A labyrinth of logistical, cultural, competition, and business modelling challenges is curbing private equity appetite for India’s quickly modernising proletariat
Japan’s Nomura Holdings has launched a business called Laser Venture Capital that will invest in companies in the blockchain and digital assets space.
Indian private equity firm Creaegis has led a USD 75m Series C round for local insurance technology provider Zopper.
Indonesia’s AC Ventures has led a USD 11m Series A round for Reku, a local crypto exchange that claims to offer the lowest fees in the market.
Indonesia’s Fazz, a financial services provider for Southeast Asia micro businesses, has raised a USD 100m Series C round featuring Tiger Global, DST Global, and B Capital Group.
Affirma Capital has led a KRW 300bn (USD 217m) funding round – at a valuation of KRW 1trn – for Carrot General Insurance, a South Korea-based digital insurer.
The founders of technology-enabled credit platform Jai Kisan went against the grain by forgoing urban customers and targeting India’s rural poor. A USD 50m Series B is an indicator of its progress
Singapore and Thailand-based Lightnet, a blockchain-enabled payments and remittance services provider, has raised USD 50m from US-based LDA Capital.
TPG’s Rise Fund and Norwest Venture Partners have led a USD 110m Series D round for EarlySalary, which claims to be India’s largest consumer lending financial technology start-up.
New Zealand Superannuation Fund (NZ Super) and Accident Compensation Corporation (ACC) have exited state-owned Kiwibank at an implied valuation of NZD 2.1bn (USD 1.3bn).
India’s Jai Kisan, a financial technology start-up focused on digital banking in rural areas, has raised USD 50m in Series B funding from a group including DG Daiwa Ventures and Blume Ventures.
Tiger Global Management has led a USD 22.6m Series B round for ChangeJar Technologies, operator of India-based savings and investment app Jar, at a valuation of more than USD 300m.
The Blackstone Group will exit its majority stake in New Zealand-based insurer Partners Life following the announcement of a full acquisition of the company by Japan’s Dai-ichi Life Holdings at a valuation of approximately NZD 1bn (USD 645m).
Abu Dhabi Investment Authority (ADIA) has agreed to invest INR 6.6bn (USD 83.5m) in India’s Aditya Birla Health Insurance (ADBHI) for a 10% stake.
Singapore’s Merkle Science, a predictive crypto analytics platform, has raised USD 24m in Series A funding led by K3 Ventures, Darrow Holdings, and Beco Capital.
Accel has led a USD 21m Series A round for Indian retail investment services app Deserv with support from existing investors Elevation Capital and Matrix Partners India.
SCB 10X, the VC arm of Thailand’s Siam Commercial Bank, has appointed Mukaya Panich, its chief investment and venture officer, as CEO.
French development finance institution Proparco has invested USD 25m in debt in India’s Northern Arc Capital, a microfinance and small business lender with several private equity backers.
OneLoad, a Pakistan-based digital financial services platform established by local IT player Systems Limited and the International Finance Corporation (IFC), has raised USD 11m in funding.
Only six digital banks are licensed to operate in the Philippines. Enthused by the prospect of helping build one of these select few from the ground up, Creador moved fast to back UnoAsia
Creador has made a rare early-stage investment, leading a pre-Series A round of USD 11m for UnoAsia, operator of Uno Digital Bank, one of only six licensed digital banks in the Philippines.
The Carlyle Group and Advent International have together invested USD 1.1bn in India’s Yes Bank, acquiring equity shares and warrants that could enable them to own up to 20% of the lender.
Viva Republica, operator of the Korean money transfer app Toss, has raised KRW 296bn (USD 225.5m) in series G funding from an investor group that includes Altos Ventures, Goodwater Capital, Greyhound Capital, and Kleiner Perkins.
Mx51, an Australia-based payments technology platform that emerged as a partnership with Westpac, has raised AUD 32.5m (USD 22.4m) in Series B funding.