Quona Capital closes US$203M round to focus on fintech companies in emerging markets
American VC firm Quona Capital, which focussed in growth-stage fintech companies in emerging markets such as Asia, Africa, and Latin America, announced the close of its second fund at US$203 million, according to Tech in Asia.
The fund has been said to exceed its US$150 million target, and receives support from various global asset managers, insurance companies, banks, university endowments, family offices, and development finance institutions.
Some of the firm’s investments in Southeast Asia include Koinworks, Julo, Sunday, and Ula.
Frogs Indonesia carries out flying taxi test flight in Yogyakarta
Jogjakarta-based startup Frogs Indonesia has carried out test flights of its two-seater all-electric taxi Frogs 282 at Gading Airport in Gunung Kidul regency on Saturday, according to Asiaone.
Developed over the past two years, the taxi floated a few centimetres above the ground during a series of trials and was examined by technicians after it landed. However, Frogs Indonesia CTO Dedi Satria Maulana expressed his dissatisfaction of the prototype.
According to him, improvements need to be done to the machine to cope with the “rather heavy” air density in the regency.
The test was conducted to prepare for the upcoming 2020 Hannover Messe technology exhibition in Germany.
2C2P adds Eva Weber as investment director to accelerate growth
Payment services company 2C2P announced today that it has appointed Eva Weber as its Investment Director.
With experience in the financial services industry, Weber will be responsible for future investments as well as investor relations.
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Most recently, Weber led financial planning and investor relations at Adyen, a global payment company headquartered in the Netherlands.
Undeterred by COVID-19, Hong Kong’s Omnichat lands US$800K seed fund from AppWorks
Hong Kong-based e-commerce messaging platform Omnichat announced that it has raised NT$24 million (US$800,000) seed funding round led by AppWorks. Joining the round was Aria Group and other undisclosed investors.
The proceeds will be used for customer acquisition and expansion within and outside of Taiwan, with plans to launch in Singapore and Malaysia in 2021.
The Hong Kong startup has recently worked with brands including HH Herbal, TOYSELECT, and Moët Hennessy.
By the end of 2019, Omnichat claims to have 3,600 new customers, of which more than 70 per cent were from Taiwan.
India’s Paytm Mall Executive Director Rudra Dalmia quits after promotion
Paytm Executive Director Rudra Dalmia has quit the company only less than a year since his promotion, according to a report by Entrackr.
Paytm Mall is the online consumer marketplace division of the Paytm brand, one of the largest digital payment services in India.
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“Dalmia resigned last month and is currently serving his notice period. His abrupt departure from the company raises questions on the coherence and longevity of Paytm Mall’s strategy,” the report quoted.
Indonesia mulls 2032 Olympics bid with SoftBank backing
Indonesian President Joko Widodo is considering to enter the bid for 2032 Olympics with potential financial support from SoftBank chief executive Masayoshi Son and other investors, Reuters wrote.
The plan centered around the country’s up-and-coming new capital in Borneo, which SoftBank had expressed interests to invest in.
Bahlil Lahadalia, chief of the country’s investment coordinating board (BKPM), stated that the government has submitted a bid for Jakarta.
Representatives of Grab and SoftBank have declined to comment.
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Anisa Menur Maulani also contributed to the writing of this article.
Image Credit: Quona Capital
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