And, Shopee surpassed Lazada as the most popular e-commerce application in Southeast Asia; SoftBank may not complete the $ 3 billion acquisition of WeWork.
India
SoftBank led a USD 807 million Series F funding round from OYO. According to DealStreetAsia, Indian hotel giant OYO Hotels & Homes has received approximately $ 807 million in F from two existing investors, SVF India Holdings, a wholly-owned subsidiary of SoftBank Vision Fund, and RA Hospitality, which is controlled by the founder of OYO Round financing. An OYO spokesperson said that the funds will be invested in operations and company training to achieve the company’s continued growth. Previously, the company fired about 5,000 employees worldwide.
YES Bank’s new management plans to recover approximately $ 135 million in non-performing loans. According to ET, the new management of YES Bank has set a target for the bank to recover 10 billion rupees (about 135 million US dollars) of non-performing loans and hopes to stabilize the new non-performing loans at 5% of the total loans . The person in charge of the bank also said that although the bank was ready for a surge in withdrawals, even during the suspension of the transaction, only two-thirds of those with deposits exceeding Rs 50,000 (about US $ 673) withdrew their funds. .
SaaS, a U.S.-based SaaS vendor, has named the former head of SBI as the CEO of India. According to DealStreetAsia, Amazon-owned SaaS maker Salesforce.com Inc. has hired Arendhati Bhattacharya, one of India’s most prominent former bankers, as the CEO of India. Batachaya was the head of the State Bank of India (SBI), India’s largest bank until 2017, and was the first woman to lead the bank.
Southeast Asia
Report: Shopee surpasses Lazada as the most used e-commerce app in Southeast Asia. According to Tech in Asia, the “E-Commerce Map” report for the fourth quarter of 2019 shows that Shopee’s monthly active users, downloads, and Internet access have exceeded Lazada invested by Alibaba in the second half of 2019, Become the most used e-commerce application in Southeast Asia. According to related analysis, Shopee’s rise to the top of the list is mainly due to the support of large companies such as Tencent.
Fintech company Revolut launches Apple Pay service for Singapore users