FAZZ Financial Group (FFG), the parent company of Indonesian fintech firm PAYFAZZ and Singapore-based payments infrastructure provider Xfers, has secured $60 million so far in an ongoing Series C funding round, according to regulatory filings. The company plans to issue up to 7.7 million Series C shares in two tranches to raise a minimum of… Continue reading FAZZ Financial Group raises $60m in Series C funding so far from Tiger Global, Insignia and others
Author: Deal Street Asia Online News
SGX-listed Olam’s agriculture unit secures $745m loan from UAE banks
Singapore-based agribusiness major Olam Group has secured a 2.74-billion United Arab Emirates (UAE) dirham (approximately $745 million) loan for Olam Agri, its food, feed and fibre subsidiary. Olam Agri subsidiaries Olam Global Agri Pte Ltd and Olam Global Agri Treasury Pte Ltd are also co-borrowers of the financing facility raised from banks in the UAE,… Continue reading SGX-listed Olam’s agriculture unit secures $745m loan from UAE banks
GL Ventures backs Chinese industrial software firm Semi-Tech’s funding rounds
Chinese industrial software developer Semi-Tech has secured 540 million yuan ($80.6 million) across two funding rounds to expand its product offerings with the support of investors including Hillhouse’s GL Ventures. The Series A++ and Series B rounds also attracted the participation of the 100-billion-yuan ($15 billion) China Internet Investment Fund, Hong Kong-listed conglomerate BYD, and… Continue reading GL Ventures backs Chinese industrial software firm Semi-Tech’s funding rounds
Hillhouse, Tencent-backed snack maker Weilong relaunches $500m HK IPOWeilong may launch the IPO in the second half of 2022.
Weilong Delicious Global Holdings Ltd has renewed its draft prospectus as the Chinese spicy snack maker prepares to relaunch an initial public offering (IPO) to seize the opportunity of recovering investor appetite for new shares. Henan-based Weilong refiled a preliminary prospectus on Monday evening in its third attempt to launch an IPO in Hong Kong.… Continue reading Hillhouse, Tencent-backed snack maker Weilong relaunches $500m HK IPOWeilong may launch the IPO in the second half of 2022.
Debt servicing firm Collectius acquires over $800m non-performing loans in Vietnam
Collectius, a Singapore-headquartered pan-Asian NPL restructuring firm, has acquired more than $800 million of non-performing loans (NPLs) in Vietnam, marking its first portfolio in the country since its foray into the market at the end of last year, according to an announcement. The deal includes a combination of credit cards and personal loans, and represents… Continue reading Debt servicing firm Collectius acquires over $800m non-performing loans in Vietnam
Funding Societies acquires Singapore’s CardUp to expand payments service
Online lending platform Funding Societies, better known as Modalku in Indonesia, on Wednesday announced that it is acquiring online card payments startup CardUp for an undisclosed amount as part of efforts to expand payments services. Funding Societies will acquire CardUp’s payments capabilities, including online payments, invoice automation tools, and its licences. CardUp is licenced by… Continue reading Funding Societies acquires Singapore’s CardUp to expand payments service
PetroChina may sell Australian, Canadian assets to stem losses
PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said. PetroChina‘s plan follows a similar strategic shift by smaller state peer CNOOC Ltd, which was… Continue reading PetroChina may sell Australian, Canadian assets to stem losses
China’s CDH Investments sells New Zealand’s The Better Health Company to NestleThe exit comes five years after CDH invested in The Better Health Compa…
Chinese alternative assets manager CDH Investments announced that it has agreed to sell The Better Health Company, one of New Zealand’s leading natural health products firms, to Nestle Health Science. The terms of the transaction, which is expected to close in the fourth quarter of 2022, were not disclosed. The exit comes five years after… Continue reading China’s CDH Investments sells New Zealand’s The Better Health Company to NestleThe exit comes five years after CDH invested in The Better Health Compa…
Ascend Vietnam Ventures closes debut fund at over $50mThe fund is aiming to build the next wave of globally iconic startups emerging from Vietnam.
Venture capital firm Ascend Vietnam Ventures (AVV) has announced it has exceeded the $50 million target for its flagship early-stage venture capital fund, AVV Alpha. DealStreetAsia had earlier reported that AVV was said to be raising a $50-million vehicle. Led by Binh Tran and Eddie Thai, who have worked together since 2015, founding and running… Continue reading Ascend Vietnam Ventures closes debut fund at over $50mThe fund is aiming to build the next wave of globally iconic startups emerging from Vietnam.
HK chatbot developer FreeD eyes SE Asia expansion after raising $15m
FreeD Group, a Hong Kong-based software company that has built artificial intelligence-powered chatbots and recommendation engines for clients including Samsung Electronics and Marriott International, has raised $15 million in a new funding round led by a Daiwa Securities Group fund. Alongside Daiwa ACA APAC Growth, Hong Kong property developer ChinaChem Group and the city government’s… Continue reading HK chatbot developer FreeD eyes SE Asia expansion after raising $15m