Southeast Asia

  • Vynn Capital plans maiden $40M startup fund for Southeast Asia

    Vynn Capital plans maiden $40M startup fund for Southeast Asia

    Southeast Asia has a new venture capital fund on the scene after Victor Chua, formerly a vice president at Gobi Ventures, launched Vynn Capital. The Kuala Lumpur-headquartered venture is founded by Chua and Singaporean Darren Chua, previously with IE Singapore, and it is targeting a $40 million total close. Chua declined to say how far advanced the project is, but we did a little digging… Read More

  • Google confirms investment in Indonesia’s ride-hailing leader Go-Jek

    Google confirms investment in Indonesia’s ride-hailing leader Go-Jek

    Google has confirmed its investment in Go-Jek, the hail-railing service that rivals Uber and Grab in Indonesia. TechCrunch reported the investment earlier this month, which was made alongside China’s Meituan-Dianping and Singaporean sovereign fund Temasek. The trio were part of a final tranche of a $1.2 billion round that Go-Jek began negotiating on last April, with commitments from… Read More

  • StoreHub lands $5.1M help SMEs in Southeast Asia digitize their business

    StoreHub lands $5.1M help SMEs in Southeast Asia digitize their business

    StoreHub, a startup that helps retailers digitize their business, has closed a $5.1 million Series A round led by Vertex Venture to expand in Southeast Asia. The startup was founded in 2014 and it offers point-of-sale technology and digital services to retailers. The idea is to help bring the long tail of less sophisticated physical merchants online to help them digitize their finances… Read More

  • Tryb Group raises $30M to develop fintech platforms for Southeast Asia

    Tryb Group raises $30M to develop fintech platforms for Southeast Asia

    Tryb Group, a Singapore-based organization focused on fintech services in Southeast Asia, has landed a $30 million investment from Makara Capital. The investment comes from Makara’s $770 million joint fund with the Intellectual Property Office of Singapore (IPOS), which is focused on finding valuable IP in the tech and startup space. TechCrunch understands that Tryb is talking to a… Read More

  • Rocket Internet’s Carmudi raises $10M to refocus on Asia following global retrenchment

    Rocket Internet’s Carmudi raises $10M to refocus on Asia following global retrenchment

    Carmudi, a Rocket Internet-backed company that sells cars online in emerging markets, has raised $10 million to develop its business in Southeast Asia after reducing its global footprint. The company was formed in 2013 and, at peak, it grew to cover over 20 markets across Asia, the Middle East, Africa and Latin America. To support that global push, Carmudi raised $10 million in 2014 and then… Read More

  • Indonesia’s BeliMobilGue raises $3.7M to let consumers sell their cars quickly and easily

    Indonesia’s BeliMobilGue raises $3.7M to let consumers sell their cars quickly and easily

    A new startup in Indonesia wants to car owners in Southeast Asia’s country sell their vehicle with more security and reliability. BeliMobilGue — meaning ‘Buy My Car’ — was quietly started last year as a joint venture from Berlin-based Frontier Car Group and Intudo Ventures. It acts as a middleman between Indonesia’s car dealers and consumers who want to… Read More

  • Google is investing in Indonesia-based Uber rival Go-Jek

    Google is investing in Indonesia-based Uber rival Go-Jek

    Google is back investing in ride-hailing companies. The U.S. search firm and China’s Meituan-Dianping are among the tech giants set to invest in Go-Jek, the Indonesia-based rival to Grab and Uber, a source with knowledge of discussions told TechCrunch. We understand a deal could be completed as soon as next week, though whether Go-Jek announces it is unclear since it has history of… Read More

  • Uber rival Grab acquires Indian startup to bulk up its mobile payment platform

    Uber rival Grab acquires Indian startup to bulk up its mobile payment platform

    Grab, Uber’s main rival in Southeast Asia, is continuing to develop its mobile payment strategy after it announced the acquisition of India-based startup iKaaz. The deal — which is undisclosed — will see iKaaz’s engineering team join the Bangalore-based engineering office which Grab opened last year. The firm declined to say how many new recruits are moving over… Read More

  • Grab, Uber’s rival in Southeast Asia, pulls in strategic investment from Hyundai

    Grab, Uber’s rival in Southeast Asia, pulls in strategic investment from Hyundai

    Grab, Uber’s closest rival in Southeast Asia, continues to slowly release information about its newest funding round after it revealed it has netted a strategic investment from Hyundai. To recap, the Singapore-based firm raised a massive $2 billion led by SoftBank and China’s Didi Chuxing last July with plans to extend the round by a further $500 million. Back in August, it… Read More

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