And Chiratae Ventures and Sequoia Capital led a $ 14.7 million funding round for GoMechanic, an automotive service platform; Banco BV, a Brazilian bank, plans to acquire Just, a personalized loan platform owned by Brazilian fintech company Guiabolso.
Southeast Asia
Grab and Asia Communications Technology Group Singtel establish a joint venture and apply for a Singapore Digital Banking license. Going to learn that Grab will hold 60% of the entity and Singtel will hold the remaining 40%. According to its statement, since the launch of GrabPay, an electronic wallet in 2016, and the establishment of the Grab Financial Group in 2018, Grab has established financial solutions covering payment, points, loans and insurance. Going into digital banking will help Grab better understand the needs of people without bank accounts and bank credit in Southeast Asia.
Singapore-based venture capital firm EV Growth has completed its first fundraising of US $ 250 million. According to Tech In Asia, the final amount raised has exceeded the company ’s original goal of $ 150 million. According to the company statement, the new LP includes several Asian family offices and two sovereign wealth funds including Temasek. Established in 2018, EV Growth is a joint venture of East Ventures and Yahoo Japan Capital dedicated to investing in startups in Indonesia and other Southeast Asian countries. The company claims that it has invested in more than 20 companies so far, including Ruangguru, an Indonesian education startup that has just completed its Series C financing.
India Agricultural Technology ERP Software Provider FarmERP completes Series A financing. According to Inc42, the specific amount of this round has not been disclosed. The investor is Singapore-based IT and strategy consulting company Technogen. According to FarmERP, the funds will be used to build an AI-based climate information database to help customers deal with climate risks in agriculture.
The booking volume for OYO in 2019 is 2.7 times that of 2018. According to Inc42, the company claims that Delhi, Hyderabad, and Class Roll are the top three cities in India by volume.
GoMechanic, an Indian automotive service platform, has raised $ 14.7 million in funding