Tag: Southeast Asia

Vietnam – Houze, a proptech startup in Vietnam that offers a fully integrated real estate ecosystem for agents and customers through its offline-to-online platform, has raised a $2m of funding led by DKRA Group, giving the company resources to continue expanding its services and growing its team to meet the demand in Vietnam and beyond.

Houze has created a multi-platform for both real-estate agents and home-buyers, offering integrated services from the transaction, management, investment, and financing options. It features services such as Houze Agent (digital brokerage), Houze Commerce (property management platform under SaaS), and Houze Invest (Fintech resulted from real estate), amongst others. All these services are integrated and linked in Houze, providing a seamless experience for its users, and managing to combine the elements into one unique platform. 

The newly secured funding will be used in completing the leadership team, as well as enhancing the core products. In addition, it will be used for the strategic partnership with Vietnam’s real estate service brand DKRA Group, which creates the advantage of exclusive inventories and enhances battlefield experience in the real estate industry in the country

Houze said that it is also in the process of closing an additional fund with venture capital to launch new products such as Houze Portal, Houze Super App, and Houze Finance.

Pham Lam, Houze’s founder, said, “Technology will disrupt geographical limitations and human capital, closing the gap between agents and home-buyers and professionalise the brokerage community.”

Vietnam – Ancient8, a blockchain gaming guild in Vietnam, has closed a US$6m private round of financing led by Makers Fund and C² Ventures, with participation from existing and new investors Pantera Capital, 6th Man Ventures, and IOSG Ventures, amongst others. This round of financing brings Ancient8’s total capital raised to US$10m.

Ancient8 helps GameFi studios reach passionate gamers and run web3-native targeted advertising through its GameFi Identity product and launchpads. Gamers and crypto communities will soon be able to create GameFi identity profiles to track and showcase their achievements in Web3, discover high-quality blockchain games, and access guild scholarships and blockchain education more effectively.

With this round of financing, Ancient8 will be accelerating the development of the infrastructure for GameFi and the Metaverse by building its next-generation software products, community, and guild. It is also developing a number of software products designed to underpin the future of blockchain-based game development. 

In the coming months, Ancient8 will be launching its GameFi Identity product and a pair of GameFi Token and NFT Launchpads designed to enhance the go-to-market strategy of Web3 games. These products will help the platform connect top blockchain games with its deeply engaged global community of GameFi enthusiasts and enable users to enjoy the most intuitive experience possible in the world of Web3.

Howard Xu, Ancient8’s co-founder, noted that they will continue to expand their product offerings, partner with more innovative projects and games, and grow their influence and reach with a large global community.

“As cultivators of the first native generation of Metaverse citizens, we are excited to be building the foundational infrastructure that will drive mainstream GameFi adoption,” said Xu.

Hanoi, Vietnam – Vietnam’s technology solutions and digital entertainment content provider Appota Group has closed a financing round led by Mirae Asset Venture Investment, with participation from other strategic partners. The investment is earmarked for developing the company’s blockchain ecosystem based on its 10-year gaming publishing business.

Anthony Tran, Appota’s group co-founder and COO, commented, “We are excited to have Mirae Venture on this journey. As an Appota investor since 2017, Mirae’s guidance has been crucial to our focus on continuous innovation. This initiative will make blockchain technology more accessible to gamers, developers, and community members.”

One project, ChainVerse, aims to serve hundreds of local independent game studios by removing the steep learning curve and letting developers focus on building great games. Tuan Nguyen, ChainVerse’s CEO, said: “We provide developers with powerful, effective, and affordable tools for integrating blockchain digital assets and reaching 50 million mobile users in Appota’s ecosystem.”

Meanwhile, another project initiative, AceStarter, is a next-generation launchpad that curates and launches world-class blockchain projects globally. The platform is a bridge that connects communities and investors with high-potential, early-stage offerings.

Tran shared, “With ChainVerse and AceStarter, we are well poised to capitalise on opportunities, not unlike the early Internet revolution. Appota will debut products relating to game guilds management platform and web3 game streaming platform by the end of this year.”

Singapore – Food manufacturing group OTS Holdings has launched a new plant-based, ready-to-eat food brand ANEW, which aims to deliver quality, nutrition, and convenience to consumers with a taste of heritage, coupled with the tagline ’Better Food Forward’.

Developed by its in-house R&D team and manufactured in Singapore, the first product line-up from ANEW consists of three luncheon meat products that are inspired by the group’s popular luncheon meat products.

