India-based Zolve raises US$15M led by Accel, Lightspeed
Investors: Blume Ventures, Dr. Ashish Gupta (ex-Helion MD), Greg Kidd (angel investor in Twitter), Kunal Shah (founder of Cred), Rahul Mehta (Managing Partner at DST Global), and Rahul Kishore (Senior Managing Director, Coatue Capital), and Founder Collective.
What the funding will be used for: Product enhancement, hiring, and marketing.
About Zolve: Zolve provides financial services to people migrating to different regions. The startup works with banks in the US and India to provide consumers with access to financial products seamlessly without paying any premium or security deposit.
The startup was founded by TaxiForSure co-founder Raghunandan G, who sold his startup to Indian ride-hailing giant Ola. He believes that his latest startup Zolve will enable people to access financial products seamlessly without being limited by borders.
MDEC pledges support towards Government’s Digital Economy Blueprint
The story: The Malaysia Digital Economy Corporation (MDEC) has pledged its support and commitment to the Government’s Digital Economy Blueprint – MyDIGITAL, according to digitalnewsAsia.
What is MyDIGITAL?: A blueprint designed to become the foundation for Malaysia’s transformation into a digital hub by 2030.
Also Read: MDEC seeks to encourage SMEs; digitalisation with US$1.5M grant
More about the story: Prime Minister Muhyiddin Yassin is set to launch MyDIGITAL on Feb 19.
Ohm Mobility acquires CloudNBFC to make EV financing easy for lenders
The story: Ohm Mobility, a one-year-old fintech and clean transportation startup, has acquired loan management software CloudNBFC.
More about the story: While the details of this deal remain undisclosed, this acquisition will help Ohm in its plans to launch a new platform that is going to make electric vehicle (EV) financing easier for lenders.
“While the government aims for EV adoption on a big scale, financing of EV remains to be one of the biggest challenges. Ohm’s tech platform is trying to make financing of EVs easier for lenders,” CEO and founder Nikhil Nair.
About Ohm Mobility: Founded in 2020, Ohm Mobility combines digital payments, internet of things (IoT) data from vehicles, and data science to help banks reduce lending costs and modernise lending.
Ata Plus, IAP announce strategic alliance
The story: Ata Plus, an equity crowdfunding platform in Malaysia has announced a strategic alliance with IAP Integrated to diversify avenues for funding that are available for companies.
More about the story: By leveraging on the strength of Ata Plus, IAP will be able to present alternative funding opportunities for early-stage companies that approach them, therefore reducing the number of companies that are left unattended or turned away.
“The hope is that, after a successful equity raise and further growth, these promising companies can return to IAP for their future funding requirements,” said CEO of IAP, Joann Enriquez.
What is IAP?: A wholly-owned subsidiary of Raeed Holdings (Raeed), which is a consortium of six Islamic Banks in Malaysia.
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