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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. Apart from e-wallet, we are an agent-based payment and remittance service provider.

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Fairbanc provides BNPL for micro-merchants in Indonesia

TechCrunch

Fairbanc will use its new funding on expanding in Indonesia, and exploring new markets like Vietnam and the Philippines in partnership with Unilever. Fairbanc also received previous investment from East Ventures, 500 Global and Michael Smapoerna.

Indonesia 100
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Summer International uses social media data to launch new beauty brands

TechCrunch

It operates in the United States, South Korea, Singapore, the Philippines and Indonesia. Summer International brands are sold through a mix of digital and offline channels, including e-commerce platforms, social and live commerce platforms and big box stores.

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Zola Electric closes $90M funding round to scale technology and enter new markets

TechCrunch

First, around product development, the team is eager to build next-generation digital renewable energy. With a similarity to the offline grid, Infinity connects to all the loads in a residence or business place and controls them digitally while providing data and analytics in the process. Brazil, Pakistan, and the Philippines.

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Indonesia’s IDEAL takes the pain out of applying for mortgages

TechCrunch

Before launching IDEAL, Surjaudaja was former head of operations strategy at digital payment service OVO. Surjaudaja said that traditional retail banks offer a relatively poor digital experience for their consumer lending products, making them less accessible. IDEAL’s digital platform seeks to solve these challenges.

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SoftBank-backed travel tech startup Yanolja acquires Korean e-commerce company Interpark 

TechCrunch

In July, Yanolja launched a new feature, Yanolja Cloud, a B2B operation solution, to reinforce its digital transformation as demand for contactless service grows by the pandemic. Yanolja Cloud automates online and offline operations and helps hotel operators to generate more revenues by offering personalized service to guests at a lower cost.

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

TechCrunch

“This is also coupled with the fact that last year, the COVID-19 pandemic has driven a significant increase in demand for digital payments and financial services across Indonesian rural areas, creating a huge growth opportunity for us,” Liu added. Payfazz uses payment infrastructure developed by Xfers to accept digital payments.

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