Lazada Group and Touch ‘n Go provided $168m for online payment platform developer TNG Digital while Arab Bank Accelerator was among the investors in Cartona’s $12m series A round.
Funds
Beacon VC, the corporate venture capital subsidiary of Thailand-based financial services firm Kasikornbank (Kbank), intends to raise between $50m and $100m in additional capital from its parent firm, DealStreetAsia reported today. The unit’s managing director, Thanapong Na Ranong, said the team plans to deploy the remaining capital by the end of this year.
Japan-based insurance firm T&D Holdings has teamed up with Spiral Innovation Partners, the open innovation subsidiary of venture capital firm Spiral Capital, to form a ¥5bn ($36.6m) corporate venturing vehicle dubbed T&D Innovation Fund that will back early-stage insurance and healthcare technology developers. Spiral Innovation Partners already helps run another CVC unit, Logistics Innovation Fund, which is part of logistics firm Seino Holdings.
M&A
Freelancer and small business-focused payment tool provider Qonto has agreed to acquire Penta, a Germany-based digital business banking platform backed by investors including financial services firm ABN Amro,…
