Philippines-based cloud kitchen startup CloudEats has secured $1.4 million in a seed funding round, while Indonesia’s state-owned e-wallet Fintek Karya Nusantara, otherwise known as LinkAja, has launched a new sharia e-money service.
Philippines-based CloudEats bags seed funding
Philippines-based cloud kitchen startup CloudEats has secured $1.4 million in a seed funding round led by an undisclosed local family office, Tech in Asia reported on Wednesday.
Several angel investors also participated in the round.
Launched in June last year, the startup has partnered with 70 in-house restaurants and currently operates five cloud kitchens in the Philippines. Its meals are available through GrabFood, Foodpanda, and Lalafood.
CloudEats plans to use the proceeds to expand across the country and to add at least 20 cloud kitchens in the archipelago, the report said. It plans to add around 100 cloud kitchens across Southeast Asia, while also launching its in-house brands in four countries within two years.
LinkAja launches sharia-compliant e-money service
Indonesia’s state-owned e-wallet Fintek Karya Nusantara, better known as LinkAja, has launched a new sharia-compliant e-money service, the company announced on Thursday.
The startup has secured the Indonesia Ulema Council (MUI) certificate for its sharia e-money service as well as approval from Bank Indonesia. It has partnered with a number of Islamic banks for the service which will enable e-money transactions in accordance with sharia, or Islamic law, principles.
The service will prioritise transactions such as non-cash payments for online donations, zakat (alms giving) and waqf (charitable endowment under Islamic law).
The service will not allow transactions that are not in accordance with sharia such as gambling, gharar (obscurity), usury, and non-halal goods.