Southeast Asia

Ajaib raises $65M Series A extension led by Ribbit Capital, increasing the round’s total to $90M

Ajaib, the Indonesian investment app, has added $65 million to its Series A, bringing the round’s new total to $90 million. The extension was led by Ribbit Capital, the fintech investor that also le

YC-backed Homebase is an alternative to traditional mortgages for home buyers in Vietnam

The home ownership rate in Vietnam is about 90%, but many millennials are struggling to join that number. Rising property prices in cities, coupled with a lack of financing options, mean more people h

UI-licious gets $1.5M led by Monk’s Hill Ventures to simplify automated UI testing for web apps

UI-licious, a Singapore-based startup that simplifies automated user interface testing for web applications, announced today it has raised $1.5 million in pre-Series A funding. The round was led by Mo

Indonesian social commerce app KitaBeli gets $10M led by Go Ventures

KitaBeli, an Indonesian social commerce app for group buying, announced today it has raised a $10 million Series A. The round was led by Go Ventures, whose cornerstone investor is Gojek, with particip

Jeff raises $1M to build alternative credit scoring and other fintech products for Southeast Asia

According to the World Bank, more than one billion people in South and East Asia lack access to a bank account. For many, this makes it difficult to secure loans and other services because they don’

Indonesian savings and investment app Pluang gets $20M in pre-Series B funding

Indonesia-based fintech Pluang announced today it has raised $20 million in a pre-Series B round led by Openspace Ventures, with participation from Go Ventures and other returning investors. The compa

Singapore-based M Capital Management closes $30.85M debut fund to invest in Southeast Asian startups

M Capital Management, a Singapore-based venture capital firm, announced today it has closed its debut fund, M Venture Partners (MVP), totaling $30.85 million USD. It plans to invest in 40 early-stage

Financial API provider Brick is building the infrastructure for open banking in Southeast Asia

The adoption of financial apps is surging in Southeast Asian markets like Indonesia, the region’s most populous country. Founded by fintech veterans last year, Brick develops APIs that make it easie

Indonesian logistics startup SiCepat raises $170 million Series B

SiCepat, an end-to-end logistics startup in Indonesia, announced today it has raised a $170 million Series B funding round. Founded in 2014 to provide last-mile deliveries for small merchants, the com

Payfazz invests $30M in Xfers as the two Southeast Asian fintechs form Fazz Financial Group

Payfazz and Xfers, two startups that want to increase financial inclusion in Southeast Asia, announced today they have joined forces to create a new holding entity called Fazz Financial Group. As part

China’s cosmetics startup Yatsen to buy 35-year-old skincare brand Eve Lom

In China’s cosmetics world, where foreign brands were historically revered, indigenous startups are increasingly winning over Gen Z consumers with cheaper, more localized options. One of the ris

Indonesian supply chain startup Advotics raises $2.75M led by East Ventures

The rapid growth of e-commerce in Indonesia, especially during the pandemic, is placing increasing demands on its supply chain infrastructure. But the country’s logistics industry is highly frag

Indonesian payments infra startup Xendit raises $64.6M in Accel-led Series B

Fueled by the COVID-19 pandemic, digital transformation is happening all over the world. And Southeast Asia is no exception. Indonesia’s Xendit, a startup focused on building digital payments infras

Australia-based Employment Hero raises $45M AUD for its global expansion

Businesses, and the tech platforms that support their operations, had to adapt quickly to the pandemic. Ben Thompson, co-founder and chief executive officer of human resources platform Employment Hero

Singapore-based Raena gets $9M Series A for its pivot to skincare and beauty-focused social commerce

Raena was founded in 2019 to create personal care brands with top social media influencers. After several launches, however, the Singapore-based startup noticed an interesting trend: customers were or

Rainmaking launches Motion Ventures to boost innovation in the maritime industry

A new fund has launched, with backing from the Singaporean government, to support tech innovation for the maritime industry. Called Motion Ventures, it is targeting $30 million SGD (about $22.8 millio

Plant-based food startup Next Gen lands $10M seed round from investors including Temasek

Singapore is quickly turning into a hub for food-tech startups, partly because of government initiatives supporting the development of meat alternatives. One of the newest entrants is Next Gen, which

ErudiFi raises $5 million Series A to give students in Southeast Asia more education financing options

ErudiFi wants to help more students in Southeast Asia stay in school by giving them affordable financing options. Headquartered in Singapore, with operations in Indonesia and the Philippines, the star

Indonesian investment platform FUNDtastic lands $7.7 million Series A

Despite the market impact of the COVID-19 pandemic, retail investing is increasing in Indonesia, especially among people aged 18 to 30. Today, investment platform FUNDtastic announced it has raised a

GajiGesa, a fintech startup serving underbanked Indonesian workers, raises $2.5 million seed round

GajiGesa, a fintech company that offers Earned Wage Access (EWA) and other services for workers in Indonesia, has raised $2.5 million in seed funding. The round was co-led by Defy.vc and Quest Venture
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