Funding
Qoala Raises US$47M for AI-Powered Transformation and Regional Expansion
Indonesian insurtech startup Qoala has closed its Series C funding round led by PayPal Ventures and MassMutual Ventures to raise US$47 million. This brings Qoala’s total raised capital to over US$130 million. The round was also joined by MUFG Innovation
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Singapore Remains the Top Choice For Venture Capital in Southeast Asia
Southeast Asia is expected to remain an appealing destination to both private equity (PE) firms and venture capitalists (VCs), with Indonesia and Singapore remaining as the top choice for venture capital in Southeast Asia while Vietnam and Malaysia are gaining
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Indonesia’s Akulaku Secures US$100M Debt Financing from HSBC Singapore
Indonesian fintech Akulaku Group announced that it has secured US$100 million in debt financing from HSBC Singapore. Akulaku aims to deepen its operational footprint in Southeast Asia, facilitating the launch of new financing products and enhancing services for the underbanked
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Ant Group Injects Another S$200 Million Funding Into ANEXT Bank
Ant Group has further invested S$200 million (approximately US$148 million) into ANEXT Bank, its wholly-owned subsidiary and SME digital bank, according to recent filings with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. The latest investment marks a continued commitment
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Accredify Becomes Okta Ventures’ First Investment in Singapore
Singapore-based Accredify, known for its verifiable technology solutions, has received a strategic investment from Okta Ventures. The sum was not disclosed. This investment is part of an extension to Accredify’s Series A financing, marking Okta Ventures’ first foray into a
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Tokenize Xchange Secures Additional US$11.5M in Series A
Tokenize Xchange, a digital asset exchange based in Singapore, has received an additional investment of US$11.5 million in the second phase of its Series A funding round from venture capital firm TRIVE and various high-net-worth individuals. This brings its total
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British Neobank Monzo Reportedly in Talks for US$50 Million Stake Sale to GIC
British digital bank Monzo is reportedly in the advanced stages of discussions to raise around US$50 million through the issuance of new shares to Singaporean sovereign wealth fund GIC. According to an exclusive by The Sky News, the official announcement
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Binance Discreetly Spins off Venture Arm Months After Richard Teng Steps up as CEO
Global crypto exchange Binance has officially spun off its venture capital and incubation arm – Binance Labs, as reported by The Block. Binance Labs, now standing independently, has adjusted its operational dynamics, ensuring that its staff contracts and organisational structure
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DCS Card Centre Secures S$100 Million Upsize in Asset-Backed Notes
Singaporean fintech DCS Card Centre has secured an additional S$100 million in asset-backed notes, raising their total funding to S$400 million. This move follows the S$300 million previously raised in December 2023. The funds from the additional issuance will be
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AwanTunai Exceeds Series B Target, Raises US$27.5M Led by Norfund, MUIP
Indonesian fintech startup AwanTunai has successfully closed its Series B funding round, amassing US$27.5 million. The Jakarta-based company, known for its point-of-sale financing solutions aimed at digitising the nation’s predominant cash economy, has surpassed its initial target of US$25 million
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