In February, digital transformation and social impact continue to take centre stage in startup investments

Last month, we covered at least four notable acquisitions in the Southeast Asian tech startup ecosystem, involving startups from various sectors and markets. In Indonesia, there was the acquisition of B2B e-commerce platform Bizzy Digital by new retail platform Warung Pintar for US$45 million, as part of the latter’s effort to expand its offering to […]

Coronavirus latest: Philippines logs 1st South African variant cases

Nikkei Asia is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan. Global cases have reached 114,414,597, according to Johns Hopkins University in Baltimore. The worldwide death toll has hit 2,537,449. For more information about the spread of COVID-19 and the progress of vaccination around the world, please […]

Philippines' young REIT market snubbed by foreign investors

MANILA — The first year of loosened regulations on real estate investment trusts in the Philippines has brought one successful listing but little of the foreign capital that the government had hoped to attract. The first REIT to go public under the relaxed criteria implemented in January 2020 was AREIT, backed by the Ayala conglomerate. […]

Philippines starts COVID vaccinations, courtesy of China

MANILA — The Philippines began COVID-19 vaccinations on Monday using jabs donated by Beijing, giving the country’s immunization program and diplomatic ties with China a shot in the arm. The rollout of Chinese-made vaccines comes as President Rodrigo Duterte’s government faces criticism for lagging behind the region in vaccination drives. Duterte plans to visit China […]

Ecosystem Roundup: Despite e-payments rise, MAS says S’pore not aiming to be cashless society; Is space-tech taking off in SEA?

GIC to buy shares worth up to US$225mn in gojek-backed Bank Jago; The amount would net GIC an approximate 9% stake in the company; In Dec 2020, gojek increased its stake in the firm to 22% as part of a strategic tie-up that aims to offer financial services to merchants and drivers in the country. […]

FoodPanda hot on untapped food delivery potential, cold on need to be 'super app'

FoodPanda believes there still are inroads to be made in the food delivery market, which potential remains largely untapped across Asia-Pacific. It hopes to do so not by building a “super app” like several of its contemporaries are doing, but by using technology to diversify services with “strategic” synergies.  The Singapore-headquartered food delivery platform processes […]

Pixibo raises US$1.4M to help fashion e-tailers reduce product return rates

Pixibo, a Singapore-based fashion-tech startup, has raised US$1.4 million in a Series A extension round from early-stage VC firm Atlas Ventures, reports TechInAsia, citing sources. The startup will use the funds to enhance its service and hire for positions across sales and engineering teams. Pixibo also plans to scale its retail store services by the end […]

Ecosystem Roundup: Singapore gets new maritime startup fund, ZASH buys Lomotif, why Indonesia’s fintech scene is thriving

Singapore-based digital banking network Tyme raises US$110mn Series B; Backers are Apis Partners, Gokongwei family-led JG Summit Holdings; JG Summit and Tyme will apply for a digital bank license in Philippines; As per UnaFinancial, Philippines is one of the markets in Asia with huge potential for the growth of neobank. More here Digital fundraising: Ask […]

How blockchain-powered fintech services can improve financial inclusion

Countless articles online tout the role of fintech in promoting financial inclusiveness. Innovative startups have supposedly developed ways to make it easy for just about anyone to use financial solutions and be part of a national or international financial system. However, until now not many new financial services make it genuinely easy for new users […]

South Africa's Tyme to set up digital bank in the Philippines

MANILA — South African digital banking challenger Tyme is preparing to launch services in the Philippines in partnership with one of the biggest local conglomerates, a move the bank hopes will lay the groundwork for its Southeast Asian expansion. Tyme announced the plan after closing a $110 million Series B funding round that included a […]

US to sell Philippines arms despite no human rights reforms

NEW YORK — The United States has reaffirmed there are “no restrictions” on arms sales to the Philippines days after Manila called for more robust military aid as the two nations open negotiations to renew a key military agreement. “We will continue to look for ways to further strengthen and advance security cooperation that furthers […]

What to do when your unicorn loses its sheen

The past month has been interesting for the Philippine startup ecosystem — with a report on the massive capital raise by a startup, an update on the prospectives offered by the archipelago’s digital banking sector, a news report about an edutech startup‘s acceptance into Y-Combinator and another on the regional expansion plan announced by a fintech company. But […]

In brief: India’s Rephrase.ai, Singapore’s Filmplace raise capital

The Filmplace team Filmplace raises US$220,000 to help influencers, media houses shoot content in unique rented spaces Investors: New York’s Admiralty Holdings. What the funding will be used for: Bolster infrastructure, marketing capabilities and tech solutions to expand further into Southeast Asia. About Filmplace: Based in Singapore, Filmplace is a platform that connects brands and the […]

[Updated] ErudiFi raises US$5M Series A to grow its ‘study now, pay later’ model in Indonesia, Philippines

The ErudiFi team Updates: This article has been updated with more details on the platform as communicated by co-founder Naga Tan ErudiFi, a startup that provides access to affordable education financing in Southeast Asia, has raised US$5 million in Series B capital, co-led by Monk’s Hill Ventures and Qualgro. The Indonesia-based startup will use the […]

Digital bank Tyme raises $110m, to apply for license in the Philippines

Tyme raises US$110M Series B, targets digital banking license in the Philippines

Tyme, a Singapore-based digital banking network targeting emerging markets, announced today it has raised US$110 million in Series B capital from Apis Partners Growth Fund II and Gokongwei family-led JG Summit Holdings of the Philippines. A portion of the new funds will be used by Tyme to launch a digital bank in the Philippines, as […]

Philippines' China-backed telco newcomer clears tests for launch

MANILA — The China-backed company intent on taking on the Philippines’ telecom duopoly is finally set to start commercial operations next month after passing a test of its network. The technical audit was the last major hurdle for Dito Telecommunity, which has promised to invest $5 billion to break into a market dominated by PLDT and […]

Philippines to install its first stormproof wind turbine

TOKYO — Japanese wind power startup Challenergy is planning to roll out its first typhoon-proof turbine this year, targeting sales to remote islands such as those in the Philippines and Guam, and aiming to sell up to 100 units next year. The Tokyo-based company is backed by corporate investors, including Mitsui Sumitomo Insurance Venture Capital […]

Ecosystem Roundup: Philippines set to take rare top spot for IPOs in SEA; Why Robert Downey invested in a Singapore startup

Korean retailer Shinsegae Group invests in Grab; As per DealStreetAsia sources, the funding has been routed through the group’s newly-formed corporate VC arm Signet Partners; The retailer continues to spot significant opportunities in Grab’s mobile platform adoption. More here Fast pace of digital adoption spurs Beenext to ramp up early-stage investments in Vietnam; Beenext will […]

From our community: All the Clubhouse hype, words of solace from Vertex VC and more….

Have you tried Clubhouse yet? Well, I am still waiting to be invited. It sort of reminds me the time in college when we waited to get on a guest list of the city’s elite clubs. Speaking of ageing, one of our contributors shares his excellent view on why mid-career professionals make good entrepreneurs. And […]