SEA Digest: Chope backs Getz Group; Meraque partners MDV; Luno teams up with FIS

Cherry Huang, general manager of global merchant partnership, South and Southeast Asia at Alipay, and Arrif Ziaudeen, CEO of Chope. Source: Chope.

Singapore’s Chope has invested $720,000 in Getz Group, Malaysia’s drone tech firm Meraque Services is partnering Malaysia Debt Ventures Berhad (MDV), while cryptocurrency app Luno is teaming up with FIS.

Ant Group-backed Chope invests $720k in Getz Group

Singapore-based F&B startup Chope has invested S$1 million ($720,000) in Getz Group, a digital payments provider that allows diners to pay at restaurants.

Singapore-based Getz is an ordering solution for F&B merchants that powers online food delivery, table reservation solutions, and point of sales systems. The company claims that it has served over 1,000 merchants within a few years via its omni-channel solutions.

Chope was founded in 2011 and is currently available in Singapore, Hong Kong, Bangkok, Phuket, Shanghai, Bali, and Jakarta. The partnership with Getz Group is for eateries in Singapore.

In August last year, Chope secured $15 million from Ant Group as part of its Series E round. Earlier, it raised $10.6 million in a Series E funding round co-anchored by Australian VC Square Peg Capital, and Singha Ventures, the VC arm of Thai conglomerate Singha Corporation.

Malaysian drone tech firm Meraque partners with MDV

Meraque Services Sdn Bhd (Meraque), a Malaysian drone tech company, has partnered Malaysia Debt Ventures Berhad (MDV), a subsidiary of the ministry of finance, to facilitate the growth of Meraque’s operations and expansion in Malaysia and ASEAN.

The partnership will focus on key sectors such as agriculture, plantation, infrastructure and telecommunication, through MDV’s specialised financing facility.

“With the support of MDV, we will be able to expand our operations especially in the palm oil plantation in Malaysia while enabling our local partners to utilise technology in their operations and provide economic opportunities for communities in the rural areas,” said Md Razalee Ismail, CEO of Meraque.

According to the Malysian Research Accelerator for Technology & Innovation (MRANTI), the country’s drone economy is expected to contribute RM50.00 billion to its GDP and create 100,000 job opportunities by 2030.

Crypto firm Luno teams up with FIS

Global cryptocurrency app Luno has announced a partnership with NYSE-listed payment services provider FIS to allow Singapore users to purchase cryptocurrencies instantly using their credit or debit cards without depositing funds. This provides an alternative to the current Bank Deposit and StraitsX payment offerings.

FIS will provide underlying payment rails and its Worldpay merchant processing services, leveraging its position as a leading provider in the crypto industry. Luno will charge a flat fee of 3.5% for each card transaction, which it claims is “one of the lowest amongst MAS platforms with in-principle approvals”.

Founded in 2013, Luno has introduced over 10 million people to crypto in more than 40 countries across the US, Europe, APAC and Africa. It was acquired by DCG, the world’s largest blockchain investor, in 2020.

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