Malaysia’s NEXEA announces investments in five startups – Press Release
Malaysia-based startup investment firm NEXEA announced that it has invested a total of MYR250,000 (US$60,000) into five early stage startups from the NEXEA Startup Accelerator and Startup-Corporate Pilot programme, that has just ended this month.
The startups are: HAUZ (a workforce management platform), Lokein (an online vintage marketplace), Krenovator (an IoT learning platform), Prepay (an escrow service for buyer and seller), and Reemedy (a multi-vendor medical supply marketplace).
Each of the startups received MYR50,000 (US$12,000) in funding.
ByteDance to launch music streaming platform – Financial Times
Chinese internet giant ByteDance is set to launch its own music streaming platform as part of its effort to compete with the likes of Spotify and Apple Music, Financial Times wrote.
Citing people familiar with the matter, the report said that ByteDance is currently in talks with leading record companies Universal Music, Sony Music, and Warner Music for global licensing deals to include their songs on the new platform.
The platform is set to be launch in India, Indonesia, and Brazil “as soon as next month” before entering the US market.
Also Read: Here is the e27 Malaysia Fintech Ecosystem Report 2019
Greater Southeast Asian game industry to reach US$8B by 2023 – Hybrid.id
The gaming industry in Greater Southeast Asia region, which included Southeast Asia and Taiwan, is expected to grow from US$5 billion in 2019 to US$8 billion in 2023, Hybrid.id reported.
Citing a report by Niko Partners, the article stated that the growth of the industry is widely affected by the increase in the number of gamers in the region. This number included both PC and mobile gamers.
The number of mobile gamers is expected to rise from 227 million in 2019 to 290.2 million in 2023, with PC gamers growing from 154.3 million this year to 186.3 million in 2023.
The rise of e-sports also contributed positively to the growth of the game industry in Asia, as most gamers are also e-sports players.
Chinese, APAC companies dominate global fintech companies list – Press Release
Chinese and Asia Pacific companies dominated the top 10 list of global fintech companies in the 2019 Fintech100 report from KPMG International’s global fintech practice and fintech investment firm H2 Ventures.
The companies are Ant Financial (China), Grab (Singapore), JD Digits (China), GoJek (Indonesia), Paytm (India), Du Xiaoman Financial (China), Compass (United States), Ola (India), Opendoor (United States), and Oaknorth (United Kingdom).
Chris Wang, Partner, Head of Fintech, KPMG China, said, “As fintech development continues to go strong in China, we are seeing some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance, and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors.”
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Want to learn more about fintech in Malaysia? Get the e27 Malaysia Fintech Ecosystem Report 2019 here.
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