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Thailand’s fintech startup Ascend Money lands $150M at a $1.5B valuation

TechCrunch

Ascend Money will use the proceeds to grow its e-wallet application – TrueMoney Wallet – and expand its digital financial services ranging from digital lending and digital investment to cross border remittances in Southeast Asia. About 70% came from Thailand while 30% came from the international market, the co-President Thamavaranukupt said.

Money 103
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Tencent leads $100M Series B funding round into China-based esport provider VSPN

TechCrunch

The funding round will go toward improving esports products and its ecosystem in China and across Asia. Founded in 2016 and headquartered in Shanghai, VSPN was one of the early pioneers in esports tournament organization and content creation out of Asia. It has since expanded into other businesses, including offline venue operation.

China 108
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Korean handmade goods marketplace Backpackr gears up to expand into Southeast Asia

TechCrunch

About a decade ago, Donghwan Kim helped his cousin, a ceramist, look for sales channels, like flea markets, to sell his ceramics. Returning investor Altos Ventures led the extension along with Stone Bridge and new investors Axiom Asia and Vanderbilt University. . Other countries like Japan and the U.S.

Asia 59
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Summer International uses social media data to launch new beauty brands

TechCrunch

We have our own supply chain and we have the power to distribute brands across Asia via our social commerce and live distribution platforms. Summer International’s live commerce distribution network helps it understand what brands and products consumers from different parts of Southeast Asia want to buy.

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Tiger Global backs SaaS omnichannel social commerce platform SleekFlow in $8M funding

TechCrunch

The Hong Kong-headquartered startup will use the fresh capital for its market penetration into Southeast Asia, specifically Singapore and Malaysia, as well as the U.K. and other countries in Europe. The global social commerce market is projected to rise to $6.2 trillion by 2030. “Eight in 10 U.S.

Global 86
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TipTip uses a hyperlocal strategy to help Southeast Asian creators monetize

TechCrunch

There are a lot of talented people, like chefs and musicians, in Southeast Asia who can earn money through their work online, says TipTip founder Albert Lucius. TipTip wants to help them build up followers in their communities using an offline/online strategy, and monetize by selling content instead of relying on advertising algorithms.

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Payfazz invests $30M in Xfers as the two Southeast Asian fintechs form Fazz Financial Group

TechCrunch

Payfazz and Xfers , two startups that want to increase financial inclusion in Southeast Asia, announced today they have joined forces to create a new holding entity called Fazz Financial Group. Customers deposit cash with agents, and that balance can used to pay phone, electricity and other bills. ” Singapore-based Xfers Lands $2.5M

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