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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.
HR tech platform Darwinbox has more than tripled its valuation to become a unicorn in a new $72 million funding round as the Indian startup leads what an investor calls the “SaaSification of Asia” trend. The new funding follows a year of strong growth for Darwinbox. I am a strong believer in the SaaSification of 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. 100% of profits help fund Surfrider’s mission to protect the world’s ocean, waves and beaches.
Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. The new financing also comes two years after OPay announced two funding rounds in 2019 — $50 million in June and a $120 million Series B in November.
However , some venture firms have taken this up a notch by bringing founders to create a fund and invest together. Since the firm’s first fund launched in 2017, MAGIC has invested in 70 companies at pre-seed and seed stages across these emerging markets. MAGIC Fund has 12 founders who act as general partners.
Rali_cap , an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite.
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. One difference between SIV II and the first fund is that it can writer bigger checks.
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. It brings CHAI’s total funding to $75 million, including a $15 million Series A in February. The Seoul-based startup announced today it has raised a $60 million Series B.
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.
The Series D funding, which brings its total funding to date to approximately $91.7 AnyMind acquired ENGAWA, a Japan-based cross-border marketing company, in January last year with its Series C proceeds. AnyMind operates 17 offices across 13 markets with more than 1,000 employees. million, consists of ¥4 billion (29.4
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. 100% of profits help fund Surfrider’s mission to protect the world’s ocean, waves and beaches. 24) UNICEF Market :: market.unicefusa.org.
Mental health startup Intellect ’s ambitious goal is to be available across the Asia-Pacific, but ensure localized, culturally-competent care in each of the many markets it serves. Intellect describes this as “the largest venture round raised by any mental health company in Asia.” Intellect’s platform has two components.
The Singapore-based cybersecurity startup announced today it has raised $6 million in seed funding from Sequoia Capital Southeast Asia, which it will use on R&D engineering and its go-to-market plans. SquareX’s go-to-market strategy will focus on the United States, the United Kingdom and Asia first.
Intellect , a Singapore-based startup that wants to lower barriers to mental health care in Asia, says it has reached more than one million users just six months after launching. Singapore-based Intellect wants to lower barriers to mental health support in Asia. Chai also participated. Intellect offers two products. .
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.
One Impression, an Indian influencer marketing platform that does business in markets including Indonesia, Dubai, Europe and the U.S., has raised $10 million in a funding round led by the South Korean gaming company Krafton. It also plans to unlock it for LinkedIn and Moj in India and TikTok for global markets over time.
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.
“Students and freelancers are among the most underbanked population, and they are our first target market. The round was led by Zayn Capital; London-based investment firm, MSA Novo; global fund manager and Graph Ventures; an early-stage VC from Silicon Valley. We are very bullish on fintech in Pakistan.
The strategic partnership will help South Korean e-commerce brands grow domestically and make inroads into more countries in Asia. Una, one of the largest e-commerce aggregators in Asia, has already established its presence across Asia, including Singapore, Australia, India, China, Indonesia, Malaysia and Taiwan, since its launch in 2021. .
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. In a statement, Headline Asia partner Aki Okamoto and principal Jonathan M.
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. Its APIs are cover two categories: open banking APIs and payment services APIs, with the goal of building the most complete open finance stack in Southeast Asia.
We have been able to provide financial freedom through vehicle ownership for some of our customers who have finished the programme in different markets,” said Ladi Delano , co-founder and co-CEO, when asked how many drivers have managed to gain ownership of cars since using the platform. “So It is a problem faced across many emerging markets.
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 Teams that have been hit hardest include operations, financial and human resource departments, plus some sales and marketing teams. among those affected.
As the market swoons, venture capital firms continue to announce new funds. Meanwhile, I corresponded with three firms about their funds and any concerns that limited partners had brought up during the fundraising stage. This allows Pakistani startups to scale faster throughout the country and expand into other markets.”.
In emerging markets like Africa , offline channels dominate retail sales, which are often driven by informal trade and cash transactions. This makes sourcing data on markets, consumer behavior and products a herculean task. Rutakangwa also says they are available in other markets like South Asia and Latin America.
Indian fintech KreditBee has raised an additional $100 million in a funding round, it said, as the lender looks to scale its business in the South Asian market. The new cash infusion is part of the larger Series D funding , which KreditBee said has now closed at $200 million.
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.
Kenya-based MyHealth Africa , an integrated healthcare platform changing how people access medical services, by connecting patients with local and international health specialists and hospitals, is growing its reach in Africa, and plans to further expand in Middle East and South Asia next year.
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.
Spot bitcoin exchange traded funds, or ETFs, have been a hot topic in the crypto community for many years, but have recently gotten more attention due to Jacobi Asset Management listing Europe’s first bitcoin spot ETF almost two years after its initial approval. Check out what caught our attention below.
Beam , a Singaporean shared micromobility operator, announced today that it has raised $93 million in a Series B round to accelerate growth into new countries in Asia. The Series B brings Beam’s valuation up into the triple digits, says CEO and co-founder of Beam Alan Jiang who declined to provide exact numbers. .
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. The Series B round brings Skit’s total funding to $30 million. Skit recently expanded into the US and South East Asiamarket. “We
The Off-Grid Energy Access Fund (FEI-OGEF), Cordaid, and Qotto’s existing investors also participated in the round. Qotto told TechCrunch it plans to scale in existing markets, and expand to Ivory Coast where it is set to begin operations by next month.
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.
Spinny, a Gurgaon-based startup that operates a platform to facilitate the purchase and sale of used cars , is the latest firm to become a unicorn in the world’s second-largest internet market. The round, which is co-led by Tiger Global and Abu Dhabi Growth Fund, values Spinny at over $1.75 billion post-money, the source said.
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.”.
that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 million in seed funding. 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.
Rhys Spence is head of research at Brighteye Ventures, a European edtech-focused fund, where he works with portfolio companies to help address priorities, with a focus on internationalization. and three in Asia. Higher budgets also enable entry to several markets nearly simultaneously. Rhys Spence. Contributor. Share on Twitter.
One of the biggest catalysts of the increase in VC investments, however, has been the Elevate NZ Venture Fund , a $300 million fund of funds program that will invest capital into VC firms over the next five years. Note: All monetary amounts are listed in New Zealand dollars unless otherwise stipulated. .
Indian insurtech Acko is in late-stage discussions to secure $120 million in a funding round at a time when weak global market conditions have subdued large financing deliberations in the South Asian market. Amazon-backed Acko nears $120 million in new funding by Manish Singh originally published on TechCrunch
Xendit , a payments infrastructure platform for Southeast Asia, has raised $300 million in fresh funding. The company’s new valuation wasn’t disclosed, but it hit unicorn status in its last round of funding in September 2021. Part of the funding will be used to expand into new markets, like Thailand, Malaysia and Vietnam.
This is part of a strategic investment, with startup and MUFG planning to expand into new markets and product together in 2023. Earlier this year, Akulaku raised $100 million in funding from Siam Commercial Bank as part of another strategic investment.
The Singapore-based company announced today it has raised $6 million in seed funding, led by B Capital Group. The Singapore-based company announced today it has raised $6 million in seed funding, led by B Capital Group. The company says this is one of the largest seed rounds ever for a SaaS company based in Asia.
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.
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