EV Growth closes $200M fund to cover Southeast Asia’s Series B funding gap

East Ventures has long been known as one of Indonesia’s longest-serving and most active seed-stage investors, but now it has officially moved up the food chain after it announced a final close of its growth fund at $200 million. Called EV Growth, the fund is a joint venture between East Ventures, SMDV — the VC […]

Travel activities platform Klook raises $225M led by SoftBank’s Vision Fund

We recently noted that SoftBank’s Vision Fund has stepped up its deal-making in Asia this year, and today it added a new company to its roster: travel services platform Klook. Hong Kong-based Klook announced today that it has raised a $225 million round led by the Vision Fund with participation from existing investors. The deal […]

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 […]

Warung Pintar raises $27.5M to digitize Indonesia’s street vendors

The digital revolution in Indonesia, Southeast Asia’s largest economy, continues to attract big money from investors. Hot on the heels of a $50 million round for Bukalapak, a billion-dollar company helping street stall traders to tap the internet, so Warung Pintar, another startup helping digitize the country’s vendors, has pulled in $27.5 million for growth. Bukalapak […]

Indonesian e-commerce unicorn Bukalapak raises $50M

The chances are you may be familiar with Tokopedia, especially after it commanded a $7 billion valuation last November when it raised $1.1 billion from investors like Alibaba and SoftBank’s Vision Fund, but fewer people outside of Indonesia are aware of another sizable local online retail unicorn: Bukalapak. Smaller than Tokopedia in size, the company is […]

Philippines fintech business Voyager raises $215M in Tencent-led round

One of the year’s largest fintech investments in Southeast Asia has closed after Philippines-based Voyager announced it raised $215 million. The bulk of the deal comes via a previously announced investment from Tencent, which, alongside PE firm KKR, agreed to invest $175 million. Added to that, Voyager has pulled in a further $40 million from International Finance […]

Sequoia wraps up new $695M fund for India and Southeast Asia

Sequoia has announced the close of its newest fund for India and Southeast Asia. The firm has raised $695 million for this fund, which is its fifth since it expanded into India 12 years ago. Reports at the beginning of this year suggested that the firm was shooting for a $1 billion fund, perhaps influenced by […]

Three Indonesian tech unicorns unite to back digital insurance startup

It’s almost unheard of to see three unicorns join forces to fund a startup, but that’s exactly what has happened in Indonesia. Ride-hailing company Go-Jek, e-commerce firm Tokopedia and travel booking startup Traveloka — each of which is valued in the billions of U.S. dollars — have come together to provide a Series A funding […]

Golden Gate Ventures hits first close on new $100M fund for Southeast Asia

One of the fascinating things about watching an emerging startup ecosystem is that it isn’t just companies that are scaling, the very VC firms that feed them are growing, too. That’s perhaps best embodied by Golden Gate Ventures, a Singapore-based firm founded by three Silicon Valley entrepreneurs in 2011 which is about to close a huge […]

Kredivo raises $30M to build a digital credit card for Southeast Asia

FinAccel, a Southeast Asia-based startup that offers a digital credit card service in Indonesia, has closed a $30 million Series B round as it begins to consider overseas expansion. The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially […]