Founded by former Sequoia partner Yinglan Tan, the fund marks the largest maiden vehicle by a VC firm in SE Asia.
Existing backers include Kejora, Skystar Capital, Gobi & Axiata Digital.
The investment by Patamar, estimated to be in the region of $200,000-300,000, was made through its women SME-focused impact investment fund launched l
The two firms have applied to Bank Indonesia for an e-money licence.
Q & A
UShift plans to use the funds for expansion to four markets outside Singapore - Indonesia, Thailand, the Philippines and Malaysia.
With a footprint across Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines, the company partners with financial institutions and other strategi
Grab and Ovo have another common link: The Riady family. The Riady family, which owns the Lippo Group, has invested in Grab through Venturra.
It acquired Kartuku, Midtrans and Mapan marking the largest exit in Indonesia’s nascent startup ecosystem so far.
IPOs & Markets
It had earlier announced plans to sell a 30% stake via IPO in 2020.
Kulina was recently named among the four Southeast Asian startups selected for Google's Launchpad Accelerator programme.
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