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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. The startup has closed three funding rounds of Series B within the past six months, bringing the company’s total raised to over $70 million.
The arc of success for digital fundraising has just begun. Second, the popularity of social networking is steady and continues to spread globally, but messaging apps such as WhatsApp, LINE, and Snapchat are emerging as powerful digital communities. of all revenue raised in 2016. Source: 2017 Charity Digital Skills Report.
The Seoul-based startup announced today it has raised a $60 million Series B. The round was led by Hanhwa Investment & Securities, with participation from SoftBank Ventures Asia (the early-stage venture capital arm of SoftBank Group), SK Networks, Aarden Partners and other strategic partners.
Today Carsome Group , one of the region’s largest online used car marketplaces, said it plans to acquire listings platform iCar Asia in a transaction worth more than $200 million. of iCar Asia from Malaysia internet conglomerate Catcha Group. The roadmap to startup consolidation in Southeast Asia is becoming clearer.
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.
Southeast Asia is hitting a sweet spot. By late 2021, approximately 80% of the Southeast Asian population (aged 15 and above) will be digital consumers, according to a report by Facebook and Bain & Company. However, these companies only represent the highlights of what is a blossoming startup ecosystem.
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. In total, Alerzo has raised more than $20 million since its launch. Omnibiz gets $3M to digitize Nigeria’s informal B2B supply chain.
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. Voyager’s total raised since 2018 now stands at $452 million. valuation.
Easy Eat AI , a Singapore-based startup that wants to “transform restaurants into technology companies,” announced today it has raised $5 million in funding. Many food and beverage businesses started digitizing orders and payments so they could offer deliveries during the COVID-19 pandemic.
AppWorks , the Taipei-based venture capital firm focused on Taiwan and Southeast Asia, announced today it has closed its oversubscribed third fund, raising $150 million. As part of Fund III’s close, AppWorks is recruiting new investment associates and analysts, especially ones who will focus on sourcing deals throughout Southeast Asia.
Igloo , a Singapore-based insurtech focused on underserved communities in Southeast Asia, announced it has raised a Series B extension of $27 million, bringing the round’s total to $46 million. Igloo currently works with 20 global, regional and local insurers across Southeast Asia.
The Singapore-based fintech, which enables cross-border payments in more than 170 markets, announced today that it has raised $16.9 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 firm’s comprehensive “Southeast Asia Exit Landscape Report 2.0,” is a followup to a previous report published in 2019. There was a lot of pickup on the digital healthcare side as well.”. Southeast Asia’s startup ecosystem was not immune, and had less exits, but it still did relatively well, with $8.2
Singapore-based TreeDots , which says it is the first food surplus marketplace in Asia, wants to help. TreeDots announced today that it has raised an $11 million Series A led by Amasia and East Ventures, with participation from investors including Active Fund, Seeds Capital, author Nir Eyal and actress Fiona Xie.
In 2020, startups in the region raised over $8.2 This begs the question: Who exactly is investing in Southeast Asia? Let’s explore the three key types of investors pouring money into and driving the growth of Southeast Asia’s tech ecosystem. Southeast Asia has become an attractive market for U.S. and Chinese tech firms.
Now Thoughtfull , another digital mental health platform focused on Asia, has raised $4 million in a pre-Series A round led by Sheares Healthcare Group. TechCrunch last covered Thoughtfull in October 2021 when it raised its seed round. Thoughtfull marks Sheares’ first investment in mental healthcare in Asia.
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. This brings its total raised to $43 million, including the oversubscribed first tranche of its Series B, which was led by Tiger Global and closed in January 2022.
A startup that is aiming to digitize millions of neighborhood stores in Bangladesh just raised the country’s largest Series A financing round. Dhaka-headquartered ShopUp said on Tuesday it has raised $22.5 ShopUp has raised about $28 million to date. There are about 4.5 ShopUp is attempting to change that.
With Southeast Asia’s joint fund, Kejora-Intervest Growth Fund also joined in the round, it is a sign that H2O Hospitality will be focusing specifically on the Southeast Asian Market. H2O Hospitality has raised $7 million Series B round from Samsung Ventures, Stonebridge Ventures, IMM Investment and Shinhan Capital in February 2020.
The company announced today it has raised a $5.15 million USD) Series A led by East Ventures for product development and to expand in Southeast Asia. The new round brings Smarter Health’s total raised to $8 million SGD. million SGD (about $3.8 Other investors included Orbit Malaysia, Citrine Capital, HMI Group and Emtek.
Increased access to online and mobile giving technology in Africa, Asia, and South America will likely grow these numbers significantly in coming years. Together, digital communications inspire 74% of donors to give. 16) Asian donors are primarily driven by digital communications. View: Giving Trends in Asia Data Sheet.
Founded in 2019, the startup announced today it has raised $8.5 Komunal digitizes rural banks, called BPRs (Bank Perkreditan Rakyat) through its DepositoBPR platform, which lets users make deposits and apply for loans digitally without needing to visit their bank’s physical location. Komunal raises $8.5M
Logisly , a Jakarta-based startup that describes itself as a “B2B tech-enabled logistics platform,” announced today it has raised $6 million in Series A funding to help streamline logistics in Indonesia. This brings the total Logisly has raised since it was founded last year to $7 million.
