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Hello reader,
Remember when buy now, pay later startups were the newest big thing in the tech industry?
I feel like I went from never having heard of the abbreviation BNPL to seeing ads of pay-later startups everywhere in the span of a week or two.
Now, however, BNPL companies around the world are finding it more costly to run the business, and firms in the West are feeling the effects of loan delinquency and higher borrowing costs.
Despite these hurdles, it seems the vertical is still growing in Southeast Asia. For instance, Singapore-headquartered Atome just got US$45 million in strategic investment from its parent company, Advance Intelligence Group.
It makes me wonder, though, whether the BNPL scene in Southeast Asia will continue on its upward trajectory or if it will eventually face the same issues as its Western counterparts.
Image credit: Timmy Loen
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals and M&As that recently took place.
The biggest deals by country
🇮🇳 Byju’s: The Indian edtech giant secured US$2.4 billion in debt funding from Goldman Sachs and Morgan Stanley.
🇰🇷 ZigBang: The South Korea-based property search platform raised US$80 million in series D money from Hana Financial Investment, IMM Investment Corp, and KDB Bank.
M&As
Startups that are raising funds
Killer pitch decks
Exclusive listicles
Thoughtful reads
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