E-commerce
Changi Airport Group (CAG) and WeChat Pay announced that they have inked a three-year marketing partnership for joint shopping promotions at the airport.
Singapore
Singapore-headquartered robo-advisory solutions provider Bambu announced that it has completed a $3 million Series A funding round led by Franklin Templeton Investments.
E-commerce
Cainiao Network has made a US$290 million cash investment in Hangzhou-headquartered logistic service Dianwoda to strengthen its capability in last-minute delivery.
Social
Indonesia has overturned its ban on Chinese video app Tik Tok after it agreed to censor “negative content”, according to the Communications Ministry cited by Reuters in a report.
Internet
Although China’s internet penetration is just over 50%, its sheer scale means that there are 3x the number of smartphone users and 11x the number of mobile payment users in China than in the U.S, according to a recent China Internet Report released by Abacus, 500 Startups and the South China Morning Post.
E-commerce
Ride-hailing giant Grab announced it is stepping into the on-demand grocery delivery service with the introduction of GrabFresh.
Singapore
Indonesian ride-hailing giant Go-Jek has confirmed that it will expand its business to Singapore this year, following moves to Vietnam and Thailand.
Malaysia
Malaysian co-working space startup WORQ has raised a RM10 million (US$2.5 million) in funding from Bangsawan Consulting and Philip Capital.
E-commerce
Ascend Money, which operates the consumer-facing TrueMoney brand across six Southeast Asian countries, served 21.1 million customers in 2017.
Singapore
Credit management startup AsiaCollect announced it has raised an undisclosed funding led by SiG Asia Investments.