ANEW’s nutritional product features include non-GMO, cholesterol-free, trans-fat free, and no added preservative. Its luncheon meat products are sold in online stores and will be made available in major supermarkets across Singapore.

Bee Chip Ong, managing director of OTS Holdings, shared that increased awareness of environmental and sustainability benefits have been a key driving force for plant-based alternatives to become a growing part of consumers’ diet around the world.

“In addition, plant-based alternatives can also mitigate concerns of food security as the world’s population continues to grow. With ANEW, we see an opportunity to participate in the fast-growing plant-based foods market, where we want to be able to meet consumer’s expectations so that they can continue to enjoy their favourite food experience with our plant-based products based on our popular recipes,” said Ong.

California, USA — Citcon, the one-stop gateway to the growing payment options that enable cross-border and in-market commerce to scale, has announced the organization’s latest expansion efforts in the Asia Pacific (APAC) region. Following a successful Series C fundraise in October 2021, the global payments provider has expanded its portfolio of local wallets and alternative payment schemes to more than 200 and added in-market senior leadership and support staff to bolster its market presence throughout the APAC region.

With its expanded in-market presence, Citcon is rapidly expanding digital wallet and local payment scheme integration throughout APAC, recently adding more than 50 popular local wallet solutions to better serve consumers in South Korea, Japan, Australia, Singapore, and many more.

Additionally, Citcon has also expanded its integration with AliPay, WeChatPay, PayPal, and Klarna which have emerged as leading payment platforms serving global markets. Today, Citcon’s single API solution enables merchants to access more than 200 payment methods through a single integrated payment, reconciliation, and settlement solution.

Chuck Huang, founder and CEO of Citcon, commented, “The booming middle class in APAC markets is the most important force driving global commerce. While western brands and western styles will find eager customers throughout Asia, buying and selling merchandise is still a hyper-localized process. We have rapidly grown our APAC market presence, including adding in-country experts and staff to help our partners to scale their businesses throughout the continent and beyond.”

To manage its on-the-ground presence, Citcon has expanded its in-market leadership team in key locations, including Japan, Australia, Singapore and Hong Kong. Citcon recently welcomed Andrew Meimes, VP and head of Citcon APAC, as well as Ian Zhang, GM for Australia, New Zealand and Hong Kong, and Siddharth Sahi, director of APAC payment partnerships based in Singapore.

Meimes shared, “As our markets have rapidly evolved from largely cash-based to cashless, consumer culture has undergone a dramatic shift. Merchants need the functionality to integrate into the new shopping and commerce models in these markets and the cultural insights to optimize their presence with the consumers they wish to engage.

Jakarta, Indonesia – Southeast Asian automotive marketplace platform, Carro, has invested US$53.8m to become a 50% shareholder of Indonesian consumer automotive and transportation company MPMX’s car rental arm MPMRent.

This investment will see Carro providing MPMX with an end-to-end ecosystem for consumers in Indonesia, including an online marketplace, financing, and rental, as well as repair, and aftersales.

The move is part of MPMX’s continuous effort to unlock the value of existing businesses, as well as invest in innovation and accelerate its digital transformation. Through this, Carro will be bringing its fully integrated online ecosystem from car marketplace to financing, big data, AI access to a fast-growing vehicle database, and relevant computer vision and pricing algorithms technologies. 

As a result, MPMRent will now be able to solidify its leading market position as the leading regional car rental company in SEA, providing access to a rapidly growing network of workshops, strategic nationwide rental and auction locations, and a profitable and diversified customer base, as well as strong operational capabilities.

Suwito Mawarwati, MPMX’s group CEO, commented that they are pleased to announce the agreement with Carro, and they are also grateful for the support and active role of their parent shareholder, Saratoga, in realizing this partnership.

He further shared that the company and Saratoga believe that Carro is an excellent partner that would be able to add strategic value to the business of MPMX through its standing track records of success and operational experiences in a fully-integrated online automotive ecosystem.

“This is an important and exciting next chapter for MPMRent whereas this partnership will create a one-of-a-kind integrated online and offline automotive ecosystem in Indonesia that offers a complete product and services offering for our customers using the marketplace, from rental and financing to insurance serving B2B and B2C markets,” said Mawarwati.

Meanwhile, Aaron Tan, CEO of Carro, noted that they remain steadfast and committed to investing and advancing their business in Indonesia despite the uncertain global macro environment. 

