Malaysia’s P2P total financing to reach RM1b in 2020

DOMESTIC peer-to-peer (P2P) financing industry is expected to exceed RM1 billion in 2020, said the Funding Societies Malaysia. Co-founder and CEO Wong Kah Meng (picture) said with the total financing for the industry standing at RM521 million last year, 2020 poised to record more growth. “As the Malaysian government seeks to boost micro, small and medium enterprises’ (MSMEs) GDP contribution…

AMTD, Xiaomi, Funding Societies, SP Group join Singapore digibank Race

Hong Kong-based investment banking firm AMTD Group, Xiaomi consumer finance arm Xiaomi Finance, Singapore government-owned SP Group, and crowdfunding startup Funding Societies officially announced they have submitted an application for a digital wholesale banking license in Singapore. The consortium, led by AMTD, focuses its bid on small and medium-sized enterprises in all stages of growth in Southeast Asia and Greater…

Here’s how the Singapore startup scene will look like in 2020

2019 was a significant year for the Singapore startup scene for several reasons. On a positive note, Carousell’s merger with classified firm 701Search lifted its value to S$1.2 billion, showing that born-and-bred Singaporeans can grow unicorns – companies with a valuation of over S$1 billion - and can compete in the big league. On the downside, local grocery seller HonestBee…

Medtech startup eko.ai raises US$4m in funding round co-led by Sequoia India, EDBI

MEDTECH startup eko.ai has raised US$4 million in a funding round co-led by Sequoia India and Singapore investment fund EDBI. Partech Ventures, SGInnovate and Startup Health also participated in the funding round, the heart disease detection firm said on Tuesday in a press statement. The funds will be used to grow eko.ai's development team and accelerate the firm's US and…

Li Ka-shing leads funding round for Hong Kong fintech startup

Tycoon Li Ka-shing, the former chairman of CK Hutchison Holdings, has led a new funding round for MioTech, a Hong Kong-based startup that uses artificial intelligence to generate data for investors. Li's investment company, Horizons Ventures, led MioTech's previous $7 million funding round in 2017. It was joined this time by a publicly listed media company, said Jason Tu, co-founder…

Singapore’s EV Growth makes final close of debut fund at $250m

Singapore-headquartered venture capital firm EV Growth announced that it has made the final close of its reopened first fund at $250 million, exceeding the initial target of $150 million. DealStreetAsia reported in May that the firm, a joint venture between Sinar Mas, East Ventures, and Yahoo! Japan, has made a final close of the fund at $200 million. The firm,…

Tamar Schapira of SenseIT wins the best women-led startup in 2019

Tamar Schapira of SenseIT was declared the winner of the final of the Next Women Female Founders Force Program on 19 December 2019. She received the prize from Peter Potman, Deputy Director General of Foreign Economic Relations at the Ministry of Foreign Affairs during the Hearst HQ event. Tamar Schapira will gain access to a network of more than 150…

Rivian races ahead of other EV startups with $1.3 billion in new funding

Michigan-based EV startup Rivian has announced a massive new $1.3 billion financing round led by T. Rowe Price — one that includes existing investors like Amazon and Ford. It’s the fourth time Rivian has raised money this year, following an Amazon-led $700 million raise in February, a $500 million investment from Ford in April, and $350 million from Cox Automotive…

Dental cosmetics startup Zenyum bags US$13.6m in Series A funding

Zenyum, a dental cosmetics startup founded in Singapore, raised $18.57m (US$13.6m) in its Series A funding round from RTP Global, Sequoia India, TNB Aura, Enterprise Singapore’s investment arm SEEDS Capital and other investors, according to an announcement. Zenyum was founded in 2018 by Julian Artopé and Frederik Krass. It leverages the power of technology and a fast-growing network of dentists…

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