Mitsubishi UFJ Financial provided $200m for Akulaku while various Chinese corporates participated in Freetech’s $100m series B round.

online payment

M&A

Mitsubishi UFJ Bank has agreed to pay ¥20bn ($150m) to acquire a 70% stake in Kanmu, the Japan-based online payment system provider backed by another financial services firm Seven Bank, marketing group Freakout Holdings and media company Adways, Nikkei has reported. The acquisition is set to close in early 2023 and will value the company at more than $190m. It had raised a total of almost $42m as of its last funding round, in 2020.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
Akulaku Digital finance services provider Financial Indonesia N/A 200 26/12/2022 Mitsubishi UFJ Financial Group
Freetech Advanced driver-assistance system developer Transport China B 100 28/11/2022 BAIC Group (BAIC Group Industrial Investment), TCL Industry Holding Corporation, Shaanxi Automobile Group, Sun Life Everbright Life Insurance, Tongxiang Chemical Corporation, Aopeng Medical (Aopeng Investment); Chaos Investment (lead), Hengxu Capital
Exyn AI and robotics technology developer Industrial US B 35 23/12/2022 Reliance (Reliance Strategic Business Ventures) (lead)
Hyphen Group Digital financial services group Financial  China (Hong Kong) N/A 22 23/12/2022 PCCW…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.

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