Pine Labs, an India payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has acquired Fave, a Malaysian counterpart also backed by Sequoia India, for $45 million.
Gobi Partners became Airwallex's first institutional investor in 2016 due to a lack of support in the Australian company's home market. The GP made a partial exit in a recent Series D round at a valuation of $2.6 billion
Indian private equity firm True North has confirmed a partial exit from local insurance portal PolicyBazaar.
Qiming Venture Partners has led a $30 million Series B round for China-based imToken, which claims to be Asia’s largest crypto wallet.
Japanese payments start-up Paidy has raised $120 million in Series D funding from JS Capital Management, Soros Capital Management, Tybourne Capital Management, and Wellington Management.
KKR and Sequoia Capital India have led a $234 million investment in Indian non-banking financial company (NBFC) Five Star Business Finance at a valuation of $1.4 billion.
JC Flowers has agreed to sell Hong Kong-based Chi-X Asia Pacific, which operates equity trading platforms in Australia and Japan, to US-based Cboe Global Markets.
Airwallex, an international payments technology provider that launched out of Melbourne, has closed a third tranche of Series D funding, taking the overall round to $300 million and its valuation to $2.6 billion.
Tokyo-listed accounting software provider Freee is set to raise up to JPY42.5 billion ($391 million) through an offering of new shares and the sale of shares held by DCM Ventures.
India’s non-bank financiers remain attractive investment targets as a convergence of macro and systemic shocks tests the market. Sturdy underlying drivers provide confidence as models evolve
The Carlyle Group has sold approximately one-quarter of its remaining 15.8% stake in SBI Cards & Payment Services – a year after the Indian company’s IPO – for INR39.4 billion ($543 million).
PolicyBazaar, India’s largest insurance comparison portal, has raised $75 million from US-based Falcon Edge Capital for a Middle East expansion.
Singapore’s Jungle Ventures has led a $17 million Series B round for Leap Finance, a financial technology provider targeting the Indian education space.
Hillhouse Capital and Tencent Holdings have led a $92.5 million Series C round for Fenbeitong, a China-based enterprise payment and expense management software provider.
Malaysia Debt Ventures (MDV) and Kenanga Investment Bank have launched a VC fund focused on the local financial technology space with a target of MYR300 million ($73 million).
Indian online insurance broker Turtlemint has closed its Series D round at $46 million following a significant contribution from early-stage investor Jungle Ventures.
Allianz Group has led a $75 million round for Hong Kong’s WeLab with a view to helping the financial technology provider develop new insurance and investment products.
TA Associates has added to its Australia and New Zealand financial services portfolio with an investment in BetaShares, an Australia-based exchange-traded fund (ETF) manager.
Accel and Lightspeed Venture Partners have led a $15 million seed round for Zolve, an India-based digital bank focused on cross-border services.
Arohan Financial Services, an Indian microfinance institution (MFI) that was acquired by Aavishkaar Group in 2012 and went on to receive funding from several other PE investors, has filed for a domestic IPO.
Premji Invest, Mirae Asset Capital, Alpine Capital and Arkam Ventures have contributed $75 million in Series C funding for Indian financial technology start-up KreditBee.
Henrik Naujoks, Bain & Company’s financial services lead for Asia, observes that investors must not ignore the increasing cohesion of the Greater Bay Area despite a relative lack of near-term gambits
The Carlyle Group helps SBI Card win its place in the ongoing rise of digital India before realizing a landmark domestic IPO. Coordination with State Bank of India has been crucial
A clutch of Japanese investors has validated iStox’s blockchain-enabled digital securities marketplace. Now the Singapore-based start-up is taking the idea to new markets