Southeast Asian e-commerce company Lazada received fresh funding of $912.5 million from parent company Alibaba Singapore this week, show regulatory filings.
The latest capital injection follows a $378.5 million investment by Alibaba in May and brings Lazada’s year-to-date funding to $1.3 billion. This is the largest inflow since June 2020, when the Chinese company had invested $1.3 billion in Lazada.
Alibaba, which bought Lazada in 2016, was said to be in talks earlier this year to raise at least $1 billion for Lazada before shelving talks with potential investors after a disagreement over the Southeast Asian firm’s valuation.
Meanwhile, Philippine fintech giant Voyager Innovations received $6.6 million in new funding from Jumel Holdings, Inc. last week.
The funding follows a $210 million round announced in April, which valued Voyager at nearly $1.4 billion. The round was backed by investors including Philippine telecom major PLDT, SIG, Tencent Holdings and International Finance Corporation (IFC).
Singapore sovereign wealth fund GIC had also participated in the financing through a joint vehicle with private equity firm KKR.
Other updates from DATA VANTAGE
Talent and recruitment startup Glints received $49.45 million this week from several investors as part of a $50 million Series D round announced on Tuesday. PERSOL Holdings contributed $16.5 million, while DCM Ventures and Lavender Hill invested $10 million each in the round.
Liminal, a Singapore-based startup that offers the infrastructure to secure digital assets, allotted shares worth $4.65 million this week to investors including Elevation Capital, LD Capital, Woodstock and Nexus Ventures. The startup had announced its $4.7 million seed round in May.
Lead investor Elevation Capital invested $2.5 million in the round.
Temasek Holdings and HSBC on Tuesday announced the launch of Pentagreen Capital, a sustainable infrastructure debt financing company, with a joint commitment of $150 million. Regulatory filings show the new venture received an aggregate of $4.3 million this week from its parent entities, bringing its total funding to nearly $5 million.
E-commerce enabler SCI Ecommerce received $1 million from Raymond Zage, the founder and CEO of Tiga Investments, this week. The transaction brings the startup’s financing in an ongoing round to $23.4 million.
Singapore-based financial advisory company IPP Financial Advisers (IPPFA) posted revenue of $52 million for the financial year ended Dec 31, 2021, a nearly 35% increase over the previous year. FWD, the insurance company founded by Hong Kong billionaire Richard Li, owns a 40% stake in the company.
Mighty Bear Games, a Singapore-based studio that builds multiplayer online mobile games, reported a 75% year-on-year jump in its revenue for the financial year ended Dec 31, 2021. However, the company’s profit before interest plunged 26% during the period. The startup is led by Simon Davis, a seasoned gaming professional and former exec at game publishers such as King, Ubisoft and Bigpoint.
Singapore-based cybersecurity firm Horangi reported a 47% surge in its 2021 revenue. Founded by former Palantir cybersecurity experts Paul Hadjy and Lee Sult in 2016, the startup is backed by Monk’s Hill Ventures and Right Click Capital.