Financials
IIFL Private Equity targets $524m for latest India pre-IPO fund
IIFL Private Equity is seeking up to INR 40bn (USD 524m) in commitments for its latest India pre-IPO fund as part of a broad fundraising push intended to secure INR 70bn to INR 80bn across multiple strategies over the next 12 months.
India's Ofbusiness secures $200m round for lending unit
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised USD 200m in Series A funding for its lending unit.
Deal focus: Zeller makes its presence felt
Less than a year after launching its digital payments-led product suite, Australia-based Zeller has accumulated 11,000 merchant customers, raised over USD 100m, and achieved a USD 750m valuation
Deal focus: Bazaar, Zayn encapsulate Pakistan’s breakout moment
Bazaar, a B2B logistics and financial services start-up, is putting Pakistan on the map for brand-name global VC investors for the first time. One of its key local backers, Zayn Capital, is doing the same
Brookfield buys Australia non-bank lender for $1.1b
Brookfield Asset Management has agreed to acquire Australian non-bank lender and asset manager La Trobe Financial for about USD 1.1bn, facilitating an exit for The Blackstone Group.
Japan mobile banking player Kyash gets $41m Series C
Altos Ventures, Goodwater Capital, Greyhound Capital, and StepStone Group are part of an investor group that has committed JPY 4.9bn (USD 41m) in Series D funding to Tokyo-based mobile banking start-up Kyash.
Deal focus: Financial crime pays for Silent Eight
Singapore’s Silent Eight is tackling the toughest cybersecurity subsegment and securing global clients in its early stages. Wavemaker Partners predicts a near-term explosion in growth
Singapore financial crime AI start-up gets $40m
Singapore’s Silent Eight, a compliance and financial crime risk investigation platform, has raised a USD 40m Series B round led by US-based TYH Ventures.
India fintech player Money View gets $75m Series D
Money View, an India-based financial technology start-up involved in lending, card issuance, and buy now, pay later products (BNPL), has raised US 75m in Series D funding at a valuation of USD 625m.
Singapore’s Cake DeFi launches $100m corporate VC arm
Singapore-based decentralised finance platform Cake DeFi has earmarked USD 100m for a venture capital program that will target web3, gaming, and financial technology start-ups globally.
Warburg Pincus buys control of Indonesian insurer
Warburg Pincus has acquired stakes in two Indonesian insurance businesses from Spain-headquartered multinational insurance company Mapfre for EUR 56.6m (USD 62.9m).
India's CredAvenue sees 3x valuation jump in six months
Indian small business credit platform CredAvenue has raised a USD 137m round featuring B Capital Group at a valuation of USD 1.3b, up 3x in the past six months.
Headline leads Series B for Australian payments start-up Zeller
Australian payments provider Zeller has closed an AUD 100m (USD 73m) Series B round led by Headline, a US venture capital firm, and supported by domestic superannuation fund Hostplus.
Singapore's Volopay gets $29m Series A
Singapore’s Volopay, a B2B financial technology provider specialising in cross-border transactions, has raised USD 29m in Series A funding led by Justin Mateen, co-founder of Tinder.
Pakistan fintech player NayaPay gets $13m seed round
NayaPay, a Pakistan-based financial technology start-up has secured USD 13m in what is claimed to be one of the country’s largest-ever seed rounds.
China cross-border fintech start-up secures $20m
Dowsure, a Shenzhen-based financial technology start-up that has developed credit-checking software that enables banks to lend to small-scale e-commerce vendors, has secured USD 20m in Series B funding.
India banking start-up Niyo raises $100m Series C
Accel Partners and Lightrock India have led a USD 100m Series C round for India’s Niyo, which offers digital savings accounts and other banking services in partnership with traditional banks.
Apis doubles down on Asia rewards, incentives space
Apis Partners has backed India-based rewards and incentives start-up Xoxoday through a USD 30m joint investment with Giift, one of its portfolio companies.
Vision Fund leads $144m round for Singapore lending platform
SoftBank Vision Fund 2 has led a USD 144m equity round for Singapore small business lending platform Funding Societies.
SE Asia commerce finance platform Akulaku gets $100m
Akulaku, an Indonesia-based digital finance platform backed by the likes of Qiming Venture Partners and Sequoia Capital India, has received a USD 100m investment from Thailand’s Siam Commercial Bank (SCB).
Blackstone buys majority stake in Indian wealth manager
The Blackstone Group has acquired a majority stake in Indian wealth manager Ask Investment Managers, taking out positions held by Advent International and other investors.
Deal focus: Indonesia’s fintech plumber
Brick is developing backend digital infrastructure so that financial technology start-ups in Southeast Asia can provide seamless services. Priorities include deepening functionality and geographic expansion
AVCJ Awards 2021: Deal of the Year – Small Cap: Ajaib
Having spent more than a year perfecting its product, Ajaib turned Indonesia’s brokerage industry on its head in six months. Emphasis on product and customer engagement have paid dividends
Philippines digital bank Tonik raises $131m
Mizuho Bank has led a USD 131m Series B round for Philippines digital bank Tonik with support from Sequoia Capital India and Prosus Ventures.