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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. TechCrunch first covered Funding Societies when it raised its Series A in 2016. million loan transactions.
Carro , one of the largest automotive marketplaces in Southeast Asia, announced it has hit unicorn valuation after raising a $360 million Series C led by SoftBank Vision Fund 2. Other participants include insurance giant MSIG and Indonesian-based funds like EV Growth, Provident Growth and Indies Capital.
Guest Beneblog by Vijaya Tripathi The first ever Martus users group meeting took place earlier this month in Chiang Mai, the capital of Northern Thailand. Since we began developing Martus 10 years ago, we’ve been able to enhance it only incrementally as project specific funding allowed. This is a truly unique moment in Martus’ history.
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. The Singapore-based startup announced today it has raised $6.6
With their services more relevant than ever during the COVID-19 pandemic, the startup announced it has raised $14 million in new funding. Based in Hong Kong, Coherent helps insurance providers go digital. The company also offers three tools for working with customers.
The company uses AI and machine learning-based technology underwrite its motor insurance and employee health benefits products, and says its data models also allow it to automate pricing and scale its underwriting process for complex risks. Sunday says it currently serves 1.6 million customers.
The company is one of the largest VC–backed startups in Southeast Asia, having raised over $60 million in funding. This is the second part of a four-part series that will provide insight into starting, building, and funding a company across Asia. See part one here. Hire the right people – local and entrepreneurial.
million USD) in Series C funding. The company’s Series C, which it claims is one of the largest private rounds raised by a Southeast Asian healthtech company, brings its total funding to more than $140 million SGD. . The funding will be used to deepen Doctor Anywhere’s presence in its current markets and expand into new ones.
It will also use the funding for global expansion, Kimura said. The company plans to expand further in major cities and tourist destinations, including Mexico, Spain, Thailand, Dominican Republic, the U.S. SmartRyde announced today it has secured a $1.6 Honolulu, Las Vegas, Miami) and Japan, Kimura said.
The capital brings Intellect’s total funding since the Y Combinator alum was founded in 2019 to $23 million, and will be used to launch commercially in more markets, expand its operations and build out its mental healthcare system. Intellect describes this as “the largest venture round raised by any mental health company in Asia.”
Therefore , digitizing has been mostly around delivery rather than building new infrastructure and payment processing models for African individuals and businesses to make cross-border payments. Financial institutions are left with traditional systems and correspondence models to offer service to their customers.
The startup announced today it has raised a $14 million Series A led by Jungle Ventures with participation from eWTP Capital (a venture fund under Alibaba and Ant Financial) and ThinkZone Ventures. This brings Edupia’s total funding to $16 million. Edupia currently has a total of 5 million users, with 400,000 paying students.
On the back of its successful launch in Vietnam earlier this year, the startup plans to penetrate farther into Southeast Asian countries such as Thailand, Malaysia and Indonesia in 2023, co-founder and CEO Kimberly Yao said in an interview. . Image Credits: CloudEats. CloudEats says it has served more than 2.5 million orders.
Four months after announcing its last round, Employment Hero has closed another $140 million AUD (about $103 million USD) in funding. Its previous funding announcement was a $45 million AUD Series D announced in March , led by online job platform SEEK, at the company’s previous valuation of about $250 million AUD.
The company is one of the largest VC–backed startups in Southeast Asia, having raised over $60M in funding. We’ve asked him to give us some insight into starting, building, and funding a company across Asia. Thailand, Indonesia, Korea, and Vietnam each have a couple of very good VC firms. Where are all of the VCs in Asia?
Glorang , a Seoul-based edtech startup that offers after-school classes and extracurricular activities via online for students between the ages of 3 and 18, said Friday it has raised a $10 million Series A funding co-led by Korea Investment Partners and Murex Partners, along with Japan’s Pksha Capital. .
Since TechCrunch covered MindX’s Series A funding in November 2021 , it’s tripled its geographical coverage to 32 campuses across Vietnam, graduated 35,000 students so far and connected students to employers in countries like Australia, Thailand, the United Kingdom and, soon, the United States.
Since TechCrunch covered MindX’s seed funding in November 2021 , it’s tripled its geographical coverage to 32 campuses across Vietnam, graduated 35,000 students so far and connected students to employers in countries like Australia, Thailand, the United Kingdom and, soon, the United States.
million in seed funding led by Headline Ventures. The new round of funding brings its total raised to $5.8 With the latest funding, Peeba plans to double its headcount and expand local offices to improve local language support across 11 Asia countries. The startup has secured $4.2
The startup announced this week it has raised $1 million in seed funding from Mintech Enterprises and Hofan Capital to build its technology and expand into new countries. Resellee’s platform also gives them the option of using the funds to buy discounted mobile or gaming prepaid loads, or top-ups, which they can also offer in their stores.
