Financial Services
Apis invests $35m in India's Cashfree
Apis Partners has invested $35 million in Indian digital payments services provider Cashfree as part of a Series B round also featuring Smilegate Investment and Y Combinator.
India's True Balance gets $28m Series D
Indian financial technology provider True Balance has raised a $28 million Series D round from a group including SoftBank Ventures Asia.
Grab leads $100m round for Indonesia e-wallet player
Singapore-based ride-hailing and local services platform Grab has led a $100 million Series B round for Indonesian e-wallet services provider LinkAja.
Australia HR start-up Flare raises $16m
KKR-owned accounting services providers MYOB has led a A$22 million ($16 million) Series C round for Australian HR technology start-up Flare.
Ares bids for Australian financial services player AMP
Ares Management has submitted a non-binding offer of around A$6.4 billion ($4.5 billion) to acquire Australia’s AMP, continuing the recent private equity push into the country’s wealth management industry.
India's Finova gets $55m in equity, debt funding
Finova Capital, an Indian small business lending start-up, has raised $55 million in equity and debt, including $35 million in equity from Sequoia Capital India and Faering Capital.
Australia's Link Group rejects PEP, Carlyle buyout offer
Australia-based financial data and fund administration services provider Link Group has rejected a A$2.7 billion ($1.97 billion) buyout offer from Pacific Equity Partners (PEP) and The Carlyle Group, saying it materially undervalues the company.
Sequoia joins $22.5m round for Bangladesh's ShopUp
Sequoia Capital India and US-based Flourish Ventures have led a $22.5 million Series A round for Bangladesh B2B platform ShopUp. It is both firms’ first investment in the country.
Singapore auto marketplace Carro raises $110m
Singapore used car marketplace Carro has raised S$150 million ($110 million) in debt and equity, including an unspecified equity contribution from Japan’s MS&AD Insurance and Mitsubishi Corp.
Thailand’s 9 Basil raises $120m for debut fund
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
India's Razorpay raises $100m Series D
Indian digital payments start-up Razorpay has achieved unicorn status following a $100 million Series D round led by GIC Private and Sequoia Capital India.
India, US-based Chargebee raises $55m Series F
Chargebee, an India-founded and now US-headquartered financial technology provider, has raised $55 million in Series F funding led by Insight Partners.
Australia's Airwallex upsizes Series D to $200m
Australian international payments technology provider Airwallex has raised an additional $40 million in Series D funding from existing investors, bringing the round to $200 million.
PE & Asian banks: Once-in-a-decade opportunity
GPs like targeting banks during downturns, investing in stronger players at discount valuations and backing them to come out the other side with increased market share. Will it be more of the same with COVID-19?
India insurance tech provider raises $60m
Acko, an Indian financial technology start-up touted as the country’s only digital-native insurer, has secured a $60 million investment featuring Amazon and two global insurance providers.
TPG backs $2b carve-out of Aviva Singapore
TPG Capital has joined a consortium led by Singapore Life (Singlife) that has agreed to acquire the Singapore business of UK insurance giant Aviva for S$2.7 billion ($2 billion).
Sequoia joins $30m Series C for India's Groww
Groww, a financial technology start-up considered the largest retail brokerage in India, has closed a $30 million Series C round with support from Sequoia Capital India.
Africa-focused GP leads Series B for Singapore's Thunes
Africa-focused private equity firm Helios Investment Partners has led a $60 million Series B round for Singapore financial technology start-up Thunes.
Xiaomi joins $54m Series B for Indonesia's PasarPolis
Chinese electronics maker Xiaomi has joined a $54 million Series B round for Indonesian financial technology provider PasarPolis.
Korea's Viva Republica raises $173m
Viva Republica, the operator of Korean money transfer app Toss, has raised $173 million from a group of investors featuring Sequoia Capital China and Kleiner Perkins.
PAG buys majority stake in Indian wealth manager
PAG has invested approximately $300 million for a 51% stake in the wealth management business of Indian financial services players Edelweiss Group. The goal is to demerge and list the unit within 18 months.
PE-backed Ant Group files for Hong Kong, Shanghai IPO
Ant Group, the financial technology affiliate of China’s Alibaba Group, which has raised more than $20 billion in external private funding, has filed for a dual listing in Hong Kong and Shanghai.
China insurance tech platform Waterdrop receives $230m
Shuidi, a China-based insurance technology platform also known as Waterdrop, has raised $230 million in Series D funding jointly led by Tencent Holdings and Swiss Re Group. Existing investors IDG Capital and Wisdom Choice Global Fund re-upped.
Sequoia backs Indonesia MSME app
Sequoia Capital India has joined a $9 million pre-Series A round for Indonesia’s BukuKas, a bookkeeping app for micro, small, and medium-sized enterprises (MSMEs).