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Zipmex , a digital assets exchange headquartered in Singapore, announced today it has raised $6 million in funding led by Jump Capital. The startup, which plans to become a digital assets bank, says the round exceeded its initial target of $4 million. Along with earlier funding, it brings the total Zipmex has raised so far to $10.9
Music licensing marketplace Songtradr this morning announced a $50 million Series D. The platform licenses music to high-profile names for advertising, films, TV, gaming and the like, including Disney, Netflix, Apple, Coca-Cola, Amazon and Google. Image Credits: Songtradr.
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. It is also licensed by Indonesia’s central bank, enabling it to offer more services.
million in Series A funding led by Sequoia Capital Southeast Asia. It is also partnered with Standard Chartered, the British multinational bank, to offer digital escrow services. The funding will be used to scale Tazapay’s business in Asia and expand in regions like the Middle East and Europe.
However , there’s little noise about the corridors between Africa and other regions like Latin America or Asia. Wapi Pay , a Kenyan startup with offices in China and Singapore, is carrying out this play and has carved a market for itself by facilitating payments between both extreme remittance worlds of Africa and Asia.
Voyager Innovations , the Manila-based owner of PayMaya , one of the Philippines’ most popular payment and financial services apps, announced today it has raised $167 million in new funding to launch more financial services, including a digital bank. The fintech endgame: New supercompanies combine the best of software and financials.
The onset of the pandemic has led to increased demand for digital banking options across customer income groups around the world. We’ve seen how digital banks like Zolve and Nubank have raised money in recent months to fill this need. TymeBank , a South African digital bank, announced today that it has secured an R1.6
The round was led by SIG Venture Capital, and included participation from EDBI and First Pacific Company, as well as returning shareholders PLDT, KKR, Tencent, International Finance Corporation and IFC Emerging Asia Fund and IFC Financial Institutions Growth Fund. . Investors are doubling down on Southeast Asia’s digital economy.
Lakhani said that NayaPay is leading a digital payment revolution in Pakistan , a cash-heavy economy, where only 1% of $4 trillion payments are done electronically. NayaPay has already acquired the requisite authorizations including the E-Money Institution license from the State Bank of Pakistan.
The company’s simple pitch — Bill.com for Southeast Asia — fit neatly into the broader narrative of the world increasingly digitizing its workflows and the generally hot market we’d seen for fintech companies. The CFO suite used to be a Microsoft Office license, I suppose. Things have changed.
The round, which marks the Fund’s first investment in an African startup, drew participation from existing investors like Sequoia Capital China, Redpoint China, Source Code Capital, and Softbank Ventures Asia. Other investors, including DragonBall Capital and 3W Capital, also took part in the new financing round. valuation.
Furthermore, being in the EU is going to be a key barrier to entry for many US or Asia-based operations. Thus it is that Berlin-based digital asset custody and financial services platform. Finoa is bridging this gap by providing seamless, safe, and regulated access to the world of digital assets.”
Financial services, especially those for people who don’t have access to traditional bank accounts or lines of credit, are proliferating in Southeast Asia. Jeff raises $1M to build alternative credit scoring and other fintech products for Southeast Asia. It also plans to enter the Philippines in the third quarter.
It currently operates across the Asia-Pacific region, including Sinagpore, Hong Kong and Australia, and offers its services in 16 languages. While mental health startups have gained a lot funding in the United States, especially during the pandemic , it is still a nascent space in much of Asia. ThoughtFull gets $1.1M
While Waresix’s platform digitizes all parts of the supply and logistics chain, its current focus is on mid-mile logistics services, or transportation from warehouses to distributors. to advance its push to digitize logistics in Indonesia. Waresix hauls in $14.5M
Some of them include SoftBank, Sequoia Capital China, IDG Capital, SoftBank Ventures Asia, GSR Ventures, Source Code Capital. Last year, the company also said it acquired an international money transfer license with a WorldRemit partnership also in the works. OPay plays in an extremely competitive fintech market.
Social security, drivers license, PIN and… domain names? Who would have thought, say 20 years ago, that a defining name, marked with at least two periods and three W’s would be defining characteristic of our digital profiles? Another common scam in world of domains is coming out of Asia, mainly from China. Protect thy name.
.” FairMoney, founded by Laurin Hainy , Matthieu Gendreau and Nicolas Berthozat , is a licensed online lender that provides instant loans and bill payments to underserved consumers in emerging markets. But compared with traditional banks, it was the seventh-largest digital financial services provider in that area.
UTEC currently has about $780 million in total assets under management, and says this makes it one of the largest venture capital funds focused on science and tech in Japan, and one of the largest deep-tech funds in Asia. UTEC is an independent firm that works closely with universities. So far, 25 of its investments have exited.
They join previous local investors like GB Capital, DPI, Algebra Ventures, Wamda, Egypt Ventures, Shaka VC, Nowaisi Capital, Unidelta, Battery Road Digital Holdings that have backed the company in the past. . We are at the forefront of the digital revolution sweeping across Egypt, bringing together the unbanked population with our technology.
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. Payfazz uses payment infrastructure developed by Xfers to accept digital payments. ” Singapore-based Xfers Lands $2.5M
that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 Digital banks, neobanks, challenger banks or whatever you may call them, are among the biggest recipients of VC investments in fintech. Right now, the company says it has gotten a “co-operative license.” million in seed funding.
