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Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. Fuse uses mobile applications to offer an agent-focused service, B2A (Business to Agent/ Broker).
According to Etienne Ng, Regional Director of Southeast Asia at Weixin Pay, Tencent, the effort began roughly two years ago, around 2023, with a partnership between Weixin Pay and the Singapore Tourism Board as China began reopening after the COVID-19 pandemic.
This is good news for payment service operators, but the market is very fragmented, so adding payment options is a time-consuming process for many merchants. “CHAI is a late comer to Korea’s digital payments market, but we saw a unique opportunity to offer value,” said Shin. ”
The rise in open banking and payment services like India’s UPI and Singapore’s PayNow means lower costs for businesses, as well as new payment options for hundreds of millions of customers in emerging markets who don’t own credit cards. million in Series A funding led by Sequoia Capital Southeast Asia.
3) Animals Asia Shop :: shop.animalsasia.org. Proceeds benefit Animals Asia work to end bear bile farming and improving the welfare of animals in China and Vietnam. 15) Little Market :: thelittlemarket.com. 30) UNICEF Market :: market.unicefusa.org. 20% of profits are microloaned to farmers and small business owners.
Singapore-based TreeDots , which says it is the first food surplus marketplace in Asia, wants to help. TreeDots was founded in 2017 as a surplus food marketplace for F&B businesses, before it expanded its business to include social commerce, too. About one-third of food produced in the world is never eaten.
Jia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 The fintech plans to use the funding to double down on its operations in Kenya, and the Philippines, before exploring new markets in West Africa, Latin America, and Asia.
ByteDance’s TikTok wants to do more business in Indonesia — Southeast Asia’s biggest e-commerce market. So after facing roadblocks from the regulators, it’s now come up with a new route to get there. TikTok is putting up $1.5
Undergirding their strong conviction is a bet that India and Indonesia and other markets in South Asia will double and triple their GDPs in the next 10 to 15 years, and the public markets and tech companies stand to take a significantly broader role in that surge. The combined market cap of top-five tech companies in the U.S.
Tech layoffs have hit almost every region in the world , and Southeast Asia is no exception , with companies like Sea , Crypto.com and JD.ID In particular, fintech startups—BNPL, credit and lending, and inventory-holding businesses—are vulnerable, like i n other parts of the world. among those affected. It’s a correction in general.
Focused on Southeast Asia, Ayoconnect ’s APIs make it faster for businesses to launch new financial services, instead of needing to build their own tech infrastructure. Furthermore, Rost added, consumer-facing businesses in Indonesia don’t have the digital financial infrastructure to manage their own finances while serving customers.
Based in Singapore, it is currently active there and in Indonesia, and plans to roll out in other Southeast Asian markets after localizing for employment regulations. Localizing for each market can be quite complicated. Indonesia is one of the biggest, and rapidly growing, market opportunities in Southeast Asia.”.
3) Animals Asia Shop :: shop.animalsasia.org. Proceeds benefit Animals Asia work to end bear bile farming and improving the welfare of animals in China and Vietnam. 24) UNICEF Market :: market.unicefusa.org. 20% of profits are microloaned to farmers and small business owners. 11) MoMa Design Store :: store.moma.org.
Sun King, a provider of off-grid solar energy products in Africa and Asia, has secured a $70 million equity investment led by LeapFrog Investments. Direct-to-consumer, pay-as-you-go (PAYG) solar distribution networks are offered by businesses like Sun King, enabling households and individuals to get electricity on the cheap.
Moove, which deals with new cars, is a flexible option for these drivers who want to get into the business of ride-hailing without having to borrow from car owners or taking bank loans to finance cars bought from dealerships. So we’re still a young business. It is a problem faced across many emerging markets.
There are multiple messaging apps active in Southeast Asia and most consumers prefer to use them over email when they contact a business. Respond.io’s dashboard, which processes over 140 million messages per month, consolidates all the messages a business gets, so the right person can see them. Respond.io Respond.io
SumUp , a London-based startup that helps businesses power revenues through card payments — by way of physical readers, online payments, invoices and other services — is itself powering up in a big way. Over the years, SumUp has picked up a number of other startups to expand the services that it offers, as well as its markets.
During that time, Chen says they realized that the marketing, sales and design process have stayed the same, despite new technology and tools being introduced to the market, and is often riddled with bottlenecks. Chen says most have large sales and marketing teams, but a shortage of designers.
Based in Singapore, ZEBOX Asia will also look at markets like Indonesia, Malaysia, Taiwan, Japan and Korea. ZEBOX CEO Gwen Salley told TechCrunch that along with access to mentoring, experts, business opportunities and funding, its incubator program gives startups opportunities to test their solutions and work with large corporations.
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. We’re really looking to diversify holdings, leveraging learnings from one market to another,” said Sosrodjojo.
Rali_cap , an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. The two-year-old VC fund invests in B2B and API-first fintechs across Africa, Latin America and South Asia at pre-seed and seed stages. About 40% are based in the U.S.,
AnyMind acquired ENGAWA, a Japan-based cross-border marketing company, in January last year with its Series C proceeds. Founded in 2016 in Singapore, AnyMind expanded into Southeast Asia, East Asia, India and the Middle East through aggressive acquisitions. Mizuho Bank provided the debt facility. ”
million in seed funding, money it plans to use for expansion across South Asia, Southeast Asia and the MENA region. . CEO Aahan Bhojani and Ashmin Varma founded Silkhaus last year after identifying a $13 billion market opportunity for asset owners across emerging markets, particularly MENA, South Asia and Southeast Asia.
