Bezos-backed Ula to scale up ‘pay later’ options for underserved small retailers in Indonesia
Indonesia e-commerce startup Ula, which recently roped in Jeff Bezos’ Bezos Expeditions as an investor, is scaling up its pay later options to small retailers in the country, Southeast Asia's largest economy.
“Ula’s end goal is to reimagine retail in a way that modernizes the small store owner while preserving their cultural and economic advantages,” Ula Founder and Chief Executive Officer…
Credit Suisse recognizes AirAsia Digital as tech unicorn alongside Carsome, Axiata’s Edotco
Malaysia-based budget airline AirAsia’s transformation into a data and tech-driven travel and lifestyle group has been recognized as one of three ASEAN unicorns based in Malaysia by a recent Credit Suisse report alongside used-car platform Carsome and Axiata's telecommunications infrastructure unit Edotco.
The report highlighted how the digital economy benefited from structural and behavioral…
Bank Negara Malaysia working with ‘relevant authorities’ to address concerns over BNPL
Malaysia central bank said on Thursday it is working with relevant authorities and others to address growing concerns related to buy now, pay later (BNPL) schemes.
"While the BNPL schemes do not currently fall within the purview of Bank Negara Malaysia, we are working with the relevant authorities and others to address growing concerns that such schemes may encourage you to spend on borrowed…
My experience navigating the startup ecosystem in Southeast Asia amid the pandemic
A mantra I live by: The more uncertain the situation is, the more it creates new opportunities. With 14 years of industry experience on my back, my career journey has taught me to embrace volatility and uncertainty because it compels me to improve myself. Unpredictability keeps me on my toes and encourages me to come up with dynamic and creative solutions. More importantly, I believe this…
RHL Ventures’ Hibiscus Fund targets final close of up to $100M, eyes opportunities in food, healthcare & mobility sectors
RHL Ventures, which has been selected by the Malaysian government for its Dana Penjana Nasional (DPN) Program, has chosen three main themes for its Hibiscus Fund which is targeting a final close of up to $100 million, a top executive said.
The Hibiscus Fund is a venture capital fund managed by RHL Ventures and South Korea’s KB Investment Co Ltd., which forms part of the DPN program, an…
Philippines: Southeast Asia’s next big breakout market?
TechNode Global’s series on the Philippines will delve into why now, after years of depending on income from remittances, Filipino entrepreneurs and founders are attracting venture capital (VC) money in droves. In this first part, we briefly explain the key growth drivers and opportunities awaiting VCs in the country, while laying the groundwork for future articles which will feature the…
Malaysia-based PayHalal partners Atome to offer ‘Shariah-compliant’ BNPL options in Malaysia, Indonesia
Malaysia-based Shariah-compliant payment firm PayHalal announced that it has partnered Singapore-based buy now pay later (BNPL) platform Atome, to enable seamless Murabaha buy now pay later (iBNPL) acceptance across PayHalal’s merchant touchpoints first in Malaysia, before rolling out to Indonesia in the coming months.
The COVID-19 pandemic has accelerated the shift for Malaysian shoppers to…
Singapore-based Quincus raises Series B at over $100M valuation
Singapore-headquartered Quincus, an enterprise SaaS platform in solving global supply chain challenges, has announced Thursday that it has closed an undisclosed Series B fundraise.
The Series B investment catapults the company's valuation well over $100 million. The investment round is led by UP.Partners, a US-based electrification and mobility fund, with participation from existing investor…
Startup Studio Indonesia aims to incubate 150 startups by 2024
Indonesia’s tech startup ecosystem is vibrant as ever with the emergence of tech unicorns such as Bukalapak, the merged entity of Tokopedia and Gojek--GoTo--as well as Traveloka. The country's digital economy is worth $44 billion, the largest in the region, according to a report from Google, Singaporean state investor Temasek and global consultancy Bain.
The Indonesian Government has hoped to…
Vietnam loyalty platform Society Pass plans to list on Nasdaq
Vietnam-based data-driven loyalty platform Society Pass (SoPa), which recently closed a Series C funding round, has filed for an initial public offering (IPO) on the Nasdaq Stock Market.
The company is offering 2.9 million shares at a price range of $8 to $10. At the mid-range, this puts the IPO at around $26 million at a $188 million valuation.
It plans to list on the Nasdaq Stock Market…