When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. She did not want debt she could not afford to repay. The Australian company, owned by Twitter founder Jack Dorsey’s Block Inc, cut her limit to A$2,000… Continue reading Australia’s BNPL sector may soon come under consumer credit regulation
Author: Deal Street Asia Online News
Singapore-based EDBI CEO Chu Swee Yeok leaving to set up new fundChu will be replaced by EDBI’s managing partner, Paul Ng.
Singapore-based EDBI’s chief executive officer and president, Chu Swee Yeok, is leaving the venture capital firm to start a new fund, according to a statement on Monday. Chu will be replaced by EDBI’s managing partner, Paul Ng, a longtime senior executive who has led investments in information and communications technology (ICT) globally and held leadership… Continue reading Singapore-based EDBI CEO Chu Swee Yeok leaving to set up new fundChu will be replaced by EDBI’s managing partner, Paul Ng.
India’s Table Space said to have raised $300m from global PE firm Hill House
Table Space, a flexible office operator in India, has raised around $300 million in fresh funding as it looks to expand its operations across the country, per a report by The Economic Times. The corpus will be pumped in by global private equity (PE) firm Hillhouse Capital in two tranches, the report stated, quoting sources.… Continue reading India’s Table Space said to have raised $300m from global PE firm Hill House
Gojek, ComfortDelGoro to share a ride in Singapore
Indonesian superapp operator Gojek has teamed up with Singapore’s largest taxi operator, ComfortDelGoro, to explore ways to address challenges affecting the point-to-point (P2P) transport industry in the city-state, including driver shortage, according to a statement on Monday. As part of the collaboration, Gojek users will be able to book ComfortDelGro taxis via the Gojek app.… Continue reading Gojek, ComfortDelGoro to share a ride in Singapore
IFC weighs $55m debt financing for TPG-backed Fourth Partner Energy
International Finance Corporation (IFC), a member of the World Bank Group, is considering a $55-million debt financing for Indian solar panel provider Fourth Partner Energy, according to a disclosure. The proposed loan will help finance the onsite and offsite solar and wind-power plants being built by Fourth Partner across India at an estimated cost of… Continue reading IFC weighs $55m debt financing for TPG-backed Fourth Partner Energy
Indonesia extends loan relief for some pandemic-hit sectors
Indonesia has extended loan forbearance for businesses such as accommodation as well as the textile and footwear industries that are yet to recover from the impact of the COVID-19 pandemic, the country’s financial regulator said on Monday. The Financial Services Authority (OJK) has since March 2020 provided incentives to banks to restructure loans for debtors… Continue reading Indonesia extends loan relief for some pandemic-hit sectors
Tempo Automation merges with S Korean SPAC ACE ConvergenceACE Convergence raised $230m in July 2020.
Tempo Automation, a US-based electronics manufacturer, has agreed to go public through a merger with ACE Convergence Acquisition, a special purpose acquisition company (SPAC) sponsored by Korean PE firm ACE Equity Partners. ACE Convergence Acquisition is the first SPAC sponsored by a Korean manager. The blank check company raised $230 million in July 2020. Go… Continue reading Tempo Automation merges with S Korean SPAC ACE ConvergenceACE Convergence raised $230m in July 2020.
Indonesian content creator startup TipTip raises $13m led by East Ventures
Indonesian content creator platform TipTip has raised $13 million in a Series A funding round led by East Ventures to accelerate platform adoption and diversify its product offerings. Vertex Ventures, SMDV, B.I.G. Ventures and prominent angels joined the round, the company said in a statement on Monday. TipTip was founded by Albert Lucius in 2021.… Continue reading Indonesian content creator startup TipTip raises $13m led by East Ventures
Vietnam’s grocery platform Cooky bags $4.5m from Nextrans, Do Ventures
Vietnamese e-grocery shopping platform Cooky has raised $4.5 million in a funding round led by Korea-based investment firm Nextrans and local venture capital firm Do Ventures, according to an announcement. Cooky was started by Minh Dang and Dai Nguyen who were the founding members of Vietnam’s pioneer food delivery player Foody. After successfully exiting Foody… Continue reading Vietnam’s grocery platform Cooky bags $4.5m from Nextrans, Do Ventures
VinaCapital defers $160m worth PE deals due to market uncertaintyThe firm had signed legal documents to invest the sum across two projects.
Vietnam-based asset management firm VinaCapital has postponed investments worth about $160 million in two private equity projects due to unfavourable market conditions. The firm had signed legal documents to invest about $100 million and $60 million in each project since the start of July but has now decided to postpone the deals with a hope… Continue reading VinaCapital defers $160m worth PE deals due to market uncertaintyThe firm had signed legal documents to invest the sum across two projects.