Several Indonesian multifinance companies could be up for grabs amid pressure to meet the financial regulator’s minimum capital requirement of 100 billion rupiah ($6.38 million). Bambang Budiawan, head of the non-bank financial industry supervision department at the Indonesia Financial Services Authority (OJK), said 30% of the 154 multifinance firms in the country will need to… Continue reading Indonesia’s BNPL hopefuls may land a good bargain with multifinance firms
Author: Deal Street Asia Online News
Indonesian marketplace AgriAku raises $5m more in Series A funding
AgriAku, a Jakarta-based B2B marketplace for farmers, has raised $5 million more in its Series A funding extension, according to ACRA filings accessed by DealStreetAsia – DATA VANTAGE. The Series A1 investors include TNB Aura, Indogen Capital, Gentree Fund, and existing investor Go-Ventures. Go to Source
The LP View: Despite slowdown, LPs bullish on long-term India growth story
Despite global economic uncertainty and a slowdown in deal activity this year, limited partners (LPs) continued to bet big on India, hoping to garner returns from the country’s entrepreneurial ecosystem in the long run. During the first nine months of 2022, LPs committed $7.7 billion to India-focused private equity (PE) and venture capital (VC) firms,… Continue reading The LP View: Despite slowdown, LPs bullish on long-term India growth story
Macau’s 6 casino operators get new licences, Malaysia’s Genting out
Macau‘s government said on Saturday its six incumbent casino operators would be given new licences to operate in the world’s biggest gambling hub from January, with Malaysian operator Genting missing out on a spot. The highly anticipated announcement signals stability and continuity for the Macau operators who have invested more than $50 billion in the Chinese special… Continue reading Macau’s 6 casino operators get new licences, Malaysia’s Genting out
India regulator asks Paytm to reapply for payment aggregator licenceThe company said it does not expect the delay in securing the licence to impact it…
India’s banking regulator has declined a payment aggregator licence for the One 97 Communications Ltd unit that owns the popular Paytm brand, asking it to reapply within 120 days after meeting certain conditions. The regulator asked Paytm Payments Services Ltd, a 100% subsidiary of One 97 Communications, to reapply after getting the necessary approvals for… Continue reading India regulator asks Paytm to reapply for payment aggregator licenceThe company said it does not expect the delay in securing the licence to impact it…
InnoVen, Stride invest in RenewBuy and India deals worth $127m
Insurtech startup RenewBuy has raised about $8.3 million (Rs 68 crore) in debt funding from InnoVen Capital and Stride Ventures. According to a report in Entrackr, the board at Renewbuy has passed a special resolution to issue 6,000 non-convertible debentures(NCDs) at an issue price of Rs 1,00,000 each and 11,910 CCPS at an issue price of… Continue reading InnoVen, Stride invest in RenewBuy and India deals worth $127m
BOJ to conduct survey on climate finance annually to nurture ESG market
Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said on Sunday the central bank will conduct a survey annually of financial institutions and companies, seeking ways to nurture the country’s growing climate finance market. An initial survey in August showed “strong demand” in Japan for “green” bonds and other environmental, social and governance (ESG) debt instruments, Amamiya said. Some respondents said they faced challenges in obtaining… Continue reading BOJ to conduct survey on climate finance annually to nurture ESG market
Binance CEO Changpeng Zhao says don’t fight crypto, regulate it
Binance Chief Executive Officer Changpeng Zhao said on Friday regulation rather than opposition of the crypto sector is a better option for world governments as digital currencies become more mainstream. Regulation of crypto currencies has come into sharp focus following the collapse of several platforms, culminating in the crash of the FTX currency exchange earlier this month. “I think most governments now… Continue reading Binance CEO Changpeng Zhao says don’t fight crypto, regulate it
India: Angel network Kyt Ventures planning to launch $12-18m VC fund in a yearThe fund is looking to invest in 25-30 Indian startups over 18-24 months…
India-focused angel network Kyt Ventures is in the process of launching a venture capital (VC) fund with a corpus of $12-18 million (Rs 100-150 crore) within a year, a source familiar with the matter told DealStreetAsia. The fund is looking to invest in 25-30 Indian startups and deploy funds over 18-24 months, the source said.… Continue reading India: Angel network Kyt Ventures planning to launch $12-18m VC fund in a yearThe fund is looking to invest in 25-30 Indian startups over 18-24 months…
US bans Huawei, ZTE equipment sales citing national security riskThe move represents Washington’s latest crackdown on the Chinese tech giants.
The Biden administration has banned approvals of new telecommunications equipment from China’s Huawei Technologies and ZTE because they pose “an unacceptable risk” to U.S. national security. The U.S. Federal Communications Commission said on Friday it had adopted the final rules, which also bar the sale or import of equipment made by China’s surveillance equipment maker Dahua Technology… Continue reading US bans Huawei, ZTE equipment sales citing national security riskThe move represents Washington’s latest crackdown on the Chinese tech giants.