Sage and Standard Chartered partner to help SMEs make smarter financial decisions- Press release
Cloud business management solutions provider Sage announced a new partnership with Standard Chartered to provide small and medium-sized enterprises (SMEs) with access to the right tools, knowledge, and funding, to simplify SME banking and support them in making more timely and insight-driven financial decisions at critical stages of their business lifecycle.
Sage CashView is now available to both current and new users of Sage 300 starting with Singapore and Malaysia. The launch of Sage CashView that combines new cash flow reporting tools with a prequalification to apply for business installment loans (BIL) to help SMEs anticipate and address future funding needs is the first tool of their partnership.
The Sage CashView digital dashboard will offer SMEs a user-friendly pictorial view of the business’ key ratios and results at a glance, and a 1-day to 365-days financial forecasting capabilities, to anticipate possible financial roadblocks. Combined with Standard Chartered’s embedded decision framework, a message will appear on the dashboard which will inform users that they are prequalified to apply for the Bank’s business installment loan (BIL).
Standard Chartered will be able to access only the minimum information required for initiating the loan application process, with consent from the user, this feature offers SMEs easier access to working capital without compromising on data security and privacy.
KKR evaluates IPO of Chinese digital marketing firm Cue- [Bloomberg]
KKR & Co. is considering an initial public offering of Chinese digital marketing company Cue Holdings Ltd. that could raise as much as $400 million, people with knowledge of the matter said in a Bloomberg report.
The company is working with financial advisers on the potential share sale, which could take place as soon as the first half of next year, according to the people. It has been considering Hong Kong and the U.S. as potential listing venues, the people said, asking not to be identified because the information is private.
Cue seeks to help Chinese companies with their digital marketing strategy to boost their business growth. Its clients include consumer brands, financial institutions, online gaming companies, and internet service providers.
In August, Cue completed a series A financing round led by Anchor Equity Partners to fund research and development, add-on acquisitions and improvements in Cue’s products and services. KKR, which was Cue’s founding investor, and Princeville Global also participated.
No final decisions have been made, and details of the IPO could change, the people said. A representative for KKR declined to comment.
Game publisher Sky Mavis raises $1.5m funding led by Animoca Brands- [DealStreet Asia]
Singapore- and Vietnam-based blockchain startup Sky Mavis bagged nearly $1.5 million in a funding round led by ASX-listed games and app developer Animoca Brands, according to a DealStreet Asia announcement.
The round was joined by the Korean crypto fund Hashed, Swiss Pangea Blockchain Fund, US-based blockchain solution provider ConsenSys and early-stage VC firm 500 Startups. The lead investor said it subscribed to $420,000 worth of ordinary shares in Sky Mavis in cash and its own shares. It has also signed advisory and collaboration agreements with the owner of blockchain-based game Axie Infinity.
The advisory agreement will see Sky Mavis provide consultation services in the areas of scarcity models, as well as the design, development, and distribution of non-fungible tokens. Sky Mavis will use proceeds from the funding round to complete its offerings within the Axie Infinity universe and launch an app in the first half of 2020.
Also read: Blockchain startup Terra gets funding from HashKey Capital, to expand alliance in Asia
It will also be building technology required to create blockchain-based applications for users in the real world.
Reliance Industries Ltd has increased its stake in US-based SkyTran Inc., a venture-funded technology company that is developing pod car transport systems.
Billionaire Mukesh Ambani-led Reliance said in a stock market disclosure it has increased its stake in SkyTran to 17.3%. It did not disclose the financial details.
Reliance Industries in India hikes stake in US-based futuristic pod car developer SkyTran- [VCCircle]
RIL, through wholly-owned subsidiary Reliance Industrial Investments and Holdings Ltd, picked up a 12.7% stake in SkyTran in October last year. At the time, it had said it had the option of investing an additional US$25 million in the US company.
Founded in 2011, SkyTran says it aims to solve the problem of traffic congestion globally by creating a transport option that is high-speed, scalable and low-cost. The company, which has partnered with National Aeronautics and Space Administration in the US and Israel Aerospace Industries in Israel, has developed the magnetic levitation technology for implementing personal transportation systems.
The proposed SkyTran network would consist of computer-controlled passenger pods running on its patented Passive Magnetic Levitation technology. It will leverage information technology, telecom, lnternet of Things and advanced materials technologies for the purpose.
RIL said its investment in SkyTran is now housed under another unit, Reliance Strategic Business Ventures Ltd.
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