ASIAONE: It was all mapped out in the stars. Ms Jenny Lee was transported from a sheltered life in Toa Payoh to New Zealand as a 14-year-old Girl Guide on her first trip outside of Singapore. She spent four weeks there in all but it was one week of camping that gave her an epiphany.
TECHINASIA: Vladislav Solodkiy, Life.SREDA VC: It has been almost 2 months since I relocated to Singapore. During this time I saw about 100 fintech projects at different stages. My last article was dedicated to 5 most promising mPOS-acquiring startups, and now I’d like to introduce 15 more projects. (more…)
E27.CO: incub@TE, an incubator run by Tata Elxsi (part of the US$100 billion Tata Group), was launched in 2012 to nurture and support products- and service-oriented startups. This Bangalore-based incubator has now partnered with Get2Volume and AISB Holdings to provide cross-border programmes to early-stage ventures. Unlike other incubators, incub@TE forms a rather long-term association with its incubatees. e27 spoke to Rajesh Kumar, Vice President (Strategic Initiatives) at Tata Elxsi, to know more about the incubator. Read the full article
E27.CO: The Indian e-commerce market has found a new superhero — cashback. Move over discounts, cashback is the hottest new trend in business. Cashback is the newest trend to rock the entire Indian e-commerce game. Big players, emerging players, almost everybody in the e-commerce niche is embracing cashback culture, compelled by thick audience demand, surging market competition and latest funding rounds. It remains to be seen if the new fad stays strong in the long run or fizzes out in an industry that has been enveloped with deep discounting since its inception. Read the full article
TechInAsia: Indian women online shoppers in the age bracket of 18-24 are the most active and comprise of 52 % as compared to 20 percent between the age group of 25-34, 6% above the age of 34 and 2% less than the age of 18 years. On an average, most of the women prefer shopping online between 9 – 11 pm that too on Mondays and Fridays. Also, 80% women prefer Cash on Delivery payment option while only 20% opt for online transactions, said the survey. Read the full article
India will pass U.S. to become world’s second largest smartphone market by 2017: VentureBeat
India Now Uber’s Second Largest Market Following Expansion To 7 New Cities: TechCrunch
TechCrunch: BankBazaar, a startup that lets Indian consumers compare financial products online, has scored a $60 million Series C led by Amazon, with participation from Fidelity Growth Partners, Mousse Partners, and returning investors Sequoia Capital and Walden International. The platform aggregates information about online loans, credit cards, and fixed deposits from 23 financial institutions, which users can research and then apply for using its site or Android and iOS apps. BankBazaar says it gets four million unique visitors each month. For Amazon, its investment represents a chance to take a larger stake in the personal finance market. Read the full article
Read more on the topic: TechInAsia
E27.CO: GrabTaxi from Singapore is about to get US$200 million in fresh capital, pegging its valuation at US$1.5 billion. It quotes “a person familiar with the situation”, who has shared that the round is being led by US hedge fund Coatue Management LLC. The source also mentioned that existing investors SoftBank and Tiger Global Managementare also going to participate in the round. GrabTaxi’s last funding, a then record-breaking US$250 million round, happened just seven months ago in December 2014. Read the full article (more…)
Bloomberg: As more Chinese jumped into the market in the hope of instant wealth, peer-to-peer websites offering loans for stock investing have mushroomed. They are among a multitude of sources of leverage outside of traditional margin financing that threaten to complicate any efforts to prevent an unruly reversal of China’s stock market boom, which is already faltering. (more…)
TechInAsia: Mobile payment methods like Alibaba’s Alipay and Tencent’s Tenpay account for a huge portion of China’s online transactions. But do these new payment methods have the same kind of traction on offline shops and restaurants? Chinese tech news site Techweb recently conducted a survey of 1,607 businesses on a busy pedestrian street in Wuhan to find out. (more…)
E27.CO: South Korean restaurant discovery app MangoPlate has announced today that it has secured US$6.1 million from venture investment group of Qualcomm Incorporated, Qualcomm Ventures, as well as SoftBank Ventures Korea and YJ Capital, a venture capital firm established by Yahoo!JAPAN. This marks YJ Capital’s first investment in a Korean company. (more…)
TECHINASIA: It’s easy to spot the rapidly rising number of hotels and restaurants in Vietnam. But despite the industry’s noticeable growth, managing a hotel or chain restaurant still takes a lot of work and innovation. That’s where Hottab comes in. It’s a new Vietnamese startup that offers a new solution for point-of-sale (POS) management for F&B business. Hottab provides service tablets and a POS system for food and beverage (F&B) businesses. A cloud-based system connects all devices using Hottab. It includes an application installed on tablet devices that allows waiters to create new orders. It also enables customers to self-order at the table. (more…)
MOBILEMAKERS: The Indian government published proposals to encourage greater take-up of electronic payments in a country where cash still rules.It suggested a range of measures, including tax benefits to merchants if at least half of their transactions are handled electronically. Consumers could also receive income tax rebates if a certain proportion of their spend is cashless. Another idea is for government itself to drop certain surcharges it levies for making card payments.Among the objectives are improving financial inclusion, reducing the risks for individuals of carrying cash, cutting the cost of managing cash in the economy, as well as making tax avoidance harder.
TechInAsia: Vladislav Solodkiy, Life.SREDA VC: Last week Jack Dorsey, co-founder and CEO of Square, the world’s third largest fin-tech company by market capitalisation, also took a role of iCEO at Twitter. On top of that, a new wave of rumours about the company to go public by the end of this year hit the media. What do the Asian markets have to offer in respond to this? (more…)
DEALSTREETASIA: Equity-based crowdfunding platform Asian Crowdfunder has launched its operations in Malaysia this month, and is in the process of starting operations in Singapore, Indonesia and Thailand. The pan-Asian platform, which claims to be accessible to vetted accredited investors only, is founded by an international team of experienced and successful entrepreneurs and asset managers backed by decades of experience.
International Business Times: Paytm, which has recently forayed into online retailing business, is planning to bring in 1,00,000 sellers from Chinese e-tailer Alibaba’s online arm AliExpress to its platform from August. The Delhi-based company estimates its gross merchandise value (GMV) to increase by $1.5 billion from AliExpress businesses in the next six months. Paytm, originally a mobile payment services, has crossed $1.5 billion (about ₹9,600 crore) in GMV in the year ending April 2015. (more…)