Financial Services
Deal focus: Serving the sole trader
Accounting software provider Hnry has built up a following among freelancers and self-employed tradespeople in New Zealand and Australia. A USD 25m Series B will help it look further afield
Fund focus: ChrysCapital accumulates $1.4b India war chest
For ChrysCapital Partners, raising India’s largest private equity fund reflects the growth in the economy and in the investment opportunity, with bigger deals across more sectors on the agenda
Mitsubishi UFJ launches $100m Indonesia fund
MUFG Innovation Partners, a VC arm of Mitsubishi UFJ Financial Group, has launched its third fund alongside Bank Danamon Indonesia with a corpus of USD 100m. The fund will focus on Indonesia.
Airtree leads $25m round for New Zealand's Hnry
Australia’s Airtree Ventures has led a NZD 35m (USD 25mm) Series B round for New Zealand small business financial technology provider Hnry.
Indonesia fintech start-up iSeller gets $12m
Indonesia financial technology start-up iSeller, which helps businesses to digitise sales and operations, has raised USD 12m in Series B funding led by Intudo Ventures.
TPG buys India's Poonawalla Housing Finance
TPG Capital Asia has agreed to acquire Poonawalla Housing Finance for a pre-money equity valuation of INR 39bn (USD 473m) and inject an additional INR 10bn to support growth.
TPG exits Sri Lanka's Union Bank of Colombo
TPG Capital has agreed to exit Union Bank of Colombo (UBC), a Sri Lanka-based lender it has held since 2014, to a Singapore-registered company of unspecified ownership.
India's KreditBee raises $80m Series D
Indian lending start-up KreditBee has raised USD 80m in Series D funding from Premji Invest, NewQuest Capital Partners, Mirae Asset Ventures, MUFG Bank, and Motilal Oswal Alternates (MO Alts).
India's Five Star completes $195m IPO, GPs make partial exits
Five Star Business Finance, an Indian non-banking financial company (NBFC) that has received several rounds of private funding, gained 3% on debut following an INR 15.9bn (USD 195m) domestic IPO.
India fintech player Lentra gets $60m Series B
India’s Lentra, a financial technology provider focused on cloud-based lending, has raised USD 60m in Series B funding led by Bessemer Venture Partners and SIG Venture Capital.
Australia's Perpetual rejects improved BPEA EQT, Regal bid
BPEA EQT – formerly Baring Private Equity Asia – and Regal Partners have increased their offer for Australia-based asset manager Perpetual only for the target company’s board to reject them once again.
Japan-based microfinance player gets $47m Series E
Gojo & Company, a Japan-headquartered microfinance institution that operates across Sri Lanka, Myanmar, Cambodia, India, and Tajikistan, has raised USD 47.6m in Series E funding.
Quona closes third financial inclusion fund on $332m
Quona Capital, which invests under a financial inclusion strategy across emerging markets, has closed its third fund on USD 332m, beating a target of USD 250m.
Singapore digital family office platform raises $90m
Arta Finance, a digital family office start-up established by Caesar Sengupta, the Singapore-based former head of Google’s Next Billion Users initiative, has raised USD 90m in Series A funding.
Australia's Perpetual rejects $1.1b bid from BPEA EQT, Regal
Australia-based asset manager Perpetual has rejected a buyout offer from BPEA EQT – formerly Baring Private Equity Asia – and listed alternatives manager Regal Partners that values the company at approximately AUD 1.7bn (USD 1.07bn).
Bain makes $179m partial exit from India's Axis Bank
Bain Capital has generated proceeds of INR 14.9bn (USD 179.7m) through a partial exit from Axis Bank, a listed Indian lender it first backed five years ago.
BII leads $25m round for India's Kinara Capital
British International Investment (BII), a UK development finance institution, has led a USD 25m equity funding round for Kinara Capital, an Indian non-banking financial company (NBFC) that lends to micro, small, and medium-sized enterprises (MSMEs).
Philippines fintech start-up gets $16m Series A
Abu Dhabi’s ADQ has backed a USD 16m Series A round for a Philippines-based financial technology start-up founded by former executives of Russian digital banking leader Tinkoff Bank.
Warburg Pincus commits $350m to SE Asia insurance platform
Warburg Pincus has seeded a digital insurance platform for Southeast Asia with a USD 350m equity commitment and two recent acquisitions from Spain-headquartered insurance giant Mapfre.
Singapore's Bolttech hits $1.5b valuation with Series B
Singapore's Bolttech, an insurance technology provider set up by Pacific Century Group in 2020, has raised an undisclosed sum in Series B funding, claiming a valuation of USD 1.5bn.
SIG leads Series B extension for SE Asia payments start-up
Southeast Asia-focused B2B payments specialist Ayoconnect has closed a Series B extension of USD 13m led by SIG Asia. CE Innovation Capital and Prosus-owned PayU also took part.
East leads $10m round for Indonesia fintech player Alami
East Ventures has led a USD 10m pre-Series B round for Indonesia’s Alami, a sharia-compliant financial technology provider and small business lender.
Japan digital bank Nudge raises $16m Series A
Japanese digital bank Nudge has completed a USD 16m Series A round led by One Capital, a VC firm led by the former head of Salesforce Ventures Japan.
Warburg Pincus to buy majority stake in India's Vistaar Finance
Warburg Pincus has agreed to acquire a majority stake in Vistaar Finance, an India-based non-banking financial company (NBFC) that serves micro, small, and medium-sized enterprises (MSMEs).