Financial Services
VCs commit $11m to India's Lendingkart
A group of VC investors including Sistema Asia Fund has committed INR700 million ($10.9 million) to Indian fintech platform Lendingkart Technologies.
IFC commits $10m to India's Power2SME
The International Finance Corporation (IFC), the investment arm of the World Bank, has invested $10 million in Indian business-to-business e-commerce start-up Power2SME.
Korean fintech: Financial times
Korea’s financial technology sector is affording start-ups disruption opportunities based on an outdated infrastructure environment. Early movers are experimenting with a number of business models
Samara, Norwest in $77m exit from India's RBL
Samara Capital and Norwest Venture Partners have made a partial exit from India's RBL Bank for INR4.95 billion ($77 million).
VCs invest $16m in India's Ezetap
JS Capital Management has led a $16 million funding round for Indian mobile payment solutions provider Ezetap.
Sequoia leads $13m round for Australian AI start-up
Sequoia Capital China has led a A$16 million ($13 million) funding round for Hyper Anna, an Australian artificial intelligence (AI) company focused on the financial services industry.
GIC, Yunfeng Capital LPs in $1.7b Asian insurance acquisition
Singapore’s GIC Private has joined a group of investors including Yunfeng Financial Group (YFG), a Hong Kong-based financial services company backed by Alibaba founder Jack Ma, in a $1.7 billion acquisition of insurance provider MassMutual Asia.
VCs commit $9m to Japan blockchain platform
Nippon Technology Venture Partners, Fisco Capital, and ABBALab have committed $9 million to Japanese cryptocurrency platform Tech Bureau.
Chinese supply chain financing player gets $30m Series B
Linklogis, a Chinese supply chain finance provider, has raised RMB200 million ($30 million) in Series B funding from Tencent Holdings, China Merchants Venture Capital and Bertelsmann Asia Investments.
KKR-owned Avendus buys India asset manager
Avendus Capital, an Indian financial services firm owned by KKR, has agreed to acquire Ocean Dial Asset Management, the UK-based investment manager of India Capital Growth Fund (ICGF).
Australia's Pepper accepts KKR credit unit's buyout offer
Australian mortgage lender and distressed debt servicer Pepper Group has accepted a buyout bid from KKR Credit Advisors (KCA).
VCs invest $12m in Indonesia's UangTeman
Indonesian consumer lending start-up UangTeman has raised a $12 million Series A round comprising equity and debt.
General Atlantic acquires India's Karvy Computershare
General Atlantic has acquired a significant stake in India-based share registry business Karvy Computershare, providing a full exit for Australia-listed Computershare and taking out part of the position held by the company founder.
India's VC-backed Mobikwik attracts $35m investment
Indian non-banking financial company (NBFC) Bajaj Finance has agreed to invest about INR2.2 billion ($35.3 million) in Mobikwik, a domestic mobile wallet developer backed by a number of venture capital firms including Sequoia Capital.
GIC leads $220m Series D for China’s Dianrong
Chinese peer-to-peer (P2P) lending platform Dianrong.com has raised a $220 million Series D round led by Singapore’s GIC Private.
Warburg Pincus to buy stake in Chinese mutual fund business
Warburg Pincus is set to acquire Société Générale's (SocGen) 49% interest in Fortune SG Asset Management, a Sino-foreign mutual fund joint venture with China’s Baosteel Group.
Partners Group raises $7b for direct PE deals
Partners Group has achieved a close of EUR6 billion ($7 billion) on its latest direct private equity fund. It is the firm's largest fundraise to date.
Chinese financial tech firm Qiancheng gets $30m
Qiancheng Technology, a Chinese financial technology company that provides micro-lending services, has raised a RMB200 million ($30 million) Series B round of funding from existing investors Tiantu Capital and U51.com, a VC-backed credit card management...
Indian furniture rental company gets $10m Series B
RentoMojo, an Indian financial technology company that facilitates rentals of furniture and other household items, has raised a $10 million Series B round led by Bain Capital Ventures and fintech entrepreneur Renaud Laplanche.
Carlyle, SBI buy GE Capital's stake in India credit card unit
The Carlyle Group and State Bank of India (SBI) have agreed to buy SBI Card, India’s second-largest credit card franchise, from GE Capital – the latest in a string of private equity transactions in Asia arising from General Electric’s decision to...
IDG, Jungle back India's Vayana Network
IDG Ventures India and Jungle Ventures have jointly invested $4 million in a Series A funding round for Indian financial services company Vayana Network.
PAG backs Home Credit for expansion in China
PAG Asia Capital has agreed to invest approximately RMB2 billion ($296 million) in a Hong Kong unit of Czech-based consumer loans company Home Credit Group, with a view to supporting the company's expansion in China.
Financial institutions and fintech: Bouncing checks
Southeast Asia’s traditional banks have begun to take a strong interest in the financial technology environment, but their early-stage involvement in the ecosystem is still tentative
SBI invests Indian fintech player
Indian payments technology service Innoviti Embedded Solutions has raised a INR1.2 billion ($18.6 million) funding round led by SBI-FMO Fund.