Fintech startup Bold Finance has raised $1.5 million in its seed funding round led by venture capital firm Kae Capital, per an announcement. The round also saw participation from existing investor Antler India and several angel investors, including Nitin Gupta (Uni Cards), Ishpreet Gandhi (Stride Ventures), Shashikant Dola (McKinsey & Company), Tushar Mehndiratta (Avail Finance),… Continue reading Kae Capital backs Bold Finance and other India deals worth $183mExisting investor Antler India also joined Bold Finance’s funding round.
Author: Deal Street Asia Online News
Indonesian tech giant GoTo looking to lay off 10% of its workforce
Indonesian tech giant GoTo’s expenses on salaries and employee benefits are significantly higher than other costs, which seem to have driven the company to lay off 10% of its employees, multiple sources told DealStreetAsia. Bloomberg reported it first that GoTo plans to cut over 1,000 jobs. Go to Source
IFC mulls investing in StanChart Pakistan’s unfunded risk facility
Mars W. Mosqueda Jr. 11 November, 2022 World Bank Group member International Finance Corporation (IFC) has proposed to invest in an unfunded risk participation facility of up to $200 million with Standard Chartered (Pakistan) Limited (SCBPL). Risk participation is an agreement where a bank sells its exposure to a contingent obligation to another financial institution.… Continue reading IFC mulls investing in StanChart Pakistan’s unfunded risk facility
Vietnamese financial services firm F88 raises $60m loan from Lending Ark, Lendable
Mekong Capital-backed Vietnamese financial services firm F88 has secured a loan of $60 million from Lending Ark Asia Secured Private Debt Funds and Lendable, according to a statement. Lending Ark, the private debt business of Hong Kong-based alternative investment firm CLSA Capital Partners, has contributed a sum of $50 million towards the loan financing. Prior… Continue reading Vietnamese financial services firm F88 raises $60m loan from Lending Ark, Lendable
PE giant Carlyle files to raise sixth Asia buyout fund
Global private equity firm Carlyle Group Inc has officially filed to raise its sixth Asia fund, which was earlier touted as its biggest buyout vehicle for this region. In November last year, media reports indicated that Carlyle was seeking $8-10 billion for the Carlyle Asia Partners VI fund. In May this year, Bloomberg said the… Continue reading PE giant Carlyle files to raise sixth Asia buyout fund
Crypto groups scramble to prove stable reserves as investor confidence slumpsGrowing concerns over FTX’s finances have shaken the sector.
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Indonesia’s founder-turned-angel tribe grows on back of bustling startup ecosystem
Indonesian startup founders are doubling down on the country’s high octane ecosystem by backing the next generation of entrepreneurs, through solo investments, setting up angel networks with peers, and co-investing with venture capital firms. Even as sentiment in the broader industry weakens, angel investment networks are becoming more active in the region with the emergence of… Continue reading Indonesia’s founder-turned-angel tribe grows on back of bustling startup ecosystem
India adds fewer unicorns this year as investors tighten purse strings
The number of Indian startups entering the unicorn club this year may well be just half of last year, going by trends so far. While there were at least 45 unicorns in 2021 with a combined valuation of a little over $97 billion, there have been only 24 till end-October this year with a combined… Continue reading India adds fewer unicorns this year as investors tighten purse strings
Canada’s OTPP says any loss from its FTX investment to have limited impact
The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan. OTPP, Canada’s No. 3 pension fund, said it made the investments in FTX International and FTX U.S.… Continue reading Canada’s OTPP says any loss from its FTX investment to have limited impact
Chinese EV maker Nio posts bigger quarterly loss amid higher battery pricesHowever, it expects deliveries to almost double in the current quarter.
Chinese electric automaker Nio Inc on Thursday reported a bigger quarterly loss due to a jump in costs, and said it expects deliveries to almost double in the current quarter. Most Chinese electric vehicle (EV) makers are battling higher battery prices, intensifying competition, and a rise in cost of sales. Sales at Nio, Xpeng Inc and Li Auto Inc have surged in recent quarters on robust demand, helping them emerge… Continue reading Chinese EV maker Nio posts bigger quarterly loss amid higher battery pricesHowever, it expects deliveries to almost double in the current quarter.