Malaysia’s unicorn Carsome’s part of KAF-led consortium winning digital bank license
Southeast Asian used car marketplace Carsome is part of KAF Investment Bank's consortium which recently awarded a digital banking license in Malaysia.
"Yes, we are excited to confirm that Carsome is part of the consortium led by KAF Investment Bank which has received one of the first digital bank licenses in Malaysia granted by Bank Negara Malaysia (BNM)," Carsome investors' relations team…
Malaysia’s Carsome to list on NASDAQ at $2B valuation – report
Southeast Asian used car marketplace Carsome is said to be raising $300-400 million at a valuation of about $2 billion for its upcoming IPO on NASDAQ, DealStreetAsia reported on Tuesday, quoting sources.
Carsome, which is also Malaysia's first tech unicorn, is said to have confidentially filed for the IPO with NASDAQ. Carsome is also considering a dual listing at the Singapore Stock Exchange…
Consortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licenses
Editor’s note: MIDF is part of a consortium applied for a digital banking license.
Consortiums partnering with banks or financial institutions and e-wallet operators will have an upper hand in securing a digital banking license in Malaysia, according to analysts.
“Although it is not really a necessity, we believe that partnering with banks will give some benefits to the consortiums as…
Carsome completes acquisition of iCar Asia
Malaysia-headquartered integrated car e-commerce platform Carsome Group announced Thursday the acquisition of the remaining 80.1 percent stake in iCar Asia from the Catcha Group and other shareholders of iCar Asia, a listings and content automotive platform in Southeast Asia.
Carsome said in a statement that upon the completion of the acquisition, Carsome became the sole shareholder of iCar…
Malaysia unicorn Carsome raises $290M in Series E financing
Malaysia-based integrated car e-commerce platform Carsome Group announced Monday the completion of its $290 million Series E round, increasing the company’s valuation to approximately $1.7 billion.
This new financing further solidifies Carsome’s position as the leading integrated e-commerce auto platform in Southeast Asia, Carsome said in a statement.
According to the statement, the latest…
Malaysia’s MAVCAP launches two new tech-focused venture capital funds, targets total fund size of $35.83M
Malaysia’s venture capital firm Malaysia Venture Capital Management Berhad (MAVCAP) said Monday it successfully inked agreements to invest in technology startups via two new Venture Capital (VC) Funds, namely the Orbit Malaysia Fund I and the Ficus SEA Fund, with a total target fund size of 160 million MYR ($35.83 million) collectively.
The two VC Funds will provide equity funding to startups…
Chinese team wins Gordon Bell Prize for Simulation of Quantum Circuit
ACM, the Association for Computing Machinery, named a 14-member team, drawn from Chinese institutions, recipients of the 2021 ACM Gordon Bell Prize for their project, Closing the "Quantum Supremacy" Gap: Achieving Real-Time Simulation of a Random Quantum Circuit Using a New Sunway Supercomputer.
The members of the winning team are: Yong (Alexander) Liu, Xin (Lucy) Liu, Fang (Nancy) Li, Yuling…
Malaysia-based Solarvest launches startup program focusing on RE, green tech, FinTech
Malaysia-listed solar energy firm Solarvest Holdings Bhd has on Monday launched Solarvest Innovation Lab 2021 (SIL 2021), a start-up program to spur innovation and entrepreneurship developments in Malaysia with particular emphasis on renewable energy (RE), green technology (green-tech), and financial technology (FinTech).
“Through SIL 2021, we are excited to unearth like-minded start-ups with…
Unicorns-in-the-making: The underrated, untapped, and unknown of Malaysia’s tech ecosystem
So much has been said and written about the vast potential of the Malaysian tech ecosystem--and for all the right reasons.
Within ASEAN, Malaysia was one of the first countries to invest in the Digital Economy with the establishment of multiple government agencies, seeding policies, industry blueprints, and development acceleration programs. Coupled with its multicultural society, ease of…
Consortiums and companies submit Malaysia digital banking license bids as deadline looms close, including Grab-Singtel venture
Several groups said they submitted bids for digital banking licenses in Malaysia as companies, including a property developer, media company, and credit services firm, which joined forces to apply for the sought-after licenses.
The race for the five digital banking licenses heats up further as more consortiums and companies announced their application, including ride-hailing giant Grab-Singtel…