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Fintech companies ain’t joking around with their funding. Just look at Ant Financial, the Chinese giant that is eyeing a valuation of US$225 billion and could break world records with its upcoming IPO.
As its IPO looms, we look at other top-funded fintech companies that are either looking to go public or are making waves in their countries. You can also scroll down for a quick summary.
QUICK BYTES
1️⃣ Grab is looking to grow a whole lot bigger
The ride-hailing major is seeking to raise US$300 million to US$500 million as it aims to expand its financial unit. The company is currently in advanced talks with a group of investors, including Prudential and AIA Group.
2️⃣ PUBG cuts ties with Tencent in India
The hit video game was one of the 118 Chinese apps that got banned by the Indian government over national security concerns. In a bid to reinstate it, PUBG Corporation has announced that Tencent Games will no longer be authorized to publish the mobile game in India and that as its maker, the South Korean company will take on the responsibility instead.
3️⃣ Byju’s gets more money from Silver Lake
The edtech startup is now valued at US$10.8 billion after a US$500 million funding round led by Silver Lake, along with other existing investors. The India-based company is now the second-most valued startup in the country after raising US$100 million in June.
4️⃣ A new fund has its eyes set on Vietnam
Do Ventures is the new VC in town that’s looking to invest in early-stage startups in the land of the ascending dragon. The company announced the first closing of its new fund at more than half of its US$50 million target, with investors including Naver, Sea, Vertex Holdings, and Woowa Brothers. You can see all the recent Vietnamese startup deals here and all M&As in Southeast Asia here.
5️⃣ More tech companies to pay VAT in Indonesia
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