Analysis
It seeks to tap rising demand for international transactions with offerings such as overseas investment and travel payments.
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SBI-backed Cashfree Payments to ramp up cross-border business
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Meituan's new AI model trained on domestic chips
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Indonesia stock exchange eyes $1.7b market cap in four years
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SG-based merchant operating system Qashier bags $6m Series A+ led by Cocoon Capital
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Greater Bay Area mints two unicorns as embodied AI boom continues
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Meituan is a late entrant to China’s crowded and well-funded AI sector.
IPOs & Markets
The target is 87.5% higher than last year’s figure of around 16,000 trillion rupiah.
Venture Capital
The capital will support its regional expansion and product development.
Unicorns
China’s Silicon Valley is home to 80 Chinese unicorns—over a fifth of the country’s total.
Indonesia
The court also imposed a 1b rupiah fine.
India
Existing investors Cactus Venture Partners and India Alternatives also joined the round.
Malaysia
The deal also provides an exit to AHAM Capital’s major shareholder CVC Capital Partners.
BlaBlaCar is making its intercity carpooling platform available in Indonesia, Thailand, Malaysia, and Vietnam.
India remains one of SMBC Asia Rising Fund’s highest-conviction markets in Asia.
