Dear Pro member,
Singapore-based fintech firm, FOMO Group, has made significant strides in expanding its foothold in the Asian financial landscape through strategic acquisitions. It has acquired two local financial institutions, CapBridge and 1exchange, to venture into the capital markets.
CapBridge, a digital online investment syndication and distribution platform, presents an opportunity for FOMO Group to broaden its service offerings to cater to a wider range of customers. Additionally, 1exchange, with its cost-effective listing venue tailored for SMEs, corporates, and institutions, complements FOMO’s vision of becoming a fully-integrated, regulated, and licensed digital payment and digital asset solution provider in the region.
FOMO Group seeks to capitalise on the growing demand for fintech solutions and financial services in Asia by venturing into the capital markets space. With these strategic acquisitions, the company aims to strengthen its market position and unlock new revenue streams.
As the financial landscape continues to evolve, FOMO aims to accelerate innovation and adaptability, enabling the company to stay ahead in the competitive fintech industry and seize emerging opportunities in the dynamic Asian market.
Scroll down to have a glimpse of the top startup news stories collated from across Southeast Asia.
Sainul,
Editor.
FOMO Group acquires CapBridge and 1exchange
CapBridge is a digital online investment syndication and distribution platform, whereas 1exchange is an RMO-licensed private securities exchange that offers a cost-effective listing venue designed for SMEs, corporates and institutions.
MAS eyes AI, Web3 projects with US$112M fintech scheme
The Financial Sector Technology and Innovation Scheme 3.0 will fund projects that tackle key areas of development in the fintech industry; FSTI 3.0 will have six tracks that cover the program’s different investment activities.
Singapore’s DotBio raises US$5.6M pre-Series A
The investors include Proxima Ventures and Gaorong Capital; DotBio, which specialises in antibody therapies, said it will use the funds to start its pre-clinical studies in areas such as animal efficacy, as well as chemical, manufacturing and controls.
BintanGo expands into live commerce with US$2.2M raise
The investors include Investible and Contents Technologies; BintanGo, which provides tools for digital content creators in Indonesia, aims to become a live-commerce enabler on TikTok, Instagram, Shopee, and YouTube.
Moonbox raises US$1M to launch AI-powered NFTs, apps
The investor is OKX Ventures; Moonbox develops an interactive protocol with AI that can give life to different digital assets, including NFTs.
Patrick Grove’s SPAC inks US$685M deal with Norwegian company
His SPAC Catcha Investment has agreed to merge with Crown LNG, a Norwegian firm that builds offshore liquefied natural gas terminals for harsh weather locations; The merged company, Crown LNG Holdings Limited, plans to list on the NYSE.
Ant Financial sells Paytm stake worth US$628M to founder Vijay Shekhar Sharma
Ant Financial will acquire a 10.30% stake in the Indian financial services firm in a move that appears to be orchestrated to cut the Indian firm’s exposure to the Chinese company.
Steve Jobs’s son launches VC fund to invest in cancer treatments
Reed Jobs is launching Yosemite, which has raised US$200M from medical institutions like Memorial Sloan Kettering Cancer Center, The Rockefeller University, and M.I.T, as well as from venture capitalist John Doerr.
Corporate investment strategies have become more mature, aggressive over time: Joseph Phua
The founder of Paktor and 17LIVe says the treatment of startups by old-school incumbent businesses in Asia has evolved in the last decade.
How Bossjob plans to win the Japanese market with its AI-powered career platform
Prior to its expansion to Japan, Bossjob entered Singapore and Indonesia and is preparing to enter Hong Kong in Q3 2023.
How Qashier plans to continue supporting SMEs with its product innovation
Qashier has recently introduced its flagship smart point-of-sale terminal Qashier X2 and the lightweight and portable QashierXS.
Indonesia may have a bright future in Web3 space, but some homework remain
The archipelago has all the elements of a supportive Web3 ecosystem with a close-knit community to forward-looking initiatives.
The wave of layoffs in 2023 and the Vietnamese market
While challenging, layoffs can also be seen as an opportunity to seek growth and advancement in your career.
From chatbots to therapists: How AI break ground in bridging the mental health care divide
We’re at the precipice of what could be a seismic shift in how we understand and address mental health.
Tap into the potential of your location data to boost business growth
How harnessing the power of your location data can help empower your business with the help of UNL’s unique location technology.
—
The post Ecosystem roundup: FOMO Group acquires CapBridge, 1exchange; DotBio, BintanGo secure investments appeared first on e27.