PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment

PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment

PayU, the Naspers owned fintech firm that specializes in emerging markets, is broadening its global reach into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment. Naspers is best known for its payments and fintech business in markets like India, Latin America, Africa and Eastern Europe, but Read more about PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment[…]

Jungle Ventures hits $175M first close on its third fund for Southeast Asia

Jungle Ventures hits $175M first close on its third fund for Southeast Asia

Southeast Asia’s startup ecosystem is set to get a massive injection of funds after Jungle Ventures reached a first close of $175 million for its newest fund, TechCrunch has come to learn. Executives at the Singapore-based firm anticipate that the new fund, which is Jungle’s third to date, will reach a final close of $220 Read more about Jungle Ventures hits $175M first close on its third fund for Southeast Asia[…]

Match Group restructures exec team with focus on Asia

Match Group restructures exec team with focus on Asia

Tinder parent company Match Group, also the owner of a suite of dating apps including OKCupid, Meetic, Match, PlentyofFish and others, announced this morning plans to restructure its leadership team in order to better focus on the market opportunities for dating apps in Asia. Specifically, the company has appointed three new General Managers in Asia Read more about Match Group restructures exec team with focus on Asia[…]

On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn

On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn

Lalamove, a Hong Kong-based on-demand logistics startup, has closed a $300 million Series D round as it seeks expansion across Asia. In doing so, the company has officially entered the unicorn club. Founded in 2013 by Stanford graduate Shing Chow, Lalamove provides logistics and delivery services in a similar style to ride-hailing apps like Uber Read more about On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn[…]

Netflix rival Iflix offloads its Africa business to focus on Asia

Netflix rival Iflix offloads its Africa business to focus on Asia

Iflix, the emerging market Netflix competitor that’s backed by Sky, is leaving Africa to double down on its business in Asia. The Malaysia-based company announced today it has sold the remaining shares in its Africa business — Kwesé Iflix — to Econet Group, the telecom firm that is already an investor in the business. The deal size Read more about Netflix rival Iflix offloads its Africa business to focus on Asia[…]

African fintech startup Jumo raises $12.5M more to fund Asia expansion

African fintech startup Jumo raises $12.5M more to fund Asia expansion

Months after a big round, African fintech startup Jumo has pulled in a fresh $12.5 million to add more fuel for its expansion into Asia Pacific. The new investment comes from London-based investment fund Odey Asset Management, and it is an extension to a $52 million round that closed back in September. The deal takes Jumo, Read more about African fintech startup Jumo raises $12.5M more to fund Asia expansion[…]

Grab invests $100M into India’s OYO to expand its budget hotel service in Southeast Asia

Grab invests $100M into India’s OYO to expand its budget hotel service in Southeast Asia

Southeast Asian ride-hailing firm Grab has made its most ambitious investment to date after it backed India-headquartered budget hotel network OYO to the tune of $100 million. The investment was part of a $1 billion Series E round led by SoftBank’s Vision Fund that closed back in September. The deal was first made public via a Read more about Grab invests $100M into India’s OYO to expand its budget hotel service in Southeast Asia[…]