acquisition Holdings II (VPCB), a special purpose acquisition company (SPAC) sponsored by Victory Park Capital (VPC). FinAccel and the blank-check firm said they have entered into a definitive agreement for a business combination that will…

Vietnam’s Loship raises $12M in pre-Series C funding led by BAce Capital, Sun Hung Kai & Co

Vietnam one-hour delivery e-commerce startup Loship announced on Wednesday a $12 million pre-Series C funding round co-led by Ant Group-backed venture capital firm BAce Capital and the direct investment unit of Sun Hung Kai & Co Ltd (SHK & Co), an alternative investment company listed in Hong Kong. Other investors participating in the round include MetaPlanet Holdings, a Skype…

BigPay banks on AirAsia’s ecosystem, consortium’s banking expertise to vie for digital banking 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. Malaysia’s central bank Bank Negara Malaysia announced last month it has received 29 applications for digital banking licenses. A diverse range of parties has submitted applications for the digital bank license, ranging from banks, industry…

Consumers are spending with overseas retailers more now than ever

2020 was the year of the pandemic, and undoubtedly, the year of e-commerce. With the mobility restrictions, people were spending more time at home and turning to the Internet to meet more of their daily needs. The result of this massive digital adoption was the exponential growth of the Southeast Asia e-commerce market, which hit $62 billion last year, and is expected to continue in its growth…

Airwallex founders launch new venture capital fund Capital 49, aims to raise $200M

Global payments platform Airwallex announced on Thursday it plans to establish Capital 49, a new venture capital fund set up by Airwallex founders, that will invest into early-stage, high-growth technology-enabled companies powered by Airwallex’s infrastructure. The new fund aims to raise $200 million through the Airwallex founders and other investors, the company said in a statement. It…

Malaysia’s iStore iSend bags investment from Japan’s logistics giant Yamato Holdings

Malaysia homegrown e-fulfillment service company iStore iSend has announced that it has received a seven-figure investment from Kuroneko Innovation Fund, a corporate venture capital firm owned by Japanese logistics giant Yamato Holdings. The fund will be used for iStore iSend’s talent acquisition and improving its proprietary system to help the company in its plan for cross-border expansion,…

Where are we headed in this brave new world? Here’s a look into BCE (Before COVID Era) and CE (COVID Era)

We are close to 1.5 years into living with COVID-19, reacting to its multiple variants (alpha, beta, gamma, delta). The shifts in and out of lockdown across the world have been, at the very least, frustrating to individuals, communities, and businesses. But the whole point is probably for the global population to be able to toggle smoothly and efficiently between the two states - lockdown and…