Go-Jek makes first close of $2 billion round at $9.5 billion valuation

Southeast Asia-based ride-sharing firm Go-Jek is making progress with its plan to raise up to $2 billion in fresh capital to fund its battle with close rival Grab . Indonesia-headquartered Go-Jek has closed an initial chunk of that round after a collection of existing investors, including Google, Tencent and JD.com, agreed to invest around $920 million […]

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VCs give us their predictions for startups and tech in Southeast Asia in 2019

The new year is well underway and, before January is out, we polled VCs in Southeast Asia to get their thoughts on what to expect in 2019. The number of VCs in the region has increased massively in recent years, in no small part due to forecasts of growth in the tech space as internet […]

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Go-Jek buys fintech startup Coins.ph for $72M ahead of Philippines expansion

Ride-hailing startup Go-Jek’s expansion into the Philippines ran into problems earlier this month over its ownership structure, but that isn’t deterring the Indonesian company from investing into the market. Today, Go-Jek announced that it has acquired local fintech company Coins.ph through “substantial investment” which gives it a majority stake in the business. The deal is officially […]

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Grab moves to offer digital insurance services in Southeast Asia

Grab is Southeast Asia’s top ride-hailing firm, thanks in no small part to its acquisition of Uber’s local business last year, but the company also houses an ambitious fintech arm, too. That just added another vertical to its business after Grab announced it is teaming up with China’s ZhongAn to introduce insurance. Grab and ZhongAn International, […]

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Uber’s India rival Ola nears $6 billion valuation ahead of huge funding round

Ola, India’s local rival to Uber, has seen its valuation jump to nearly $6 billion as it prepares to take in a large round of financing. The ride-hailing firm, which was founded in 2010, has raised around $3.3 billion from investors to date, and it topped that up a little this week. Ola pulled in […]

View More Uber’s India rival Ola nears $6 billion valuation ahead of huge funding round

Go-Jek’s Southeast Asia expansion runs into a roadblock in the Philippines

Southeast Asian ride-hailing challenger Go-Jek has expanded into three new markets as it bids to expand beyond its native Indonesia, but it is having major issues getting into a fourth. The company — which rivals Grab, is valued at over $6 billion and is backed by the likes of Google and Tencent — this week […]

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Didi 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 numbers

Grab raises fundraising target to $5B as Southeast Asia’s ride-hailing war heats up

Southeast Asian ride-hailing firm Grab is aiming to start the new year with a bang and an awful load of bucks. The company, which acquired Uber’s local business earlier this year, is planning to raise as much as $5 billion from its ongoing Series H round, up from an original target of $3 billion, a source with […]

View More Grab raises fundraising target to $5B as Southeast Asia’s ride-hailing war heats up

SoftBank’s Vision Fund is preparing to invest $1 billion in Grab

SoftBank’s Vision Fund is set to continue its recent spree of investments in Asian tech unicorns. The mega fund — which is targeted at $100 billion — is planning to invest upwards of $1 billion into Southeast Asia’s ride-hailing leader Grab, two sources with knowledge of the plan told TechCrunch. The investment could reach as much […]

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Grab is messing up the world’s largest mapping community’s data in Southeast Asia

Grab, Southeast Asia’s top ride-hailing company, has hit a roadblock in its efforts to improve its mapping and routing service after running into trouble with OpenStreetMap, the world’s largest collaborative mapping community, through a series of blundering edits in Thailand. Grab, which gobbled up Uber’s local business in exchange for an equity swap earlier this […]

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Grab invests $100M into India’s OYO to expand its budget hotel service in Southeast Asia

Southeast Asian ride-hailing firm Grab has made its most ambitious investment to date after it backed India-headquartered budget hotel network OYO to the tune of $100 million. The investment was part of a $1 billion Series E round led by SoftBank’s Vision Fund that closed back in September. The deal was first made public via a […]

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Skype 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 Asia