Voyager Innovations , the owner of Philippines’ payment and financial services app PayMaya and neobank Maya Bank, announced today it has raised $210 million, bringing its valuation to $1.4 Voyager’s last round of funding was in July 2021 , when it raised $167 million in preparation for launching its neobank.
Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. The $170 million raised so far came from mainly Chinese investors who have collectively begun to bet big on African startups over the past few years. OPay plays in an extremely competitive fintech market.
Founded by two insurance industry veterans, Eazy Digital wants to give small insurance companies in Southeast Asia the same advantage as their larger competitors. Its SaaS platform lets insurers digitize many parts of their operations, enabling them to scale up more efficiently.
One of them was Singapore-based Endowus , which raised two rounds in rapid succession: a Series A in June 2021 followed just seven months later by $25.6 This time it’s $35 million with new investors, including Citi Ventures and MUFG Innovation Partners, bringing the company’s total raised so far to $95 million.
Financial services, especially those for people who don’t have access to traditional bank accounts or lines of credit, are proliferating in Southeast Asia. The startup announced today it has raised a seed extension of $1.5 The funding brings Jeff’s total raised to about $2.5 million, led by J12 Ventures.
Founded in Singapore and Manila by Robertz, fellow Zalora alumni Jannis Dargel and former Grab lead product manager of maps Shrey Jain, Locad announced today it has raised $11 million in Series A funding led by Reefknot Investments , a joint venture between Temasek and logistics company Kuehne + Nagel. million seed round in 2021.
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
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. The Electronic Frontier Foundation is the leading nonprofit organization defending civil liberties in the digital world. Perfect gifts for the nonprofit techie!
Homebase , a Ho Chi Minh City-based proptech startup that helps people buy homes, announced today it has raised $30 million in equity and debt (the ratio was undisclosed). We’re thinking of how do you make the experience of buying a home or investing a one-stop shop where you can do everything digitally.”.
Today the Hong Kong and Malaysia-headquartered startup announced it has raised $23 million in Series B funding to scale its team and product. million Series A announced 10 months ago, and its new round brings its total raised to more than $35 million since 2020. WATI’s last round of funding was an $8.3
A Manila-headquartered startup called CloudEats , which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia. . The cloud kitchen market in Asia is projected to grow at 14.2% billion in 2021.
Pula , a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million. Likewise, the Kenyan startup hopes to propel its expansion for smallholder farmers in Asia and Latin America.
Una Brands , the e-commerce aggregator focused on Asia-Pacific brands, announced today it has raised $15 million for its Series A. Besides raising equity, Una also extended its debt facility size from Claret Capital. “We Una Brands launches with $40M to roll up brands on multiple Asia-Pacific e-commerce platforms.
Mercuryo , a startup that has built a cross-border payments network, has raised $7.5 The London-based company describes itself as “a crypto infrastructure company” that aims to make blockchain useful for businesses via its “digital asset payment gateway.” It also plans to “gradually” expand to Africa, South America and Southeast Asia.
The Singapore-based startup announced today it has raised $6.6 million in pre-Series B funding, led by Headline Asia. The new funding will be used to grow its customer base in Singapore, Vietnam and Indonesia, and expand into new markets in Southeast Asia, like Malaysia, the Philippines and Thailand.
According to Nikkei Asia, Intel plans to raise prices on flagship products such as consumer and server CPUs, Wi-Fi chips, and controllers this autumn. It's expected that the hikes will vary based on the item, ranging from single-digit increases all the way up to 20%.
” Born and raised in the United States, Sinha moved to Bangladesh in 2015 to start working on Praava. Today the company is announcing a Series A Prime round that brings its total raised to $10.6 Maya, a startup focused on accessible healthcare in Asia, raises $2.2 million seed for regional expansion.
Based in Singapore, ZEBOX Asia will also look at markets like Indonesia, Malaysia, Taiwan, Japan and Korea. Additionally, the city state’s strategic location at the crossroads of major shipping lines and air routes connects large parts of Asia to the rest of the world, making it a global logistics hub,” he added.
Investment apps in Southeast Asia are attracting a lot of funding, and now some are raising fast follow-on rounds, too. For example, Indonesian robo-advisor app Bibit raised $65 million in May just four months after a $30 million growth round. This brings Syfe’s total raised so far to $52.4 Syfe founder Dhruv Arora.
The digital asset space is still trucking along, while there were some big headlines, the week was arguably a little less chaotic (for now). Follow the money BitGo raised $100 million in its Series C round at $1.75 Follow the money BitGo raised $100 million in its Series C round at $1.75 PT, subscribe here.
Fireblocks , an infrastructure provider for digital assets, has raised $310 million in a Series D round of funding that tripled the company’s valuation to $2.2 In February, the New York-based startup raised $133 million in a Series C round at a $700 million valuation. billion in just over five months.
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