The chances are you may be familiar with Tokopedia, especially after it commanded a $7 billion valuation last November when it raised $1.1 billion from investors like Alibaba and SoftBank’s Vision Fund, but fewer people outside of Indonesia are aware of another sizable local online retail unicorn: Bukalapak. Smaller than Tokopedia in size, the company is […]
View More Indonesian e-commerce unicorn Bukalapak raises $50MCategory: Ant Financial
New policy puts revenue squeeze on China’s payments giants
The era that saw China’s mobile payments providers making handsome interest returns on client money has officially ended. Starting this week, non-bank payments companies must place 100 percent of their customer deposit funds under centralized, interest-free accounts as Beijing moves to rein in financial risks. In the past, third-party payments firms were allowed to hold […]
View More New policy puts revenue squeeze on China’s payments giantsWeChat is quietly ranking user behavior to play catch-up with Alibaba
Over one billion people leave behind trails of information on WeChat every day as they use the messenger to chat, read, shop, hail rides, rent umbrellas and run many other errands. And the Tencent app has quietly started using this type of signal to determine whether a user is worthy of perks such as deposit-free […]
View More WeChat is quietly ranking user behavior to play catch-up with AlibabaDidi launches lending and insurance as new regulation threatens to lower driver numbers
Didi Chuxing, China’s dominant ride-hailing firm, is rolling out a range of financial and insurance services as it looks to fortify its service against a range of challenges in 2019. The company announced today that it is adding “protection” insurance and credit services for both passengers and drivers who use its platform. The former is […]
View More Didi launches lending and insurance as new regulation threatens to lower driver numbersAlibaba-backed Hellobike bags new funds as it marches into ride-hailing
2018 has been a rough year for China’s bike-sharing giants. Alibaba-backed Ofo pulled out of dozens of international cities as it fought with a severe cash crunch. Tencent-backed Mobike puts a brake on expansion after it was sold to neighborhood services provider Meituan Dianping. But one newcomer is pedaling against the wind. Hellobike, currently the country’s […]
View More Alibaba-backed Hellobike bags new funds as it marches into ride-hailingAlibaba-backed Hellobike bags new funds as it marches into ride-hailing
2018 has been a rough year for China’s bike-sharing giants. Alibaba-backed Ofo pulled out of dozens of international cities as it fought with a severe cash crunch. Tencent-backed Mobike puts a brake on expansion after it was sold to neighborhood services provider Meituan Dianping. But one newcomer is pedaling against the wind. Hellobike, currently the country’s […]
View More Alibaba-backed Hellobike bags new funds as it marches into ride-hailingHow a Chinese anti-virus software maker builds a fintech firm to wrestle with giants
360 Finance, an online consumer loan platform that spun off from China’s anti-virus service giant 360 Group, has joined a raft of Chinese fintech companies to go public in the U.S. over the last two years. The company priced its initial public offering at $16.50 per share last Friday, raising $51 million by selling 3.1 […]
View More How a Chinese anti-virus software maker builds a fintech firm to wrestle with giantsLazada, Alibaba’s Southeast Asia e-commerce business, gets a new CEO
Alibaba has reshuffled the leadership at Lazada, its e-commerce firm in Southeast Asia, after CEO Lucy Peng — an original Alibaba co-founder — stepped down to be replaced by Lazada executive president Pierre Poignant after just nine months in the role. Alibaba owns more than 90 percent of Lazada but it has been involved in the business […]
View More Lazada, Alibaba’s Southeast Asia e-commerce business, gets a new CEOPayment service Toss becomes Korea’s newest unicorn after raising $80M
South Korea has got its third unicorn startup after Viva Republica, the company beyond popular payment app Toss, announced it has raised an $80 million round at a valuation of $1.2 billion. This new round is led by U.S. firms Kleiner Perkins and Ribbit Capital, both of which cut their first checks for Korea with this […]
View More Payment service Toss becomes Korea’s newest unicorn after raising $80MSkype co-founder snags $105M for fintech lending venture in Southeast Asia
A fintech whale quietly going about its business in Southeast Asia has come out from under the radar after Oriente, a Hong Kong-based business headed by Skype’s first employee, announced that it has raised a whopping $105 million. It may not be well known at this point, but the company has some serious street cred. Oriente […]
View More Skype co-founder snags $105M for fintech lending venture in Southeast AsiaPhilippines fintech business Voyager raises $215M in Tencent-led round
One of the year’s largest fintech investments in Southeast Asia has closed after Philippines-based Voyager announced it raised $215 million. The bulk of the deal comes via a previously announced investment from Tencent which, alongside PE firm KKR, agreed to invest $175 million. Added to that, Voyager has pulled in a further $40 million from International Finance […]
View More Philippines fintech business Voyager raises $215M in Tencent-led roundTencent e-wallet is following Alibaba to Hong Kong subways
China’s payments giants have taken their battle to Hong Kong. Less than a week after Ant Financial announced adding QR codes to the city’s MTR public transport network of rail, Tencent’s WeChat Pay unveiled a similar scheme on Wednesday. Starting mid-2021, commuters in Hong Kong can scan a barcode to enter the subway turnstile through […]
View More Tencent e-wallet is following Alibaba to Hong Kong subways