BRCK acquires ISPs EveryLayer and Surf to boost Africa’s public Wi-Fi

Jake Bright Contributor More posts by this contributor Africa Roundup: Zimbabwe’s net blackout, Partech’s $143M fund, Andela’s $100M raise, Flutterwave’s pivot Partech is doubling the size of its African venture fund to $143 million Kenyan communications hardware company BRCK has acquired the assets of Nairobi based internet provider Surf and its U.S. parent EveryLayer in a purchase deal of an undisclosed […]

Indonesia-focused Intudo Ventures raises new $50M fund

Intudo Ventures, a VC firm focused on Indonesia, has closed a new $50 million fund. This is Intudo’s second fund to date following its $20 million debut last year. The firm is a relative newcomer to Southeast Asia but a key differentiator is that it is solely focused on Indonesia, which is the world’s fourth most populated country […]

E-commerce startup Zilingo raises $226M to digitize Asia’s fashion supply chain

If you’re looking for the next unicorn in Southeast Asia, Zilingo might just be it. The 3.5-year-old e-commerce company announced today that it has raised a Series D round worth $226 million to go after the opportunity to digitize Asia’s fashion supply chain. This new round takes Zilingo to $308 million from investors since its […]

First China, now Starbucks gets an ambitious VC-funded rival in Indonesia

Asia’s venture capital-backed startups are gunning for Starbucks . In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to kill time or […]

Facebook removes hundreds of accounts linked to fake news group in Indonesia

Facebook said today it has removed hundreds of Facebook and Instagram counts with links to an organization that peddled fake news. The world’s fourth largest country with a population of over 260 million, Indonesia is in election year alongside Southeast Asia neighbors Thailand and the Philippines. Facebook said this week it has set up an ‘election […]

Go-Jek makes first close of Series F round at $9.5B valuation

Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers. Sources told us last week that it has closed around $920 million, but we understand that today the round is at more than $1 […]

Grab raises $200M from Thailand-based retail conglomerate Central Group

Grab’s fundraising push continues unabated after the Southeast Asian ride-hailing firm announced that it has raised $200 million from Central Group, a retail conglomerate based in Thailand. Central’s business covers restaurants, hotels and more than 30 malls in Thailand, while it has operations in markets that include Vietnam and Indonesia. Its public-listed holding companies alone are worth more […]

Southeast Asia’s Grab is adding Netflix-like video streaming to its ride-hailing app

Grab is Southeast Asia’s top ride-hailing firm thanks to its acquisition of Uber’s local business last year. Its biggest competitor gone, the company is on a push to go beyond transport and become an everyday “super app” — and that strategy just embraced video streaming today. That’s because Grab is integrating video-on-demand service HOOQ — […]

Go-Jek makes first close of $2 billion round at $9.5 billion valuation

Southeast Asia-based ridesharing firm Go-Jek is making progress with its plan to raise up to $2 billion in fresh capital to fund its battle with close rival Grab. Indonesia-headquartered Go-Jek has closed an initial chunk of that round after a collection of existing investors, including Google, Tencent and JD.com, agreed to invest around $920 million toward […]

Singapore’s Credit Culture raises $29.5M for its soon-to-launch digital loan business

Singapore’s digital fintech companies are attracting investor attention and dollars in 2019. Fresh from Singapore Life — a digital-only insurer — raising $33 million across two recently closed rounds, so Credit Culture, a digital loan specialist — has banked SG$40 million ($29.5 million) ahead of its imminent launch. Credit Culture has raised its capital from […]