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Afternoon News Roundup: Singapore’s Hoolah enters Malaysia, targets growing e-commerce market

 

Singaporean fintech company Hoolah enters Malaysia

Hoolah, a Singaporean fintech company that allows consumers to pay for three-monthly instalments without any interest or fees, has confirmed entry into Malaysian waters, according to Tech In Asia.

The country marks its first international expansion.

Stuart Thornton, CEO of Hoolah, stated that Malaysia has always been a key market for the company due its proximity to Singapore as well as the rise of e-commerce in the market.

The startup has already managed to partner with two fashion tech companies Novelship and Blinq.

Singlife confirms license to operate in the Philippines

Singlife, a digital life insurance company based in Singapore, has officially received a licence to operate in the Philippines, as reported by Dealstreet Asia today. The deal reports a 65 per cent stake of SingLife Philippines to be owned by Singlife while other partners Aboitiz Equity Ventures (AEV) and Di-Firm will own 15 and 20 per cent stake.

“The licence was issued just two months after the digital insurance company partners with Philippine-listed AEV to launch in the Philippines,” said IC Commissioner Dennis B. Funa to Inquirer.

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Singlife has a current valuation of  US$360 million and is the first independent life insurance company that is fully licensed by the Monetary Authority of Singapore.

Indonesia’s unicorn Traveloka launches co-branded credit card with Bank Mandiri

Indonesia’s unicorn Traveloka announced today that it has launched a co-branded credit card along with Bank Mandiri that will allow consumers to earn points from offline and online purchases among many other benefits, according to Tech In Asia.

The card will be available to Indonesian consumers in the next few months, according to a statement. Users can file for their application via Traveloka’s platforms.

This happens to be Traveloka’s second card after it had partnered with another local bank, Bank Rakyat Indonesia, to launch the PayLater Card.

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“The collaboration aims to solve the pain points of customers who are often forced to book flights and hotels at the last minute due to a lack of credit access,” said Traveloka in the company statement according to Tech In Asia.

Image Credit: Hoolah

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