China: Wecash to invest $1.5b in digital apartment rentals platform

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Wecash made the announcement following the completion of its $80-million Series C round led by China Merchants Venture Capital Management, Forebright Capital, and SIG. The goal is to transform the local home rental sector through the application of new technologies, the company said.

China’s Tencent, JD.com invest $863m in online retailer Vipshop

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The deal comes as Tencent pushes into retail, leveraging its relationship with JD.com and popular app WeChat.


With SoftBank’s push, Flipkart sets sights on 60-70% market share in next few years

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The Japanese investor has assured Flipkart that it is willing to pump in “several billions of dollars” to help it expand the e-commerce market and widen its narrow lead over rival Amazon India.


Lippo Group’s Ovo enters co-branded partnership with GrabPay in Indonesia

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Grab and Ovo have another common link: The Riady family. The Riady family, which owns the Lippo Group, has invested in Grab through Venturra.


Singapore: Fullerton unit partners Canadia to launch digital wallet in Cambodia

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This is Fullerton’s second investment in Cambodia after it launched Cambodia Post Bank in 2013, in which it has a 45 per cent stake.


Flipkart India’s wholesale unit revenue growth slips in FY’17

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In the previous financial year of 2015-16, the wholesale business had registered growth of 34%.


Go-Jek acquires three fintech firms as battle for payments heats up

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It acquired Kartuku, Midtrans and Mapan marking the largest exit in Indonesia’s nascent startup ecosystem so far.


Uber rival Careem to expand across 30 cities in Pakistan

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Dubai-based Careem operates in more than 100 cities in the Middle East, North Africa and South Asia.


Tencent’s digital music service underpins Spotify, Apple in China

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Asia’s biggest internet company wants to capitalize on digital-music sales in mainland China that are expected to surge 88 percent within four years.


Uber makes friends with former Asian taxi foes to win riders

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Uber said Wednesday that it will bring Howa’s fleet of 4,000 taxis in Bangkok onto its app. This follows last week’s deal to sell 51% of its Singapore car rental unit to taxi operator ComfortDelGro Corp. for S$295 million.