Owing to COVID, the strong growth in digitization has helped Neem embed its finance services across private and public sectors. The seed funding, which the startup aims to use to expand its existing team of 20 people, roll out the BaaS platform and capitalize licenses, was led by Hong Kong-based SparkLabs Fintech.
Investment apps in Southeast Asia are attracting a lot of funding, and now some are raising fast follow-on rounds, too. The app currently has users in 42 countries, but only actively markets in Singapore, where it holds a Capital Markets Services license from the Monetary Authority of Singapore (MAS). Syfe founder Dhruv Arora.
Small businesses are the backbone of Southeast Asia’s economy, but many struggle to secure working capital loans because they don’t have traditional credit records or collateral, say the founders of Funding Societies. It is now licensed and registered in Singapore, Indonesia (where it is known as Modalku), Malaysia and Thailand.
DeepSeek#1 on our list of the most innovative companies in Asia-Pacific trained state-of-the-art models at far lower cost and with far less GPU power than anyone thought possible. Microsoft released the model under an open-source and open-weights license, so developers can use it to develop edge models or apps that run on phones or laptops.
Existing backer Bain Capital led the extension, with participation from previous investors such as Access Ventures, CLSA Capital Partners Lending Ark Asia, D3 Jubilee Partners, 500 Global, Kakao Investment, TBT Partners and IBX Partners. The additional funding brings PeopleFund’s total raised to around $100 million in equity.
The funding will also be used to apply for regulatory licenses to ensure strict compliance to the relevant anti-money laundering (AML) and counter the financing of terrorism (CFT) requirements.
Several startups including Slice, Jupiter, Uni and KreditBee have long used the PPI licenses to issue cards and then equip them with credit lines. “Some people are speculating that when the PPI licenses were given, RBI was clear that they are not given as credit instruments.
Thanks to this multi-year partnership, Sorare will launch an officially licensed NFT-based fantasy basketball game this fall. Like other Sorare games, players will be able to buy and sell digital cards representing basketball players. Right now, Sorare has two million registered users but most of them are based in Europe and Asia.
Returning investors in the round include CLSA Lending Ark Asia and 500 Global. In early June, only three Korean P2P lenders out of 41 applicants were granted licenses from the FSC to operate the business legally: PeopleFund, Lendit and 8 Percent. million (75.9 The latest funding brings the total raised by PeopleFund to about $83.6
But that’s not where the problem starts and ends: the explosion of digital content has also led to a wide number of digital counterfeiters as well. Image Credits: MarqVision (opens in a new window) under a license. It says that its tech is already leading to more than 20,000 enforcements weekly.
Data has emerged as one of the world’s greatest resources , underpinning everything from video-recommendation engines and digital banking , to the burgeoning AI revolution. The duo have built a distributed team of 10 across Asia and Eastern Europe as they gear up to expand beyond the product’s current source available (i.e.
It will also be continuing to add more countries to its international footprint, with its next launches expected in Southeast Asia. It plans to add to that list with its next markets in Southeast Asia, Jangid confirmed. These will include more financing options and centers for servicing vehicles before and after purchase. Jangid said.
Runa Capital’s Asia business development manager Denis Kalinin studied data from iTjuzi, a database of Chinese venture capitalists, and found: “…Chinese funds invested around $250 billion in 2020 (three times higher than the figure reported in Crunchbase). ” Is it so bad to take money from Chinese venture funds?
BharatPe, which counts Coatue, Ribbit Capital and Sequoia Capital India among its existing investors, operates an eponymous service to help offline merchants accept digital payments and secure working capital. Centrum Financial Services has collaborated with BharatPe for the license, and the Indian startup says the two are “equal” partners.).
The startup, which has also expanded to Southeast Asia and the Middle East in recent years, has amassed over 4,000 customers, some of which it gained after its recent acquisitions of cloud center platform Ameyo and conversational AI startup Cogno AI. . Practically everyone in India is our customer,” he said.
Pintu is the latest investment app in Southeast Asia to quickly raise a much larger follow-on round as interest in retail investing grows. Crypto came in third after mutual funds and digital gold, and before stocks at number four. Other examples include Bibit , Ajaib and Syfe. million public equity investors in the country.
Medigo’s app connects users to nearby licenses pharmacies and delivers medicine within 20 minutes. In a statement about the investment, East Ventures managing partner Koh Wai Kit said, “Digital technologies can improve the accessibility and affordability of good quality healthcare.
SmartBank wants to enable anyone to manage finance, “from everyday spending to planning for the future” by offering its digital finance management service B/43, which is a Visa prepaid card and personal finance management app. However, we do not operate under a banking license and leveraging the fund transfer license.
“We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies,” said Crypto.com co-founder and chief executive officer Kris Marszalek. .
The startup offers an in-house team of licensed professionals who offer more than 100 portfolios of stocks and exchange-traded funds, as well as provides its users access to independent investment managers, brokerages and wealth platforms. “We The e-commerce firm, which has deployed over $6.5
Southeast Asia is already home to a thriving fintech scene, where Grab , GoTo and Sea have built super apps that encompass financial services, and startups like Xendit , Akulaku and Dana (to name a few) have raised hundreds of millions of dollars for payments, banking services and other financial tools. Indonesia emerged as the best choice.
With fragmented and unresolved distribution and digital payments ecosystems, game studios have found it difficult to serve African consumers and make a ton of money doing so. It also handles localization, distribution, user acquisition, monetization, customer experience for studios and licenses their games on exclusive, long-term contracts.
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