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…
Malaysia-listed payment firm GHL teams up with BNPL startup Atome to expand across ASEAN
Malaysia-listed payment solutions firm GHL System Bhd has teamed up with Singapore-based Buy-Now-Pay-Later (BNPL) platform Atome to expand its payment offerings regionally across four countries--Malaysia, Thailand, Philippines, and Indonesia.
The group’s payment touchpoints across these countries will now be able to offer Buy-Now-Pay-Later (BNPL) payment options to consumers, following the…
How Carsome became Malaysia’s largest tech unicorn – with a little help from a friend
Gobi Partners’ continued faith and multiple investments into Carsome paved the way for the e-commerce platform to dominate Southeast Asia’s used car scene, en route to becoming Malaysia’s first and largest unicorn. TechNode Global spoke to Carsome Co-Founder and Group CEO Eric Cheng and Gobi Founding Partner Thomas G. Tsao to get the back story.
Think used cars, think dingy dealerships,…
Funding, talent & decision-making are the biggest challenges for innovators, says SoftBank Ventures Asia’s JP Lee [Q&A]
The new normal has been a driver of change for economies on a global scale, and this will be accelerated by a shift toward digital commerce, workplace digitalization, decentralization, and the rise of data and artificial intelligence.
SoftBank Ventures Asia, the global early-stage venture arm of the SoftBankGroup, fosters innovation in ICT and provides innovators with resources in addressing…
Thailand hobby-focused commerce startup Mercular extends Series A fundraise, ropes in Thai retail conglomerate Central Retail
Thailand-based hobby lifestyle community commerce platform Mercular announced on Monday it has raised and completed its series A fundraising exercise, raising a total of $4 million.
The same round is further participated by Thailand retail conglomerate Central Retail, Mercular said in a statement.
The initial investors include regional and local investment firms such as Kairous Capital,…
Singapore’s Sea aims to raise $6.3B in share & convertible bond sale
Singapore-headquartered e-commerce and gaming firm Sea Ltd plans to raise $6.3 billion in a share and convertible bond sale, the company announced on Thursday.
The US-listed tech company will sell 11 million American Depositary Receipts (ADRs), with the option of offering 1.65 million more, part of a greenshoe option, according to a statement.
Based on its closing share price on Wednesday…
Tackling the speed bumps on the road to electrification this World EV Day
World EV Day today (September 9) marks the celebration of EV ownership worldwide, as we collectively work towards a zero-emission future. Asia, as one of the fastest-growing regions where greenhouse gas emissions are rising rapidly, will have a critical role to play in the next decade ahead.
Yet, for many of us, September 9 is about a much-anticipated online shopping festival, which will see…
Malaysia SPAC AEI CapForce II Investment plans to raise $100M from IPO
Malaysia-based AEI CapForce II Investment Corp, a blank check company targeting opportunities in Greater China or Southeast Asia, has filed with the US Securities and Exchange Commission (SEC) on Tuesday to raise up to $100 million.
The company plans to raise $100 million by offering 10 million units at $10 on the Nasdaq Stock Market. Each unit consists of one share of common stock and…