Funding

FWD Launches RM45 Million Fund to Invest in Insurtech and Islamic Fintech

FWD Group, a a pan-Asian life insurance business, announced the launch of a RM45 million fund in collaboration with Malaysian venture capital firm Artem Ventures. The fund, TIM Ventures, will be investing in emerging startups in the insurtech and Islamic

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SC Unveils Four New Digital Initiatives for MSMEs, Mid-Tier Companies

The Securities Commission Malaysia (SC) announced four new digital-related initiatives to spur the growth of the capital market and address the funding needs of Micro, Small, and Medium Enterprises (MSMEs) and Mid-Tier Companies (MTCs). The SC Chairman Dato’ Seri, Dr.

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Instapay Raises RM21.5 Million Series A to Fuel Its Expansion Plans

Payments firm Instapay Technologies announced that it has raised US$4.75 million (RM 21.5 million) in Series A funding round. This round was led by Daiwa ACA APAC Growth I with participation from Spiral Ventures Asia Fund I as well as

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Revenue Monster Group Bags RM30 Million From The SEA Capital

Malaysian fintech Revenue Monster Group announced that it has secured RM30 million in funding from private equity firm The SEA Capital, its second round of capital injection from the investor, following a recent restructuring exercise. The group has also formed

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Gobi Partners Closes US$10 Million Malaysia-Focused Fund Joined by Allianz

Pan-Asian venture capital firm Gobi Partners announced the closing of its US$10 million Gobi SuperSeed II (Gobi SSII) Fund following the participation of Allianz Malaysia as a Limited Partner (LP). Other LPs backing the Gobi SSII Fund are institutional investors

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Versa Asia Raises an Eight-Figure Funding Round

Versa Asia, a Malaysian digital cash management platform, announced that it had secured an 8-figure funding round. Details of the investment was not disclosed. This funding round was led by Hibiscus Fund, a venture capital fund managed by RHL Ventures

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TNG Digital Raises RM750 Million From Lazada and Touch ‘n Go

TNG Digital, the owner and operator of Touch ‘n Go eWallet, has raised RM 750 million during its latest round of equity funding. This funding round was led by a new investment from Lazada Group and a follow-on investment by

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MoneyMatch Set to Raise Series B Following Digital Bank License Win

Malaysian fintech startup MoneyMatch announced that it is one of the participants of the consortium led by KAF Investment Bank which was recently selected to receive an Islamic digital banking license in Malaysia. The consortium also comprises Jirnexu, best known

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Earned Wage Access Platform Payd Raises RM7.5 Million in Seed Funding

Payd, a Malaysian earned wage access solution provider, announced that it has raised US$1.7 million (RM7.5 million) in a seed funding round led by IFS Capital. The round also received participation from 1982 Ventures and The Hive Southeast Asia, a

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Luno Launches Early-Stage Investment Arm to Back Over 200 Fintech Startups

Luno, a wholly-owned subsidiary of Digital Currency Group (DCG), announces the launch of Luno Expeditions, a global, early-stage investment arm for fintech, crypto and web3 startups. The investment arm will now spearhead all of DCG’s early stage investing. The team

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