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

TechCrunch

The company, which was founded in 2013, also plans to strengthen its global operations across six countries — Thailand, Indonesia, Vietnam, Myanmar, Cambodia, and the Philippines. The e-wallet service also serves as a payment channel for B2B, ranging from big brands to local SME owners as well as street market entrepreneurs.

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Jakarta-based SME financial platform KoinWorks scoops up $108M Series C

TechCrunch

The Indonesia-based financial platform for SMEs announced today it has raised $108 million in Series C funding led by MDI Ventures. As many as 20% of businesses shifted their sales channels offline to online during the pandemic, and 89% of businesses now use online channels to sell their products and services,” he said.

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TipTip uses a hyperlocal strategy to help Southeast Asian creators monetize

TechCrunch

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. It is currently focused on Indonesia, with a presence in 40 cities. But many of them don’t have the social media clout to attract advertisers.

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Miferia wants to expand its wholesale inventory marketplace across Latin America

TechCrunch

Working in this way, retailers often give up too much margin, on average 20% to 30%, including markups, which makes offline options prohibitive to everyone but the largest brands. In addition, shipping is expensive, so many retailers pick up their own inventory from the distributor. Meanwhile, Miferia is still in its early stages.

America 98
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Edupia raises Series A to close the education gap in Vietnam

TechCrunch

Most of its users are in Vietnam, but Edupia is also expanding into other Southeast Asian markets like Indonesia, Thailand and Myanmar, and adding more subjects, including math and coding. Before founding Edupia, Hung spent 10 years as director of digital services at Viettel, the largest telco in Vietnam.

Vietnam 98
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Payfazz invests $30M in Xfers as the two Southeast Asian fintechs form Fazz Financial Group

TechCrunch

As part of the deal, Payfazz, an agent-based financial services network in Indonesia, invested $30 million into payments infrastructure provider Xfers. In Indonesia, Payfazz has built a network of 250,000 financial agents to reach people in rural areas where many banks don’t operate branches. ” Singapore-based Xfers Lands $2.5M

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Mapan’s services helps low-income Indonesians users afford goods and services

TechCrunch

In Indonesia, arisans are traditionally rotating savings and credit associations (RSCA) that let groups of people, primarily women, save and borrow money together. Mapan is currently available in Java, Bali, Sumatera, Nusa Tenggara and Sulawesi, with plans to expand into the rest of Indonesia. and a McKinsey consultant.

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