Data Vantage | Tech firms inject capital in SE Asian units, DCM invests in CriAT
Edition #312, 28 September 2023
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Several companies have recently injected additional capital into their Southeast Asian subsidiaries to fuel their growth and expansion.
Shanghai-based travel service conglomerate Trip.com has provided additional capital worth [redacted] million to its Singapore-based entity, signalling a push for more aggressive market expansion in the regional market.
The travel tech company announced a partnership with Singapore-based dining platform Chope in July, enabling Southeast Asia-bound travellers to make reservations at over 3,000 restaurants across Singapore, Bangkok, Phuket, Jakarta, and Bali.
Indonesia-headquartered fintech lending firm Kredivo Group also made a similar move, sending $75 million in fresh capital to its Singapore-based subsidiary. Kredivo has invested more than [redacted] million in the Singapore entity.
PayU, the payments and fintech business of global consumer internet group Prosus, has injected [redacted] million into its subsidiary, PaySense, which provides fintech lending solutions to customers in India.
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Other updates from DATA VANTAGE
UNOAsia, the company behind AI-powered digital bank solutions UNOBank, saw its losses surge 149% for the financial year ended December 31, 2022. The company has raised over $40 million in funding and was last valued at more than [redacted] million.
Singapore-based Spark Systems, the company behind the foreign exchange trading platform eFX, reported a 12.7% dip in losses in 2022.
Nuevocor, a Singapore-based company that provides pioneering gene therapies for cardiomyopathies, reported a 147% jump in its net loss for the 12-month period that ended March 31, 2023.
Credit-as-a-service platform CrediLinq.Ai posted a 4.8x increase in its net loss last year.
Credit analytics platform CriAT welcomed DCM to its cap table last week following an investment worth [redacted] million. The latter is a global VC outfit with operations in Silicon Valley, Tokyo and Beijing, managing an estimated $4.2 billion in assets.
B2B restaurant tech startup Glife has allotted new ordinary shares worth [redacted] million to chief marketing officer Benjamin Yang.
France-based family-owned impact investor Capelan has invested $460,000 in Southeast Asia-focused turnkey hybrid microgrid solutions provider Canopy Power.
As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits
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