Indonesia regulator bans trading firms from issuing certain financial products
Offshore products, crypto assets, and gold are banned; The move could affect multi-asset trading platforms such as Ajaib and Pluang, which have launched crypto assets on top of their stock business; OJK said the latest regulation is aimed at improving consumer protection.
Sendo raised US$57M via convertible loans since 2020
In 2021, the company issued two tranches of convertible notes to investors, including Econtext Asia, SBI E-Veitnam, and subsidiaries of Sendo’s parent FPT Corp.
Alpha JWC, Gojek’s VC arm pour US$35M into Indonesia’s AgriAku
AgriAku is a B2B marketplace that connects retailers of farming equipment with suppliers of agricultural input such as seeds, fertilisers, and agrochemicals; It gets revenue from the margin for every transaction that happens.
Govt-backed Korean fund KVIC commits US$23M to AC Ventures, Gobi Partners, Highlight Capital
The fund committed US$6.5M to each ACV and Gobi and US$10M to Highlight; ACV has a minimum target corpus of US$16.3M while Gobi and Highlight are seeking to raise a minimum of US$39M and US$200M for their funds respectively.
Singapore mental health startup Intellect extends Series A to US$20M
Investors include Tiger Global, Insignia Ventures, HOF Capital, K3 Ventures and Singtel Innov8; Intellect will use the funds to expand across Asia, focusing on building the region’s first digitally-enabled full-stack mental healthcare system.
Binance unit gets nod for Spanish operations
The registration, which was granted to Moon Tech Spain, will allow Binance to offer crypto asset exchange and custody services in the country; This marks the third registration that Binance has received in Europe, following those in France and Italy.
Philippines’ AC Ventures, 917Ventures partner to develop startup ecosystem
The partnership hopes to accelerate both the quantity and quality of 917V’s future companies as the unique advantages now encompass the broader Ayala group, including real estate, banking, power, healthcare, and logistics.
East Ventures backs Indonesian construction tech firm Amoda’s pre-seed raise
The company allows customers to choose and customize their buildings online and provides prefabricated materials that can help reduce construction time and costs; It caters to both individuals and businesses in Indonesia.
Vision Fund’s senior leader resigns from SoftBank
Sources said that Rajeev Misra has raised over US$6B in commitment from several LPs, such as Abu Dhabi’s Royal Group and state-owned fund ADQ; However, Misra will continue to serve as a senior executive at the Vision Fund.
Singapore’s rewards-based payments firm TWID receives US$7M funding
Investors include Rakuten Capital, Beenext, Surge, and January Capital; TWID converts rewards points into a fungible payment instrument, to be used universally across its network of merchants and brands.
Embedded insurance firm Ancileo adds Fermion as an investor
With this strategic investment, Ancileo will gain access to some 230 banks and 150 insurers; Ancileo’s SaaS platform powers embedded travel insurance distribution for some of the most recognised travel brands in the world, such as Etihad Airways and Scoot.
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