Financials
SBI-backed Bcause gets funding for Asia crypto push
Bcause, a US-based cryptocurrency services company backed by SBI Holdings has received a commitment of undisclosed size from China Health Checkmate (CHC) to support an Asian expansion.
Chinese online insurer Wukongbao raises Series B
Wukongbao, a Beijing-based online insurance broker, has raised millions of US dollars in a Series B round led by Chinese classifieds platform 58.com, with participation from Guohua Life Insurance.
Lattice80 launches fintech accelerator in Hong Kong
Lattice80, a UK-based group that operates financial technology co-working spaces and accelerators globally, has established a new base in Hong Kong.
Global Brain leads round for SE Asia's Omise
Thailand-based financial technology company Omise has raised a funding round of undisclosed size led by Japanese venture capital investor Global Brain.
Profile: Apis' Matteo Stefanel
Matteo Stefanel discovered a passion for financial services early in his career. This led to the formation of Apis Partners, which seeks to back the sector’s most innovative entrepreneurs in Asia and Africa
Asia fintech: Follow the leader
China has set a compelling example for establishing a diversified and deeply penetrated digital banking industry in a developing economy. India and Southeast Asia are taking notes
GIC leads $220m Series C for China supply chain finance player
Chinese supply chain finance provider Linklogis has raised $220 million in a Series C round of funding led by GIC Private.
CLSA launches early-stage fintech unit
Hong Kong’s CLSA has launched an investment unit called AlphaLabs that will back early-stage financial technology companies in Asia.
Philippines investors defy systemic risks – AVCJ Forum
Industry participants at the AVCJ Philippines Forum praised the country’s macro fundamentals but attributed slow maturation of the local investment environment to a range of complex underlying factors.
KKR, Tencent lead $175m investment in PLDT fintech unit
KKR and Tencent Holdings have led a $175 million investment in a financial technology unit of Philippines telecom giant PLDT. It is said to be the largest ever investment in a local technology company.
Venturra leads $26m round for Philippines' First Circle
Venturra Capital has led a $26 million Series A round for First Circle, a Philippines-based lending platform operator focused on small to medium-sized enterprises (SME).
China credit services specialist WeShare gets $90m Series B
Shenzhen-based Chinese financial services provider WeShare has secured $90 million in Series B funding led by Huaxing Growth Capital, an investment arm of China Renaissance, as well as CITIC Capital and Loyal Valley Capital.
PE-backed Chinese crypto player set for Hong Kong IPO
Bitmain, a five-year-old Chinese company that is the dominant global player in manufacturing chips for bitcoin mining, with revenues ballooning nearly tenfold to $2.5 billion last year, has filed for a Hong Kong IPO.
Affinity to acquire Australia's Scottish Pacific for $446m
Affinity Equity Partners has agreed to acquire Australia-listed debt and trade finance provider Scottish Pacific in a deal worth approximately A$612 million ($446 million).
Japan payments player Origami raises $60m Series C
Origami, a Tokyo-based mobile payments platform, has raised JPY6.6 billion ($60 million) in Series C funding from investors including SBI Investment, Union Pay International, Mitsui Sumitomo Card, and Credit Saison.
Indonesia fintech platform raises $24m Series B
Sequoia Capital India has led a $24 million Series B round for Moka, a developer of cloud-based point-of-sale (POS) systems based in Jakarta.
CHAMP exits Australian forex broker Pepperstone
CHAMP Private Equity has exited Australian foreign exchange broker Pepperstone following a buyout by its founders, senior management and Fiona Lock, a managing director at the PE firm.
Vertex, Sistema lead $30m Series C for India's Kissht
Vertex Ventures, the VC arm of Temasek Holdings, has led a $30 million Series C round for Indian financial technology platform Kissht alongside Russian VC investor Sistema Asia Fund.
China's Lianlian Payment raises $146m from Sequoia, Boyu
China’s Lianlian Digital, the parent company of payment services provider Lianlian Pay, has raised RMB1 billion ($146 million) from Sequoia Capital China and Boyu Capital in its latest funding round.
IFC-backed Angel Broking files for India IPO
Indian financial services provider Angel Broking has filed for an IPO that will raise up to INR6 billion ($83 million) and provide a partial exit to the International Finance Corporation (IFC).
Finch secures 2.7x return on Indonesia's Cermati
Early-stage technology investor Finch Capital has sold its minority stake in Indonesian financial technology developer Cermati to local conglomerate The Djarum Group, realizing a 2.7x return on capital in its first exit in Indonesia.
Sequoia joins $20m Series B for Malaysia's Fave
Sequoia Capital India has joined a $20 million Series B funding round for Fave, a Malaysia-based online-to-offline (O2O) platform operator that covers a range of consumer categories across Southeast Asia.
PAG terminates Home Credit investment
PAG Asia Capital has ended its partnership with Home Credit, which was agreed last year and intended to help the Czech Republic-based consumer loans company expand in China.
MBK to sell stake in Korean life insurer for $2b
MBK Partners is set for a full exit from ING Life Korea – now known as Orange Life Insurance – after agreeing to sell its majority stake to Shinhan Financial Group for KRW2.29 trillion ($2.04 billion).