“We look forward to partnering with MPM to supercharge growth and transform the customer’s experience through the hundreds of engineers and data scientists across the CARRO Group,” said Tan.

Singapore — InMobi, an established provider of content, marketing, and monetization tech that help businesses fuel growth, has announced the expansion of its partnership with Microsoft Advertising to support enterprise and strategic advertisers in Southeast Asia (SEA).

Via the partnership’s expansion into SEA, InMobi will offer marketers an integrated solution to power their campaigns built on the search and native display capabilities of Microsoft Advertising and the mobile ad tech capability of InMobi’s advertising platforms.

InMobi and Microsoft have been in a strategic partnership since July 2018 to help enterprises accelerate their digital transformation by providing them with insights, audience, and engagement platforms for a connected world. The partnership was expanded in 2019 as InMobi added the Microsoft Advertising products and solutions to its offerings in India.

Nick Seckold, VP of Microsoft Advertising APAC, said, “Over the last 2.5 years InMobi has done a wonderful job establishing Microsoft Advertising’s Indian footprint while doubling revenue over the same period. InMobi’s successful track record in India has led Microsoft Advertising to extend its coverage across SEA where they will be tasked with building close relationships with advertisers and agencies to grow the business in the region.”

As part of the expansion, Rohit Dosi, GM of the Microsoft Advertising business at InMobi, will take up additional responsibilities for growing the Microsoft Advertising business across the SEA market and leading the global relationship with Microsoft.

“The extended partnership between Microsoft Advertising and InMobi will enable marketers to deliver a unified brand experience to customers by bringing together the best of search and native display platforms across both organizations,” Dosi shared.

InMobi will be responsible for the sales, account management, marketing, finance, collection, and billing for Microsoft Advertising customers managed by InMobi, in India and SEA, from now onwards. The direct billing with InMobi is intended to enable a seamless and hassle-free experience for advertisers, from InMobi, as they leverage its services.

Meanwhile, commenting on the effect InMobi and Microsoft Advertising has done on their brand, Ankit Maheshwari, VP of marketing at Angara, an online diamond and gemstone jeweller, said, “The InMobi team is pivotal to the success that Angara witnesses with Microsoft Advertising. Their proactive approach has time and again enhanced campaign efficiency, driven innovation, and delivered healthy returns for the brand.”

Jakarta, Indonesia – IDN Media, the media platform for Millennials and Gen Z in Indonesia, has secured a Series-D investment led by Mayapada Group and KMIF, with participation from East Ventures, OCBC NISP Ventura, and Dentsu Group, as well as V Media Ventures. 

IDN Media aims to democratise information for all Indonesians, especially Millennials and Gen Z. With a comprehensive and end-to-end ecosystem, it operates four major business verticals, namely content platform, digital media, commercial, and entertainment. 

The newly secured investment will not only allow IDN Media to accelerate the growth of its users through the super-app and ecosystem strategy, but also advance its technology, strengthen the teams, and execute strategic partnerships and acquisitions. 

Winston Utomo, IDN Media’s founder and CEO, shared that while this Series-D investment is an important milestone in their journey, the mission to democratise information for all Indonesians is always a work in progress. 

“We will keep working very hard to become a 100+ years old sustainable and healthy company that brings positive impacts on society. One step at a time, for a better Indonesia,” said Utomo.

Meanwhile, William Utomo, IDN Media’s founder and COO, noted “The next eight years will be very different from the past 8 years. After the Series-D investment has been secured, we have prepared several strategic initiatives to be executed as soon as possible. This will be a very exciting new era for IDN Media.”

Dato’ Sri Prof. Dr. Tahir, Mayapada Group’s founder and chairman, said, “We deeply believe in the vision of brothers Winston Utomo and William Utomo. They are young, ambitious, and hardworking individuals who have a dream of making a difference in the future of Indonesia. Mayapada Group is very excited to partner with IDN Media to bring Indonesia to greater heights.”

Kuala Lumpur, Malaysia – Alliance Bank Malaysia has launched its latest digital solution, Digital SME, which aims to help SMEs manage and grow their business faster by leveraging the bank’s suite of innovative digital solutions.

The Digital SME loan offers up to RM500,000 collateral-free financing via a simple online process that only requires submission of the company’s six-month bank statement. To facilitate the application process, the Digital SME loan application is available in three languages, namely English, Bahasa Malaysia, and Mandarin. The bank also provides advice to SMEs on how to establish credit history and improve their credit profile.

