By Juliet Shwe Gaung
This will be its second acquisition since its listing on the Singapore exchange in January
The financing will help improve access to microfinance for people in Myanmar so they can start new businesses or invest in farming.
Apart from security services, EXERA also seeks to develop cash management capabilities across Myanmar.
The companies engaged are KoreaLand, Myanmar’s Alliance Star and Shwe Taung Company.
Advans Myanmar, an MFI backed by Luxembourg-headquartered Advans Group, will use the funds to expand its operations.
The French company will hold a majority stake in the venture, while the remaining equity would be split between Yoma Strategic, Delta Capital Myanmar, and Htun Win and Zaw Win (Win Brothers), who are experienced professionals in Myanmar’s alcoholic beverages sector.
Yangon has seen 846 foreign investments approved for a total of $20.2 billion.
nexlabs had earlier received a six-digit investment led by Singapore VC Vulpes and Bilbros Capital Partners.
The Central Bank of Myanmar has issued a licence to Myanmar Credit Bureau Limited, a JV between Myanmar Bank Association and Singapore’s Asian Credit Bureau Holdings.
TPG-backed Apollo Towers Myanmar is seeking to merge with rival Pan Asia Majestic Eagle.