Funding winter: “Focus on corporate funds from developed countries”
For companies currently fund-raising, it’s best to raise for a minimum of 24 months runway, say VCs; It is risky for them to raise for a 12-18 months runway; Funds from developed countries such as the US will likely flow into Southeast Asia.
Singapore-based neobanking firm Stashfin bags US$270M in Series C
Lead investors are Uncorrelated Ventures, Fasanara Capital, and Abstract Ventures; With nearly 10 million registered users, Stashfin operates in India and Southeast Asia.
Zilingo Philippines delays salaries amid company’s uncertain future
Staff at the beleaguered company have not been paid salaries for nearly two months now; Its HR team said that it plans to sell office assets and production equipment as an alternative means to pay salaries should the delay continue.
Carsome hits brakes on US, Singapore listing plans
Carsome has reportedly suspended work on the offerings and will resume the plans next year if market conditions improve; The decision was made due to concerns that deteriorating macroeconomic conditions could affect the company’s valuation.
Ekta secures US$60M to build infra for connecting blockchain with the physical world
The investor is US-based GEM Digital; Ekta builds an NFT marketplace, a hybrid exchange, and NFTs backed by the real-world utility to improve lives and communities.
D2C social e-commerce firm RPG Commerce raises US$29M Series B
Investors are East Ventures, UOB Venture Management, Vertex Ventures SEA & India, and RHL Ventures; RPG is a multi-brand D2C company that launches and operates a suite of e-commerce brands via a ‘shared backend infrastructure’ approach.
Vietnam’s fintech startup Finhay secures US$25M in Openspace, VIG-led round
Finhay allows users to make micro-investments in financial products starting from US$2.15; The platform currently has 2.7M+ registered users; Finhay has also acquired local securities brokerage firm VinaSecurities.
Ethis Group, Gobi Partners to launch Shariah-compliant US$20M seed fund
Once launched, the joint fund will invest in startups globally with an initial geographic focus in the MENA and ASEAN regions; The fund aims to make the first close by the end of this year.
Tiger Global leads US$8M round of HK social commerce firm SleekFlow
SleekFlow plans to use the fresh capital for product development and expanding its presence in SEA; SleekFlow aims to streamline communications for firms; It serves 5K+ businesses, including brands like Nars Cosmetics, Bossini, Lalamove.
Openspace leads Philippine fintech firm Lista’s US$5.1M round
Lista aims to help Filipino merchants and individuals better manage, save, and grow their finances; The app lets users track the flow of their money and see their profits and savings in real-time.
Used-car marketplace Carro to expand to Japan
It already has a strong presence in Singapore, Malaysia, Indonesia, Thailand, and Taiwan; The firm is backed by SoftBank and other Japanese investors who can help Carro grow and accelerate penetration there.
Helicap raises US$5M from Tikehau Capital, PhillipCapital
Helicap is a fintech-driven investment firm specialising in the alternative lending space in Southeast Asia and Australia; Since its founding, the Singaporean firm claims to have arranged US$150M in volume in over 300 completed deals.
Y Combinator leads Vietnam fintech startup Afin’s US$4.8M round
Angel investor Clement Benoit also participated; Using tech-enabled profiling and risk assessment tools, Anfin will provide a platform that allows credible investors to share ideas, strategies, and trades.
Tokopedia injects US$3.9M into its subsidiary investments subsidiary
About US$1.2M of the amount was channelled into ASL, the company that runs a fulfilment service named TitipAja; TitipAja is a JV between Tokopedia subsidiary Roda Bangun Selaras and publicly listed transportation company Adi Sarana Armada.
Sequoia’s Surge raises funding ceiling to US$3M
The current range is US$1-2 million; The increase is aimed at making the accelerator accessible to more founders, including those who have already raised seed funding.
Delivery Hero Ventures backs SG data management firm Staple’s seed round
Staple helps businesses automate document processing using AI; The firm currently serves a diverse set of enterprises – financial institutions, online grocery retailers, and professional services firms.
Singapore approves 3 crypto licenses
While MAS did not name the awardees, Crypto.com said that it was one of the recipients. The two other recipients are reportedly Sparrow Exchange and Genesis.
PH startup makes bold bid to provide satellite-based Internet to remote areas
Quicksilver Satcom Ventures said it wants to work with local governments as well as private clients to set up service areas, and then help leverage Internet connectivity into greater economic development.
Bukalapak founder’s VC backs Indonesian edutech firm Dibimbing
Dibimbing provides digital skills training and career acceleration services for job seekers through a solution called school of career; The startup said it works with 450 hiring partners and companies, including edutech platform Zenius.
Web3 browsers are a gateway to the decentralised world
Web3 browsers allow for more functionality by granting a window into a plethora of interconnected services that aren’t siloed by exclusive or centralized technologies, says Jorgen Arnesen, the VP of Web3 at Opera.
Tencent’s WeChat wants no more talk of cryptocurrency and NFTs
China’s ban on cryptocurrency mining – and general dislike of any form of blockchain-based assets – has seen web giant Tencent clamp down on discussion of the subjects on its massive WeChat and Weixin messaging platforms.
Scams in GameFi: How to identify toxic NFT gaming projects
When choosing a GameFi project, it is worth considering the marketing and technological component: How actively the project is promoted, and what benefits the project’s token bestows upon its participants.
Web3 and the future of medicine
With how Web3 promises to connect users in secure, online, real-time environments, patients would easily and securely gain access to healthcare options from all around the world.
Zuckerberg details his plan to move your digital items across the metaverse
Facebook Pay has officially become Meta Pay; With this, it’s working on something that will let users manage their identities, items, and payment methods while making their way through the digital world that Meta bets will be the future.
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Copyright: jakobradlgruber
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