‘E-wallet factory’ MatchMove to raise US$150m - Venture Capital Deal
MatchMove helps companies build spending, sending, and lending capabilities within their mobile apps. Its banking solutions can either be integrated into a company’s existing app or made into an app for companies that don’t already have one – all within minutes.
Despite being known mainly as a ride-hailing company, Grab’s transport business is no longer the key driver of its growth. With the company expanding into other services in the past few years, food and financial services now generate more than 50 per cent of the Singapore-based company’s gross merchandise volume (GMV).
Singapore to mandate theory test for e-scooter users - Regulation
Singapore announces new rules for riders of e-bikes and e-scooters; the Ministry of Transport says users will soon have to pass a theory test if they want to ride such vehicles in public; the regulator says it’s also considering whether riders should be required to have insurance.
Style theory a fashion rental startup raises 15 million - Venture Capital Deal
Singapore-based fashion rental service Style Theory raises $15M Series B led by SoftBank Ventures Asia with participation from Alpha JWC Ventures and the Paradise Group; the company operates across Southeast Asia, providing short-term access to designer clothes and accessories.
Sleek raises 5m to help companies incorporate and operate in Singapore and Hong Kong - Venture Capital Deal
Singapore-based compliance firm Sleek raises $5M seed (expansion) led by MI8, Pierre Lorinet and Fabio Blom; the company offers enterprise tools for managing regulatory requirements; currently operates in Singapore and Hong Kong.
Grab launches numberless payments card - Payment
Southeast Asian ride-hailing major Grab announced the launch of digital and physical numberless payments card GrabPay Card, a culmination of its ongoing partnership with payments giant Mastercard. The digital variant of the new card is now available in Singapore.The GrabPay Card is set to be launched next in the Philippines during the first quarter of 2020.
Alibaba-owned Lazada Group and credit card issuer Citi announced the launch of the Citi Lazada credit card in Singapore. The Citi Lazada credit card in the city-state offers 12x reward points for every S$1 spent on Lazada shopping transactions during the launch period from December 2019 to February 2020.
SG’s payments firm Nium said to raise up to $100m in Series D round - Venture Capital Deal
Singapore-based cross border payments firm Nium (formerly InstaReM) is raising $75-100 million in a Series D funding round, according to three sources close to the development.