Kevin Shum, Alliance Bank’s SVP and head of Digital SME, noted that they know that micro-enterprises may face issues obtaining financing due to their limited credit history, so they wanted to help them build their credit history by starting them with a small credit line, and subsequently help them expand by providing them quick access to financing via Digital SME once they are ready. He further shared that this financial year, they aim to provide up to RM200 million in digital SME loans.

“We want to enable our business customers to remotely open a digital business current account anytime, anywhere. The digital business account will comprise several innovative features, including a small overdraft line and business credit or debit card to help business owners manage their expenses more efficiently,” said Shum.

In addition to financing, Digital SME also offers financial advice on managing the business more efficiently. Aaron Sum, Alliance Bank’s group chief strategy of marketing and business development officer, stated, “Micro and small businesses face their own unique challenges while running their business, such as limited access to operational resources and recruiting talent. Through our BizSmart Solution portal, businesses can access relevant products and services such as digital marketing, logistics, accounting and data analytics at better rates to help them grow and run their business efficiently.”

BizSmart Solution portal is a one-stop online business community portal with over 200 partners, enabling business owners to reach out to new customers and access a wide range of business solutions at preferential rates.

The Digital SME financing is applicable to businesses that have been in operation for at least a year and with an annual turnover between RM50,000 and RM30 million.

Singapore – ANEXT Bank, a digital wholesale bank in Singapore under Ant Group, has announced its soft launch. This follows its receipt of the Monetary Authority of Singapore’s (MAS) approval to commence business on 2 June 2022. 

The new digital bank will focus on providing digital financial services to local and regional MSMEs, especially those engaging in cross-border operations for growth and global expansion.

Toh Su Mei, ANEXT Bank’s CEO, believes that it’s time to offer the next generation of financial services that are accessible and effortless for growing businesses, and financial services have to evolve and be where SMEs are doing their businesses digitally.

“We are well-positioned to live up to this vision, leveraging Ant Group’s deep bench of technologies and know-how, along with our customer-obsessed local team dedicated to serving the SME community. Adopting an open and collaborative approach, we believe in joining hands with industry partners and the public sector to provide SMEs with financial services that are simpler, safer and more rewarding,” she said

Meanwhile, Sopnendu Mohanty, chief fintech officer at MAS, said that this marks yet another milestone in Singapore’s digital bank development journey, a strategic effort to ensure the banking sector remains progressive, globally competitive and vibrant. 

“MAS expects the digital banks to thrive and synergise with our dynamic financial institutions and raise the bar in delivering quality financial services and uplift Singapore’s financial sector to better support the growth of SMEs in Singapore, the region and in emerging markets,” added Mohanty.

ANEXT Bank has also signed a two-year MoU with Proxtera – the entity supported by MAS, the Infocomm Media Development Authority (IMDA) and private sector entities, to transform and enable holistic cross-border trade amongst SMEs and businesses by making marketplaces efficient and discoverable globally, with embedded financing, fulfilment services, and SME empowerment.

The MoU will see both organisations jointly create and establish an open framework for all participating financial institutions as they provide financing and risk mitigation support for SMEs and platforms in global trades. ANEXT Bank will also be Proxtera’s first participating digital wholesale bank in Singapore to lead the way in providing financing solutions to the buyers and sellers on Proxtera’s network.

Saurav Bhattacharyya, Proxtera’s CEO, shared that their commitment is to simplify global trade for SMEs and uplift them with the power of networks, leveraging modern technology to improve discoverability, accessibility, availability, and affordability of innovative digital services. 

“This mission is closely aligned with ANEXT Bank’s focus to serve SMEs engaging in cross-border operations. Together with ANEXT Bank’s digital-born identity and digital-first capabilities and services, I’m confident that we can make trade easier, more seamless and efficient for SMEs,” said Bhattacharyya.

As part of its soft launch, ANEXT Bank has provided a preview of the ANEXT Business Account, a dual-currency deposit account with proprietary security measures including three-factor authentication verification, as well as features, such as remote onboarding and daily interest. 

The bank is also calling on SMEs to share their thoughts on what they hope to see in financial services – it recognises in order to bring about what’s next in financial services, it starts with the needs of SMEs. Entries, as well as registrations of interest to open an account, are available from today via its website www.ANEXT.com.sg. The ANEXT Business Account will be made available to the general SME community in the third quarter of 2022.