Grab introduces new postpaid payment method in Singapore [The Star]
Grab has introduced a new payment method where consumers can use the multi-service platform first and pay later.
The postpaid feature dubbed PayLater works for Grab rides, food deliveries and more.
According to the website, users need to activate the feature on the app, after which they would receive a pre-approved monthly PayLater amount. However, it is not specified on the website if it is the user or Grab who sets the amount.
Users can then select the feature as their preferred payment method. No extra charges occur for choosing this method.
Ola secures US$11M from DIG Investment, Deshe Holdings and Jabbar Group founders [The Economic Times]
Ride-hailing giant Ola has raised US$11 million in fresh funding from a set of new investors, including Swedish DIG Investment, US-based Deshe Holdings and the two founders of Dubai-based Jabbar Internet Group.
Regulatory filings sourced from business intelligence platform Paper.vc showed that the investments are part of Ola’s ongoing Series J round. The company has so far received commitments of nearly US$470 million in investments in this round.
Earlier this year, Ola announced a US$100 million investment from Flipkart co-founder and former CEO Sachin Bansal, followed by a US$300 million investment announcement from Korean automotive giants Hyundai and Kia Motors. The full investments have not been received so far.
Dentsu Aegis Network acquires Ambient Digital Vietnam [DealStreetAsia]
Marketing agency Dentsu Aegis Network has acquired Ambient Digital Vietnam, an independent digital media agency, according to an announcement.
Post-acquisition, Ambient Digital Vietnam will be rebranded as iProspect Vietnam.
The acquisition combines Ambient Digital Vietnam’s adtech platforms, digital creative production and social management with iProspect’s global performance and search capabilities.
Validus Capital applying for digital banking licence in Singapore [press release]
Singapore’s small and medium-sized enterprises (SMEs) financing platform Validus Capital has announced that it is applying for a digital banking licence with the Monetary Authority of Singapore (MAS) to help meet the unmet financing needs of SMEs.
This follows MAS’ recent announcement to offer five digital banking licences.
As part of the application, Validus is looking to collaborate with strategic partners who share the same synergy in creating strong governance, and complements its data and technology strengths in SME financing. With the licence, Validus intends to expand its product offering beyond lending, including deposits, payments, remittances and forex.
KFH Malaysia collaborates with MoneyMatch on cross-border payments [DigitalNewsAsia]
Fintech startup MoneyMatch and Kuwait Finance House (Malaysia) on has announced a strategic collaboration to provide cross-border payments for its customers.
The collaboration, the first of its kind between a foreign Islamic bank and a local fintech startup, enables the bank to deliver cutting-edge, Syariah-based solutions to its customers. This partnership marks MoneyMatch’s maiden entry to provide enterprise solutions via its newest product BanKFH Malaysia collaborates with MoneyMatch on cross border paymentskFX, and ultimately to improve the cross-border payments experience for consumers regardless of platform.
MoneyMatch CEO Adrian Yap said: “We are excited to have KFH Malaysia onboard as our first Bank FX customer. We at MoneyMatch strongly believe that everyone should have access to the best exchange rates regardless of platform.”