Malaysia-based financial comparison startup Saving Plus has closed a $3 million Series A round to move into new digital banking services. The company has also renamed itself Jirnexu.
The company was founded in 2012 by its CEO and former Citi banker Yuen Tuck Siew to provide better financial choices for consumers via banking comparison sites. Arriving home to Kuala Lumpur following more than decade in the UK, Siew struggled to rebuild his personal finances in the same way as he’d done when he moved to the UK, where the likes of Money Supermarket provide clarity and options for consumers.
Whenever a prime minister of a conservative developing country urges his people to support local tech start-ups, it is held up as evidence that populist sentiment for modernism, internationalization and riskier investment classes is finally evolving. When the leader in question also happens to be military strongman with complete control over policy implementation and local media, the message becomes all the more convincing.
This is what happened in Thailand late last month when General Prayut Chanocha officially opened the Startup Thailand 2016 fair at the National Convention Centre in Bangkok. The event served as a publicity vehicle for the government’s new THB20 billion ($574 million) venture fund, which aims to foster 10,000 start-ups in the country by 2018.
Backed by Hong Kong-listed FIH Mobile and Chinese imaging apps specialist Meitu, social entertainment apps provider migme plans to expand its operations this year in India, the world’s fastest-growing smartphone market.
“[After China] the next explosion of social media is in emerging markets” said Steven Goh, the founder and chief executive of Singapore-based migme.
Singapore-based ad tech firm CtrlShift, formed at the start of last year from the merger of three companies, has named former Mindshare veteran Deepika Nikhilender as its new managing director.
Nikhilender joins the programmatic trading firm after an 18-year career at Mindshare, the last 11 as Asia Pacific business planning leader. She was also chief executive of Mindshare Growth and Emerging Market Solutions (GEMS) for the past two years.
Singapore-based venture capital firm DMP has led a $2.5 million Series A round for clinical services marketplace Medical Departures.
According to a statement, the capital will be used to expand the range of clinics and procedures the company offers in regions including Southeast Asia. Other participants in the round included Hubert Burda Media, CyberAgent Ventures and OPT SEA.
Shares in social media entertainment provider migme have soared by more than a third after Chinese mobile app developer Meitu invested almost $7 million in the company.
ASX-listed digital media company Migme has released its latest numbers showing impressive growth.
The company, headquartered in Singapore, says it raised its revenue by 525 percent to US$8.7 million in 2015 from the year before, helping trim its net loss by 27 percent to US$14.9 million.
It also grew its monthly active users to 32 million, a 220 percent jump from 2014. That growth was “mostly organic,” co-founder and CEO Steven Goh tells Tech in Asia.
2C2P, the leading Southeast Asian payments services company, together with Myanmar’s Asia Green Development Bank (AGD Bank), the Myanmar Payments Union (MPU) and UnionPay International (UPI), have launched the ‘UnionPay and MPU Co-Brand Debit Card’, the first co-branded debit card in Myanmar that can be used to transact both locally and internationally.
Grain, a Singapore food tech startup, has landed funding to build out its “full-stack” approach to food deliveries in the Southeast Asian city-state. The Series A round is officially undisclosed, but TechCrunch understands that the total amount raised is SG$2.45 million, or US$1.7 million.
The financing was provided by a collection of investors, including NSI Ventures (lead), Ivan Lee — who founded and sold Thai Express in Singapore — 500 Startups, and Digital Media Partners (DMP).
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