Bangladeshi startup Pathao has raised $12 million in its pre-Series B funding round while Singapore’s GIC has sold a Hilton hotel property in Japan.
Bangladesh’s Pathao raises $12m, shifts to fintech
Bangladeshi consumer technology startup Pathao is shifting towards fintech after it raised $12 million in its pre-Series B funding round, according to an announcement.
The investment, which brings the company’s total capital raised to more than $50 million, was anchored by MENA-based VentureSouq and backed by Anchorless Bangladesh, Osiris Group, South Asia Tech, Openspace Ventures, and others.
Pathao, launched in 2015, now plans serve its customers with fintech offerings, in addition to logistics, ride-sharing, and food delivery. The startup has recently introduced digital wallet Pathao Pay and BNPL platform Pay Later.
The fintech offerings target over 5 million young professionals and 500,000 tech-enabled small businesses in Bangladesh, according to the announcement.
“Just as it has radically transformed urban transportation, logistics and the gig economy, our efforts in fintech will reshape the financial landscape in Bangladesh,” said Fahim Ahmed, managing director and CEO of Pathao.
Singapore’s GIC sells Hilton hotel property in Japan
Singapore sovereign wealth fund GIC has sold Hilton Fukuoka Sea Hawk to Mizuho Leasing Company, marking the largest hotel deal by room count in Asia this year.
The property has 1,052 guest rooms and is situated next to the Mizuho PayPay Dome, a baseball stadium. Financial details of the transaction were not disclosed.
Earlier reports said GIC had sought as much as $617 million for the property when it began marketing the asset last year.
The 35-storey hotel is part of a 169,157 square metre entertainment complex in the city’s Momochi coast area that also houses the Hawks Town Mall and the Mizuho PayPay Dome stadium.
Last month, GIC announced that it acquired a logistics facility in Yokohama City developed by Japanese real estate developer Daiwa House Industry.
