Financials
Euronet challenges Alibaba's acquisition of PE-backed MoneyGram
US payment services company Euronet Worldwide has extended a buyout offer worth about $2 billion for NASDAQ-listed MoneyGram, contesting a bid made earlier this year by Alibaba Group’s PE-backed affiliate Ant Financial. The pending sale will provide an...
Fund focus: Apis seeks to make specialization count
Apis is relying on its team's financial services expertise and networks to deliver the goods in South Asia and Africa. LPs have given them $287 million with which to prove the thesis
GIC invests $113m in India's Can Fin
Singapore sovereign wealth fund GIC Private has invested about INR7.5 billion ($113.2 million) for a 13.4% stake in Indian mortgage lender Can Fin Homes.
Carlyle exits India's Edelweiss for $131m
The Carlyle Group has fully exited its stake in India’s Edelweiss Financial Services for INR8.7 billion ($131 million) in an open market transaction.
Goodwater leads $48m investment in Korea's Viva Republica
US-based venture capital firm Goodwater Capital has led a KRW55 billion ($48 million) Series C funding round for South Korean financial technology company Viva Republica.
Apis closes South Asia, Africa fintech fund at $287m
Emerging market financial technology investor Apis Partners has closed its debut fund at $287 million. It has already deployed about $130 million across five deals in South Asia and Africa.
CPPIB, CDPQ pay $337m for stake in India's Kotak
Canada Pension Plan Investment Board (CPPIB) and Caisse de dépôt et placement du Québec (CDPQ) have paid INR23 billion ($337 million) for a 1.5% stake in India’s Kotak Mahindra Bank.
Reliance Capital exits Paytm stake to Alibaba for $41m
Reliance Capital has exited part of its stake in Indian e-commerce and mobile payments start-up Paytm to China's Alibaba Group for INR2.8 billion ($41.3 million).
Quona, Accion close $141m global fintech fund
Quona Capital and emerging markets microfinance group Accion International have closed a $141 million global venture fund dedicated to financial technology. It will focus in part on India and Southeast Asia.
China's JD.com spins off VC-backed financial unit
Chinese online retailer JD.com has agreed to sell its entire 68.6% stake in its financial unit JD Finance, which is backed by Chinese investors including Sequoia Capital China, for RMB14.3 billion ($2.1 billion) in cash.
Taiwan's Foxconn to buy stake in SoftBank investment unit
Taiwan-based Foxconn Technology Group has acquired a 54.5% stake in an investment subsidiary owned by SoftBank Group for $600 million.
US online lender SoFi raises $500m to expand in Australia
US online lender and financial services company SoFi has secured a $500 million Series F funding round led by Silver Lake for an expansion effort into Australia.
K2 Global raises $183m for US-Asia VC fund
K2 Global has raised $183 million for its debut venture fund, which aims to promote cross-border development in Asian and US technology start-ups.
IDG Capital invests in CreditEase's insurance unit
CreditEase Insurance Agency, an insurance unit of China’s CreditEase Wealth Management, has raised RMB80 million ($12 million) from investors including IDG Capital through a private placement on the National Equities Exchange and Quotations (NEEQ).
AirTree leads $19m investment in Australia's Prospa
AirTree Ventures has led a A$25 million ($19.2 million) investment in Australian financial technology company Prospa.
China's Ant Financial invests $200m in Kakao payment unit
Ant Financial, the financial services affiliate of China’s Alibaba Group, has agreed invest $200 million in a dedicated mobile finance platform that will soon be launched by South Korean internet giant Kakao Corp.
IFC proposes investment in China-listed credit union
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed an investment of up to RMB130 million ($19 million) in Chinese listed bank Qiongzhong Rural Credit Cooperative.
IAG launches fintech incubator in Singapore
Insurance Australia Group (IAG) has agreed to establish a financial technology incubator in Singapore to focus on promoting start-ups targeting innovation in the insurance industry.
Deal focus: CXA flexes health muscles
Singapore's CXA raises $25 million in Series B funding to build out its benefits model that helps both companies and employees fight their healthcare battles more efficiently
Impact investors and Asian banks: Developing interest
Despite the rise of non-banking finance companies, traditional banks in emerging markets still appeal to impact investors. Using them to their potential means adapting to each market
MBK-owned ING Life files for Korea IPO
ING Life Korea, a Korean insurer that MBK Partners acquired in 2013 from ING Groep, has applied for regulatory approval for a domestic IPO.
Deal focus: Grab thinks local in Indonesia
Grab will invest $700 million in Indonesia over four years with a view to developing more localized solutions that support the development of its core ride-hailing business as well as promote financial inclusion
IFC proposes $57m investment in Vietnam bank
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed a commitment of up to $57 million in Vietnam Prosperity Commercial Joint Stock Bank (VPBank).
Singapore's CXA raises $25m Series B round
The investment arm of Singapore's Economic Development Board (EDBI) and B Capital Group have led a $25 million Series B funding round for Singaporean health technology start-up CXA Group.