Funding
Global Fintech Funding Falls to Six-Year Low
Global fintech funding hit its lowest level since 2017, totaling US$7.8 billion in Q2 2023 through 845 rounds, new data released by market intelligence platform CB Insights show. The figures reveal a deteriorating fintech funding environment amid the global economic
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Temasek Pulls Back on 2023 Fintech Investment Amid Challenging Global Outlook
Since its foundation in 1974 Temasek Holdings, the global investment firm based in Singapore, has demonstrated a formidable capacity for navigating an ever-changing financial climate. Despite managing an expansive portfolio valued at S$382 billion as of 31 March 2023, the
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Vietnam’s Earned Wage Access Firm GIMO Raises US$17.1M to Fuel Expansion
Vietnam-based earned wage access startup GIMO announced that it has closed its US$17.1 million Series A funding round five months after the company secured US$5.1 million in the first close. The final closing comprised both equity and debt financing. The
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Thunes Extends Series C Fundraise to US$72M, Upsizing from Initial US$60M
Thunes, a global B2B payment infrastructure platform, announced the extension of its Series C with an additional US$12 million from Visa, Singapore-based global investor EDBI and San-Francisco’s Endeavor Catalyst. This brings its Series C up to US$ 72 million. Just
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dtcpay Raises US$16.5M Pre-series A to Expand Global Presence
dtcpay, a Singapore-based digital payments platform, has raised US$16.5 million in a pre-Series A funding round led by the Chairman of Pontiac Land Group Kwee Liong Tek. The firm said that the funding will be used to further invest in
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StanChart and SMU Launches Women in Entrepreneurship Incubator
Standard Chartered Bank has launched a new Women in Entrepreneurship Incubator in partnership with Singapore Management University’s (SMU) Lien Centre for Social Innovation. The Incubator is funded by the bank’s US$300,000 donation to the university to support female entrepreneurship focused
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Antler Closes US$285 Million Fund to Focus on Series A and Beyond
Antler, a Singapore-based business incubator and startup accelerator, has closed a US$285 million emerging growth fund to support founders across its global footprint. The Antler Elevate fund, which will be managed from its offices in London, Singapore, and New York,
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Sequoia India and SEA Rebrands as Peak XV Partners Following Three-Way Split
Sequoia Capital (US/Europe), Sequoia China as well as Sequoia India and Southeast Asia have decided to become independent firms with distinct brands. Since inception, Sequoia Capital (US/Europe), Sequoia China and Sequoia India/SEA have been built as separate businesses with independent
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Thunes Pockets Over US$60 Million in Series C to Expand Global Footprint
Global cross-border payments firm Thunes has raised more than US$60 million during its Series C funding round led by hedge fund Marshall Wace with support from Bessemer Venture Partners and a newly raised Southeast Asian private equity firm 01Fintech. Reports
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Outlook Remains Optimistic for Singaporean Startups Despite Funding Slowdown
Singapore’s emerging technology sector is expected to continue on its growth path, driven by supportive government initiatives and policies. This will be despite a challenging macroeconomic environment that’s marked by rising inflation, interest rate hikes and a looming global recession,
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