SwipeRX’s community-driven commerce model enables small pharmacies in particular to benefit from the power of that broad network by accessing the best prices and better ensuring that medicines are available to them and their patients, he said. million in Series A funding in 2017 — has the kind of momentum that investors like.
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.
.” With Humble Bee’s most recent raise, the company is aiming to hire another senior scientist and continue funding its outsourced R&D. Graves said New Zealand isn’t the best place for manufacturing biotech because of some “old school” genetic engineering laws, so it looks to countries like Thailand, the U.S.,
My co-founder, Amy, was hospitalized in Thailand after taking counterfeit medicine. The machine learning model reads the sample spectra and send test results indicating the identity and the quality versus the reference. It also employs a subscription model with the RxScanner for individual and business customers.
Today, one of the startups that’s seeing a lot of growth as a result of that is announcing a big round of funding to further tap the opportunity. Cars24 is not only on a scaling, but also a funding, tear: it additionally raised $200 million last December, putting the total raised in the last year to about $840 million.
In a press statement, Sasidharan said, “Zenyum’s differentiated business model gives it a strong competitive advantage, and we are excited to partner with the founder management team to help them realize their growth ambitions.” This brings Zenyum’s total raised so far to $56 million, including a $13.6
Its model is similar to Divvy Homes and ZeroDown in the United States and, in fact, leaders from both startups have invested in Homebase (Divvy Homes co-founder Brian Ma and ZeroDown’s former COO Troy Steckenrider). . “If you look at the whole of Southeast Asia, compared to Europe or the U.S.,
million in pre-seed funding led by AC Venture and Alpha JWC, with participation from Living Lab Ventures and Ciputra Group. The funding will be used of product development, hiring and expanding its products. On the other hand, he describes IDEAL’s business model as “customer centric” and leaning more toward fintech instead of proptech.
The company’s business model is similar to Divvy Homes and ZeroDown in the United States and, in fact, Divvy Homes co-founder and former CEO Brian Ma and Zerodown chief operating officer Troy Steckenrider III are investors in Homebase. It is also exploring other Southeast Asian countries like Thailand and the Philippines.
The funding brings the total amount raised by the Jakarta-based company to $88 million since its 2015. ” Xendit was originally launched as a P2P payments platform before evolving into its current model. Indonesia’s Xendit , a startup focused on building digital payments infrastructure for the region, has just raised $64.6
Electric fat-tire bike manufacturer Rad Power Bikes has unveiled the latest model of its flagship RadRover. In February, Rad Power Bikes raised $150 million from investors like Morgan Stanley’s Counterpoint Global Fund and Fidelity Management & Research Company. It used the funds, one of the largest of a U.S.
Fan mentioned how companies like Grab, GoJek and Carousell still turn to local trainers in countries like Indonesia, Thailand and Singapore — giving his company an opportunity to come in and bring more advanced pedagogy and branding.
Funding Societies , the SoftBank Vision Fund II-backed SME digital lending platform, recently launched a shariah-compliant financing product there, and now offers it as the default product to all its Malaysian customers. Meanwhile in Malaysia, where 61.3% out of its 33.6 All losses and profits are shared pro rata, Martin explained.
Britain didn’t adopt January 1 as the New Year until 1752; Thailand didn’t until 1941. Reflection: Do your foundation’s governing documents or bylaws allow you to change or adjust funding strategy? I know of at least one private foundation that can only fund certain named organizations. Neil isn’t wrong.
They’ve been building up Ample for years now, and some of its original investors — including Moore Strategic Ventures, which is run by hedge fund king and Fisker Inc. backer Louis Bacon, as well as Shell Ventures — are contributing to this series C funding round. Let’s start with the funding because that’s the news.
The funding comes at a time when the global sneaker resale market is thriving, with an expectation to reach $30 billion by 2030, according to a 2020 report by Cowen Equity Research. Other competitors have a C2B2C business model and mainly work with individual sellers with unverified supply sources,” Yip told TechCrunch.
The organization operates in Thailand, Cambodia, the Philippines, Laos, Dominican Republic and India and also has offices in three donor nations: United States, Australia and New Zealand. Mission: Named after the North Star that guided slaves to freedom in the U.S.,
I recently had the pleasure of visiting one of our longtime Martus partners in Thailand, The Network for Human Rights Documentation – Burma ( ND-Burma ). ND-Burma, a Thailand-based coalition of over ten human rights groups, has been collecting narrative testimonies from victims and witnesses of human rights abuses by the Burmese regime.
So we’re still a very large company in Australia and Thailand and South Africa. So turning around automotive is really essential for us because it funds all the next things I’m going to talk about. Now that’s really hard because Henry Ford kind of democratized transportation with the Model T, and here we are.
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