Smile API, a Philippines-based startup that provides employment data, has raised fresh funding from US-based venture firm Afore Capital, per the company statement. The startup did not disclose the amount it raised for the pre-Series A round. It earlier raised seed funding from CreditEase and Plug and Play. Go to Source
Author: Deal Street Asia Online News
Garuda Indonesia wins creditors’ approval for $9b debt resettlement plan
Garuda Indonesia’s proposal for restructuring its more than $9 billion of debt won the approval on Friday from the vast majority of the airline’s creditors, officials said, staving off the risk of bankruptcy at the embattled flag carrier. More than 90% of creditors who attended Friday’s vote on the plan at a Jakarta court accepted… Continue reading Garuda Indonesia wins creditors’ approval for $9b debt resettlement plan
Morgan Stanley proposes new China board for multinational listings …
The head of Morgan Stanley’s China securities business proposed the setting up of an international board in China to allow offshore-listed Chinese companies and foreign firms to list in the domestic market. Jing Qian, CEO of Morgan Stanley Securities (China), also told the official Shanghai Securities News in an interview that China should consider lowering the profitability threshold for… Continue reading Morgan Stanley proposes new China board for multinational listings …
Silicon Valley-based Scale Asia Ventures sets up $30m maiden fund …
Scale Asia Ventures (SAV) has launched its $30-million inaugural early-stage fund, as the Silicon Valley-based venture capital (VC) firm seeks to bring its Asian-American network and resources to portfolio companies. Beyond early-stage funding, the fund plans to fuel its portfolios with an additional $100 million in later-stage funding directly from its limited partner (LP) base… Continue reading Silicon Valley-based Scale Asia Ventures sets up $30m maiden fund …
China’s central bank accepts Ant’s application for financial holding company
China’s central bank has accepted Ant Group’s application to set up a financial holding company, three people with knowledge of the matter said, a key step in finishing a year-long revamp of Jack Ma’s fintech business and reviving its stock market debut. The People’s Bank of China’s (PBOC) expected approval of the plan is the… Continue reading China’s central bank accepts Ant’s application for financial holding company
People Digest: Credit Suisse loses HK investment bankers; Clifford Chance names new partner
Credit Suisse has lost at least four investment bankers in Hong Kong, while international law firm Clifford Chance has appointed Liyong Xing as a partner. Credit Suisse loses Hong Kong investment bankers Credit Suisse has lost at least four investment bankers in Hong Kong, per a report by finews.asia on Friday. The departures were from… Continue reading People Digest: Credit Suisse loses HK investment bankers; Clifford Chance names new partner
Indian social media app ShareChat closes $520m round at $5b valuation
Bengaluru-based social media platform ShareChat, operated by Mohalla Tech Pvt Ltd, has closed a $520-million multi-tranche funding round at a valuation of $5 billion, per its announcement on Thursday. While the first tranche worth $266 million was raised in December last year from Alkeon Capital, Temasek Holdings, HarbourVest, Moore Strategic Ventures, and India Quotient, the… Continue reading Indian social media app ShareChat closes $520m round at $5b valuation
Australia’s Latitude Group terminates buyout offer for Humm’s BNPL business
Australian digital payment and lending firm Latitude Group Holdings on Friday terminated its A$335 million ($235.97 million) offer to buy Humm Group Ltd’s consumer unit that includes its buy now, pay later (BNPL) business. Shares of Humm Group fell as much as 11.3% to A$0.510, hitting their lowest since March 2020 and extending losses to… Continue reading Australia’s Latitude Group terminates buyout offer for Humm’s BNPL business
India Digest: FanClash snags funds; Innoviti raises more capital for Series D
India’s esports startup FanClash and payments player Innoviti have announced new fundraising. FanClash raises $40m from Sequoia, others India’s esports startup FanClash has raised $40 million in its Series B round from Sequoia Capital India, Alpha Wave Ventures (formerly known as Falcon Edge), Info Edge India and Matic Networks. The firm raised $10 million in… Continue reading India Digest: FanClash snags funds; Innoviti raises more capital for Series D
Sequoia Capital India grapples with fallout from governance snafus
Sequoia Capital’s India partners, caught out early this year by governance scandals at startup companies in its portfolio, assured investors at an April meeting in London that these “lowlights” were mostly behind it, according to three people familiar with the discussions. But two months later, Sequoia, a major venture capital player in India, is still… Continue reading Sequoia Capital India grapples with fallout from governance snafus