A Malaysian milestone

• 500-backed Malaysian fintech startup Curlec announced that a majority stake of its business has been acquired by RazorPay, touted to be India’s leading payments and banking platform for businesses.
• According to the article, this move is part of RazorPay’s first international expansion into Southeast Asia. The company plans to unveil new channels for global business expansion for online businesses based in India and Malaysia.
• Curlec develops innovative technology solutions that complement existing payments infrastructure and empowers businesses of all sizes to collect recurring payments and take control of their cash flows. It claims that its annual revenue has been growing at nearly 5X since 2018.
• The startup currently works with hundreds of businesses across Malaysia with notable names including insurance company AXA, Southeast Asian SME digital financing platform Funding Societies, and Axiata Digital.
• Read the full story here.

Making trustworthy transactions

• 500-backed payments network EMQ has further streamlined cross-border payments into China, enabling its enterprise customers to settle transactions directly in RMB and USD.
• This enhancement includes same-day settlement across its payout network reaching over 150 banks in China. This enables EMQ’s customers to send payments into the country with increased certainty, efficiency, and transparency.
• Steven Liu, Global Head of Networks and Expansion, EMQ said, “China continues to be a significant growth market for our enterprise customers, and EMQ’s payment network plays an important role in supporting their international trade requirements, ensuring efficient and timely cross-border payments.”
• “Our enhanced B2B solution will help businesses reach more customers and empower them to make seamless multi-currency payments globally,” he added.
• Read the full statement here.

Bringing Indonesian brands to global customers

• Co-founder and CEO of 500-backed Una Brands, Kiren Tanna, spoke to DailySocial TV about the startup’s plans in Indonesia.
• Launched in 2020, Una Brands is an e-commerce aggregator startup. It builds a portfolio of brands via acquisitions and helps these brands achieve their full potential and expand internationally.
• Kiren revealed that the startup has acquired 22 brands so far across Singapore, Malaysia, Australia, and the United States. It focuses on several categories including home and living, personal care, as well as health and beauty, and is currently exploring opportunities with fashion brands.
• According to Kiren, Una Brands is the first company to offer 100% acquisition in Indonesia.
• He added that the startup has set aside US$35 million to acquire more than 15 brands in the country.
• Watch the full interview here.