Indonesia’s Kopi Kenangan raises $8M seed funding from Alpha JWC Ventures

On Thursday, Indonesian coffee chain Kopi Kenangan announced its recent seed funding of US$8 million from Indonesia-focused venture capital firm Alpha JWC Ventures. Kopi Kenangan is Indonesia’s fastest-growing grab-and-go coffee chain. Within a year, it already opened 16 stores in Greater Jakarta area, and the number will keep on rising as the company plans to operate a total of 30
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Cambodia’s Meal Temple raises 6-figure funding

Cambodia-based startup Meal Temple Group, which operates food delivery platform MealTemple.com and grocery delivery platform GroceryDelivery.asia., has raised an undisclosed six-figure round private European and Australian investors. The company was established 5 years ago, at the nascent stage of the Cambodian startup ecosystem. The company plans to use the newly-raised funding to grow its local operations and extend its logistics services
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IFC launches $1 billion masala bonds

A World Bank Group member, International Finance Corporation launched $1 billion Masala Bonds to strengthen India investments. The 1st Tranche of $100 million was opened last night on the London stock Exchange. It was sold to different sections of investors, including asset managers, banks and a pension fund in the US and Europe. Masala Bonds are used to raise funds overseas
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First batch of Hong Kong AI Lab accelerator to be launched by Alibaba and SenseTime

As part of the Hong Kong government’s effort to boost innovation in areas including AI, biotech and fintech, e-commerce giant Ali Baba and Hong Kong’s first unicorn SenseTime established The Hong Kong AI Lab in May. It has now picked seven startups that will receive funding under its accelerator program. The AI lab will provide each of the selected startups
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BASIS organizes NASA Space Apps Challenge 2018

With the assistance of BASIS Student’s Forum, BASIS has brought you NASA Space Apps Challenge 2018. From 9 cities (Dhaka, Sylhet, Chittagong, Barisal, Rangpur, Mymensingh, Khulna, Barisal and Comilla), over 2000 initiatives submitted entries and the best 40 initiatives were chosen to attend the 36-hour Hack-a-thon on 19th-20th October,2018. Over 500000 students were associated with the event virtually and around
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micro merchant 3

The Bangladeshi micro-merchant retail scene is a billion dollar sector

In Bangladesh, more than $18.42 billion a year is transacted by 2 million people through micro-merchant retail trade, according to a United Nations study. The United Nations Capital Development Fund (UNCDF), the UN's capital investment agency for the world's 48 least developed countries, and Dnet, a social enterprise based in Dhaka, published the study report at a programme at the
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Fastwork raises US$4.8M led by Gobi Partners

Online freelancing platform, Fastwork, with operations in Thailand and Indonesia, announced today it has secured US$4.8 million in Series A financing round led by regional venture capital firm Gobi Partners. Vickers Venture Partners, LINE Ventures, and Partech Partners also joined the round, which brings Fastwork’s total amount raised to date to US$5.5 million.
“SMEs are growing at an unprecedented pace in
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Flexible Pass

Myanmar’s fitness platform Flexible Pass raises six-digit dollar round

Burmese health and fitness platform, Flexible Pass, has successfully raised a round worth six-digit dollar round by Nest Tech, a VC firm that actively backs startups in Myanmar, Vietnam, and Singapore. The round was joined by Seed Myanmar and Yangong Capital Partners (YCP), which is the investment arm of the financial advisory firm, Trust Venture Partners (TVP). Flexible Pass will use
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MFS providers highlight unfair advantage of Post Office’s Nagad

Mobile financial services (MFS) in Bangladesh have highlighted the unfair advantage that the Post Office’s mobile banking service, Nagad, poses. They also expressed their worry about the potential misuse of Nagad for money laundering and terrorist financing. Nagad allows customers to make a single transaction of BDT 50,000 and maximum BDT 250,000 in 10 transactions per day and withdraw maximum BDT
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Bangladesh Bank allows holding foreign loan collaterals without approval

In an effort to streamline international finance, the Bangladesh Bank has made provision for local commercial banks to hold collaterals on behalf of the on-resident lenders against external loans, availed by the state entities, without prior approval from Bangladesh Bank (BB).
"We've relaxed regulations allowing the authorised dealers (AD) banks to hold collaterals against external loans without prior approval from the
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