Aspire provides SMEs with a 60-day, interest free credit line of up to S$100,000 to solve their working capital needs (more…)
Leading Southeast Asian ride-sharing provider Grab is considering applying for a digital banking license if Singapore’s banking regulator allows it, Reuters reported citing four people with knowledge of the process.
Grab, which acquired Uber Technologies Inc.’s Southeast Asian business and now carries a valuation of $14 billion, is close to hiring a consultancy firm to advise it on the matter, Reuters said. A company representative declined to comment.
Experian, the world leader in information services, is further expanding and investing in its innovation facility, Experian X Labs based in Singapore.
By Judith Balea for TechinAsia
OCBC Bank has been busy launching a string of firsts to ride the fintech boom. It just announced it has deployed voice recognition solutions to make it easier for customers to access different services. (more…)
ByMichael del Castillion for Coindesk
Deloitte has used Facebook’s recently released Messenger API to build an early version of a product capable of storing warranties on a blockchain and allowing users to buy insurance for items even after they’ve been purchased. (more…)
By Terence Lee for TechinAsia
Singapore’s banks are head over heels in love with fintech. Well, I’m exaggerating, but it’s true that financial institutions in the country are exploring ways to use technology to improve their offerings. (more…)
By Yon Heong Tung for e27,
It wants to become a platform for startups to raise funds, and is raising awareness through events, workshops and various outreach events (more…)
Southeast Asia’s leading lender DBS Friday committed S$10 million ($7.1 million) for Singapore’s startup ecosystem over the next five years, and a bulk of this amount is slated to go into programmes run by the bank such as its partnerships with local accelerators and incubators.
DealStreetAsia: Southeast Asian mobile point of sale (MPOS) venture SoftPay Mobile International, which is incorporated in Singapore but operates in Vietnam, has secured a $1-million Series A investment round led by Singapore-based fintech VC firm Life.SREDA, via their InspirAsia Accelerator. (more…)
TechInAsia: Fintech is one of the darlings of the startup world right now. VCs and investors are tripping over themselves to back startups with new and innovative ideas in the financial technology space. Investment in fintech startups in Asia reached US$797 million in 2014. This puts the continent in second place after the US, with US$3.9 billion, according to a report by Singapore-based venture capital firm Life.Sreda (PDF link). (more…)
E27.CO: Mobikon, a customer engagement and marketing platform for restaurants with operations in various countries across Asia, has secured an undisclosed amount in funding from Life.SREDA, a Singapore-based fintech VC firm. Qualgro Investment Fund, an ASEAN VC firm focussed on technology, education, healthcare and logistics, also co-invested in the round. (more…)
Vladislav Solodkiy, Managing Partner, Life.SREDA VC:
These days many countries are talking about the importance of innovations in the financial sector. Many of those are claiming that they will soon become the first to go completely cashless. They may be saying so, but what if they don’t really know how to do it? (more…)
E27: Meet the first 8 startups chosen for InspirAsia – Life.SREDA’s fintech post-accelerating programme: Softpay (Vietnam), Mobikon (Singapore), Rev (Malaysia), StoreHub (Malaysia), HotTab (Vietnam), Ayannah (Philippines), HomePay (Singapore), TIDE (Malaysia). Singapore-based fintech venture capital firm, Life.SREDA, has announced eight startups selected for its InspirAsia accelerator programme. Each startup that joins the VC fund’s 30-180-day pre-series A accelerator programme, which kicks off in September, will receive between $50,000 and $500,000 in funding, depending on the stage of the startup, in return for 5% to 15% equity, besides $250,000 in support services. At the end of the programme, the fund can decide on additional funding or bridge fundraising from other VCs from its network. (more…)
TechCrunch: With global investment in fintech having tripled in the last five years, the financial sector is without a doubt in the midst of a revolution. The leading cities in the global fintech race are relatively unsurprising: Silicon Valley, New York, London and Hong Kong are the epicentres of the investment blast. (more…)