BNPL major Atome confirms exiting Vietnam
Atome entered Vietnam in April last year, starting with a pilot with over 20 retail partners.
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Atome entered Vietnam in April last year, starting with a pilot with over 20 retail partners.
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Former retail lenders at the Indonesian agricultural financing startup are said to have suffered losses amounting to around US$33.4 million.
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The insurtech firm launched in 2016 and had operations in Thailand.
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The venture debt fund will primarily back startups operating in sectors like direct to consumer, software as a service, B2B commerce, and fintech.
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Hann Liew and Lucas Ooi will remain as shareholders and board members of the Malaysian fintech company.
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Singapore’s big three banks still dwarf their fintech rivals in sectors like loans and wealth management.
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The Singapore-based firm plans to use the funds raised to expand its products and services, and to enter new markets such as the Middle East.
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Last year, the firm behind Tonik Digital Bank raised US$131 million in a series B round led by Mizuho Bank.
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After the pandemic-induced drop in Southeast Asia’s Japanese fintech funding, MUFG was among those driving its comeback.
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In The Top Up this week, we look at a rebound of Japanese investments into Southeast Asia and slowing growth at wealthtech firm StashAway.
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Justin Choi replaces Spenmo co-founder Mohandass Kalaichelvan, who will take an advisory role at the firm.
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After a varied career in consulting, Kai Wu took a leap of faith into the world of fintech.
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Investors on the peer-to-peer lending platform claim they were not duly informed of the change, which took effect on June 1, 2023.
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The Singapore-headquartered company has secured similar licenses in other key markets such as Hong Kong, Thailand, and the Philippines.
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ZaloPay said it is the first Vietnam-based digital wallet to have its services integrated into the Shopify platform.
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The company incurred US$27.4 million in expenses in 2022, down 5.8% compared to the previous year.
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This new tech can transform how banks operate, but concerns over regulation, data security, and systemic biases will act as a constraint.
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