This comes as rivals Grab and Go-Jek push aggressively for the adoption of their own in-app payments platforms
BandLab has made a series of acquisitions, including Chew.tv, and Mono Creators Inc.
Sea is relying on a steady revenue flow from its online gaming business to fund investments in e-commerce and digital payments.
The startup plans to roll out mobile wallet services across Southeast Asia next year.
IPOs & Markets
Sea’s stock slipped 9.9 per cent in New York trading Wednesday to close at $13.73.
Investors are putting money into the region’s venture firms as they seek opportunities beyond the US and China.
Assets managed by wealthy clans in the region have grown to more than $17 trillion.
Sea was founded by Forrest Li as an online gaming company in 2009 and originally named Garena.
The fund marks the first time it has raised money from outside investors such as Kasikornbank.
Go-Jek’s digital payment service will be a key part of its push into new markets.
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