PayMongo Co-Founder and Board Chairman Luis Sia (R) with the opposite two Co-Founders Francis Plaza (M) and Jaime Hing
PayMongo receives demand to investigate board chairman
‘As involved workers of the corporate, we’re frightened and disillusioned that Luis Sia continues to be concerned within the board of PayMongo’, an nameless particular person claiming to be a PayMongo worker filed the criticism through electronic mail.
MUFG partners with Danamon to launch US$100M startup fund in Indonesia
The fund, MUFG Innovation Companions Garuda No. 1, will spend money on Indonesian firms which might be anticipated to have synergies with Danamon; Danamon was acquired by MUFG and MUFG Financial institution in April 2019.
Investments in SEA slam the brakes in January
Primarily based on knowledge from Tech in Asia, there have been solely 47 funding offers in January, totaling US$220M; That is down from the 53 offers value US$840M recorded in December 2022.
Philippine VC firm Foxmont Capital closes US$21.3M Fund II
The buyers are Pavilion Capital, AppWorks, and Netherlands-based Orient Development; So far, Foxmont Capital has invested in 31 startups, together with Kumu, edamama, Colourette, Ztock, and Peddlr.
PayPal to shed 2,000 jobs globally
This accounts for almost 7% of the corporate’s complete headcount; PayPal now joins the rising checklist of worldwide tech giants saying layoffs, together with Amazon, Meta, and Alphabet.
Bangladeshi B2B e-commerce platform ShopUp bags US$30M debt financing
The funding consists of US$20M from Lendable and US$10M from The Metropolis Financial institution; ShopUp will use the funds for enlargement, strengthening provide chain operations, and serving to tackle the meals waste drawback in Bangladesh.
E-scooter rental startup WeMo nets US$15M for Thailand, Indonesia expansion
The buyers embody AppWorks and Taiwan Nationwide Improvement Fund; WeMo is partnering with governments, buyers, companies, and transportation suppliers all through Southeast Asia.
Freight rate management platform Freightify raises US$12M Series A
The buyers are Sequoia India, TMV, and Alteria Capital; Freightify supplies white-labelled price automation options to digitise freight forwarders’ price procurement, price administration and citation processes.
Gobi Superseed II Fund invests in Durioo+, Lapasar, Paywatch, pitchIN
Gobi Superseed II Fund targets early-stage tech-enabled Malaysian startups working in AI, Massive Information, cloud, e-commerce, fintech, IoT, and Halal financial system.
Healthtech firm WhiteCoat grows revenue 3x US$7.7M in 2022
The Singaporean agency targets profitability in its house market by the tip of the yr; The agency additionally goals to succeed in profitability in Indonesia and Vietnam inside 4 years.
Malaysian farmtech startup Secai Marche bags US$1.6M Series A
The buyers are Agribusiness Funding & Session, Spiral Ventures, and Past Subsequent Ventures; Secai Marche will use the brand new capital to develop its personal demand forecast system and optimise truck routing.
Indonesian cybersecurity startup Peris.ai raises funding
The buyers are East Ventures and Magic Fund; Peris.ai will use the cash to construct its cybersecurity platform, practice AI/ML capabilities, and nurture the moral hacker group.
Fund managers have their task cut out right now: Edward Tay
VCs should relook at their portfolio firms’ valuations as a part of the fiduciary function as a fund supervisor, says ex-Sistema Asia CEO; There’s been an elevated tendency to deal with sustainability-related investments in 2023.
Balancing revenue, impact is social impact startups’ top challenge
SoundEye, The Posture Lab, and ACKTEC Applied sciences reveal the challenges that they’re going via and the way Sustainable Affect Accelerator may help them sort out them.
Be hungrier and bolder to explore a variety of industries: Sharina Khan of Thoughtworks
The Lead Guide and Expertise Designer at Thoughtworks talks about plunging into the danger of switching careers whereas juggling motherhood.
Web4, a vision of an intelligent, decentralised web
AI and the Symbiotic Net are key applied sciences that may drive the event of Web4; Web4 goals to supply a safer and personal internet, the place customers have extra management over their knowledge and the way it’s used.
How the metaverse and blockchain accelerate economic development
Blockchain know-how serves as the inspiration for the metaverse, as many functions inside it run on blockchain methods.
Genesis bankruptcy: Luno Malaysia assures funds are safe
Luno is Genesis’ sister firm and lending companion; In Nov 2022, Luno took steps to make sure its clients had entry to their financial savings wallets after Genesis determined to droop redemptions and mortgage origination briefly.
Year of the rabbit: Leaping into a bumper year for digital payments
The place innovation grows, it is important that regulation should observe, notably within the funds business the place belief is of paramount significance.
3 success tips to help e-commerce businesses unlock online success
The complete potential of the APAC area stays untapped, and there’s a nice alternative for progress and funding within the e-commerce area.
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The publish Ecosystem Roundup: MUFG forms US$100M fund in ID; Investments in SEA slow in Jan; PayMongo board chairman in trouble appeared first on e27.
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