In addition to fintech, travel and hospitality also remain a popular choice among tech investors in Southeast Asia in August

Just like the early-stage funding round compilation that we also published today, there are plenty of interesting takeaways that we can make from the list of August’s growth-stage funding rounds.

Travel and hospitality remain a popular choice among investors, with funding rounds into KiotViet (which included the participation of traveltech giant Traveloka) and RedDoorz (which has been competing heavily with OYO).

Fintech also remains a favourite with investment into P2P lending startup UangTeman and SME banking platform Aspire.

The following is the list of notable funding rounds that we have covered in August:

Uang Teman
Funding: First tranche of US$10M Series B funding round
Investor(s): Draper Associates, KDDI Open Innovation Fund, Global Brain

Indonesian P2P lending startup Uang Teman plans to make the final close of the Series B round at US$10 million, with the second and last tranche targetted for the end of October 2019. The startup wants to double down on growth within Indonesia.

99.co
Funding: US$15.2M Series B funding round
Investor(s): MindWorks Venture, Allianz X, East Ventures, Sequoia (India), and Eduardo Saverin

Property tech startup 99.co plans to use the funding to support its plan to build and extend its reach in Singapore and Indonesia. It also wants to launch in new markets and financial products relating to property.

Also Read: 5 leading Indonesian growth stage startups (that aren’t Go-Jek or Tokopedia)

RedDoorz
Funding: US$70M first close of Series C funding round
Investor(s): Asia Partners, Mirae Asset-Naver Asia Growth Fund, Qiming Venture Partners and International Finance Corporation (IFC).

RedDoorz wants to use the new funding to launch in new markets, scale technology, run customer experience projects, as well as to invest in people and marketing. It is also planning to use a “significant portion” of the investment to build a second engineering hub in Vietnam, to complement its existing on in India.

Carro
Funding: Additional US$30M to Series B funding round
Investor(s): SoftBank Ventures Asia, EDBI, Dietrich Foundation, NCORE Ventures, Hanwha Asset Management, Insignia Ventures, B Capital Group, Singtel Innov8, Golden Gate Ventures, and Alpha JWC Ventures

Carro wants to use the funding to further its expansion across Southeast Asia, starting with the acquisition of Jualo, an Indonesia-based online C2C marketplace platform.

Aspire
Funding: US$32.5M in Series A funding round
Investor(s): Mass-Mutual Ventures (MMV) Southeast Asia, Arc Labs, Y Combinator, Hummingbird Ventures, and Picus Capital

Founded in January 2018 by Andrea Baronchelli, former EVP and CMO at Lazada, Aspire aims to “reinvent SME banking in Southeast Asia”. The startup will use the capital to boost its financial product offering and strengthen local presence.

KiotViet
Funding: US$6 million in Series A
Investor(s): Jungle Ventures, Traveloka

KiotViet stated that it plans to use the funding to focus on business network expansion to all of Vietnam’s provinces and cities. It also plans to add on its leadership team.

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Image Credit: NESA by Makers on Unsplash

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