Lending
Vietnam’s SeABank to Sell Lending Unit to AEON Financial for US$184.6 Million
The Joint Stock Commercial Bank Southeast Asia (SeABank) is selling its Post and Telecommunication Finance Company (PTF) to AEON Financial Service, the financial arm of Japan’s AEON Group, for VND 4.3 trillion (US$ 184.6 million) Established in October 1998, PTF
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Google’s New Initiatives: Expanding Credit Access, Combating Online Fraud in India
Google has unveiled a series of initiatives at their annual “Google For India” event including bridging the credit gap, fostering generative AI and language inclusivity with a new center, and enhancing online safety and security. Addressing the significant issue of
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Indonesian Lender Investree Raises US$231 Million Series D
Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), has raised US$231 million in a Series D funding round. The fundraise was led by Qatar’s JTA International Holding and joined by SBI Holding, bringing its
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How to Skyrocket Your BNPL Products: Technology is Everything
Buy Now, Pay Later (BNPL) wallets were once dubbed a “billion-dollar plan to destroy credit cards.” However, BNPL providers such as Afterpay and Klarna have since begun offering contactless Mastercard and physical Visa cards, respectively. Currently, both Visa and Mastercard
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Funding Societies Secures US$27 Million Debt Financing
Funding Societies | Modalku, an SME digital financing platform in Southeast Asia, has raised US$27 million in debt financing. The debt fundraise was led by Asia-focused private credit financier AlteriQ Global, with multi-family office Aument Capital Partners (ACP) and sustainability-focused
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Thought Machine’s Modern Core Enables Nikel to Close the Small Business Credit Gap
Thought Machine, a cloud-native banking technology company, has empowered Nikel, a fintech startup that unlocks credit for millions in Southeast Asia, to streamline its lending process and develop new products more quickly. Founded in 2018, Nikel which rebranded from Impact
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Episode Six Launches Business Now, Pay Later to Help Banks Meet SMEs’ Needs
Episode Six (E6), a global provider of payment processing and banking infrastructure, announced the launch of its ‘Business Now, Pay Later’ offering. This solution enables commercial banks to offer installment loans to businesses at any point in their buying journey,
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KASIKORNBANK in Talks to Buy Home Credit Vietnam for US$1B
Thailand’s KASIKORNBANK (KBank) is reportedly mulling the acquisition of consumer finance provider Home Credit Vietnam for up to US$1 billion, according to a Reuters report citing two sources. The bank has spoken with financial advisors, however, a final decision has
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Validus Names Vineet Agarwal as New Singapore CEO
Southeast Asian SME financing platform Validus announced that it had named Vineet Agarwal as CEO of Validus Capital in Singapore, effective 1 August 2023. He succeeds Jayanta Roy who is retiring. Vineet joined Validus in January 2022, where he led
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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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