The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. Europe and Asia, including Michael Novogratz’s, participated in the round. Alerzo claims to have built up a network of up to 100,000 small businesses, 90% of which are women-led. The company is announcing a $10.5
Lilt , a provider of AI-powered business translation software, today announced that it raised $55 million in a Series C round led by Four Rivers, joined by new investors Sorenson Capital, CLEAR Ventures and Wipro Ventures. “This new funding will … [reduce our] unit economics [to make] translation more affordable for all businesses. .
Socar , South Korea’s largest car-sharing startup, tumbled in its Seoul stock market debut Monday even after pricing shares below the bottom end of a marketed range. Socar’s debut comes amid a sluggish period in the IPO market in South Korea that has prompted a series of Korean companies to delay their listing plans.
that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 Globally, hundreds have sprung forth the past few years to challenge incumbents in their respective markets. In November 2021, Fintech Farm launched in its first market, Azerbaijan. million in seed funding.
Since the onset of the pandemic, Stripe observed that fraud rates at businesses in Latin America were 97% higher than in North America and 222% higher than businesses in the Asia Pacific. market, it might seem impossible for a payment orchestration startup to succeed in the fragmented markets of Latin America.
Pakistan-based fintech platform, NayaPay , has raised $13 million in a seed round to rollout its multi-service messaging and payment app, and to build payment acceptance and financial management tools for businesses in the South Asian country. About 100 million people are unbanked in Pakistan, according to this World Bank report.
TPG invested in the startup through its TPG Capital Asia, its Asia-focused private equity platform. “Our clients are all looking to digitize their businesses and offer more personalized solutions to their customers,” he said. helps firms improve investment decisions, Eugenie.ai
One Impression, an Indian influencer marketing platform that does business in markets including Indonesia, Dubai, Europe and the U.S., The Gurugram-based startup is building an Amazon-like platform to help brands quickly find relevant influencers for their marketing campaigns.
Darwinbox, which operates a cloud-based human resource management platform, has raised $15 million in a new financing round as the Indian startup looks to further expand in the country and Southeast Asian markets. This is one of Salesforce Ventures’ rare investments in Asia. Image Credits: Darwinbox.
WhatsApp is used by more than two billion around the world, and is an important tool for many small businesses. But as they scale up, even WhatsApp for Business might not be able to keep up with their needs. Built on WhatsApp for Business’ API, WATI has customer sales and engagement tools created for the messaging app.
This is part of a strategic investment, with startup and MUFG planning to expand into new markets and product together in 2023. Its focus on Southeast Asia comes as homegrown banks, like Singapore’s DBS Group Holdings and Indonesia’s Bank Central Asia gain on MUFG in market cap.
The funding was led by Asia private equity firm TGVest Capital. “We We plan to use the new funding to double down on expanding our footprint in key markets, including Taiwan, Japan, Hong Kong, Korea and Asia,” founder and CEO Ming Chen told TechCrunch. “In In Japan alone, we added 35,000 new activities.”.
million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. Bfree is now on a massive recruitment drive for the 16 new markets in which it is setting up operations, including Ghana, India, Uganda, Brazil, Colombia, Mexico, Russia, Poland, Pakistan and Indonesia.
Skit announced today it has closed $23 million Series B round to accelerate its growth in domestic and global markets including the US and South East Asia and enhance its voice automation platform. We want to double down and scale operations in both Indian and global markets. It currently has 150 employees.
Jenfi , a “growth-capital-as-a-service” platform, can provide online businesses with revenue-based financing in a little as a day. million in pre-Series B funding, led by Headline Asia. This lets Jenfi continuously monitor its borrowers’ business activity, including revenue growth and marketing return on investment.
Xendit , a payments infrastructure platform for Southeast Asia, has raised $300 million in fresh funding. Part of the funding will be used to expand into new markets, like Thailand, Malaysia and Vietnam. builds everything around credit cards, you just cannot do that in Southeast Asia.
Sam Horbye previously spent years working at Amazon, including building and managing the company’s business marketplace (the B2B version of the consumer marketplace); while co-founder Ollie Horbye had years of experience in strategic consulting and financial services. “It’s flying under the radar,” Ollie said.
The company’s business model is similar to Divvy Homes and ZeroDown in the United States and, in fact, Divvy Homes co-founder and former CEO Brian Ma and Zerodown chief operating officer Troy Steckenrider III are investors in Homebase.
JUMO , a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by Fidelity Management & Research Company. So far, JUMO has served loans worth over $3.5
The economy may be showing many signs of contraction right now, but many companies still need to do business internationally. Jack Zhang — Airwallex’s CEO who co-founded the company with Xijing Dai, Lucy Liu and Max Li — told TechCrunch that business has been on the up in the last year.
In Japan, where the real estate market is fragmented, homeowners have faced uncertain selling prices riddled with brokerage fees and an average selling period of between four and eight months, Ito said. “The difference is that we purchase from the seller at a discount from the market price. . and the U.K., While the U.S.
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