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MON, OCT 25, 2021 | |
A new face of angel investing has emerged: the ex-startup executive. Angel investing among startup founders and employees is on the up, and this rise has been accompanied by another trend: a boom in angel networks. These are groups of investors that have clubbed together to combine their skills and plug more money into startups. Startup operators are impacting the investments scene in other ways - becoming venture capitalists, or investors in funds. As the next wave of startups emerge, OG squad leader Grab is not about to let down its guard. GFG, the financial services arm of Grab, is expanding its merchant services and offering more "buy now pay later" options, we reported last week. Over in Europe, tech darling Sea has been making waves via its e-commerce arm Shopee. The online shopping platform's latest move into France - its third market in Europe - highlights its aggressive international push alongside markets like India and Latin America. But back in its home markets, Shopee could have yet another rival in the e-commerce space. Vietnam's Tiki is coming up strong, having secured US$240 million in funding from investors including AIA and UBS. The funding round has pushed it closer to a billion-dollar valuation. Like AIA and UBS, other corporates too are muscling in for a slice of the booming startup space. Saison Capital, the corporate venture arm of Credit Saison, recently bolstered its ranks by adding Glints co-founder Looi Qin En and former Grofers executive Visa Kannan. It's not just tech alumni who are eyeing the next wave of tech upstarts. Look below for other stories you may have missed. Have a good week ahead! Olivia Poh | |
GARAGE South-east Asia's young startup alumni are changing the face of investmentsTHEY helped build South-east Asia's current wave of startups. Now, tech founders and employees are helping to fund a new generation of companies and pass on important lessons. | |
TOPLINE Nutanix chief lays groundwork for profitability amid competitive pressureRAJIV Ramaswami, president and chief executive of Nasdaq-listed cloud computing company Nutanix, has created a stir since taking on his role in December last year. | |
Grab Financial Group expands merchant services, offeringsGRAB Financial Group (GFG), the financial services arm of Grab, is expanding its merchant services, including offering more "buy now pay later" (BNPL) options. | |
Shopee to enter France in aggressive international pushSHOPEE, the e-commerce arm of Sea, is preparing to push into France as part of its global expansion outside of South-east Asia, two sources close to the company said. | |
Ryde meets LTA's requirements for full ride-hail, car pool service licencesSINGAPORE'S Land Transport Authority (LTA) has converted Ryde Technologies' existing provisional licences for point-to-point services to a full ride-hail service operator licence and a full car pool service operator licence. | |
AIA, UBS funding sends Vietnam e-commerce startup Tiki to near-unicorn statusINSURER AIA Group has led a US$240 million funding round in Vietnam-based e-commerce platform Tiki, pushing its valuation to US$831.9 million as South-east Asia's online startups ride the wave of a pandemic-fuelled boom. | |
Glints co-founder, ex-Grofers SVP join Saison CapitalSAISON Capital has added Glints co-founder Looi Qin En and former Grofers executive Visa Kannan to its ranks to boost its operating expertise. The firm is also expanding into Pakistan and Africa. | |
Peter Lim's son and Ronaldo to combine football and tech with new startup[SINGAPORE] ZujuGP is an upcoming digital community built around football, helmed by the son of secretive Singaporean investor Peter Lim and fronted by global superstar Cristiano Ronaldo. | |
Spotify teams up with Shopify to allow in-app merch purchases[OTTAWA] Canadian e-commerce giant Shopify announced on Wednesday a partnership with music streaming giant Spotify that will allow in-app sales of artists' merchandise. | |
WeWork returns to Wall Street, two years after fiasco[PARIS] WeWork's financial woes and aborted IPO made headlines in 2019, but two years later the office-sharing giant is returning to Wall Street after seeking to renew itself in response to the pandemic. | |
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