Ma wrote in his memo to staff that Alibaba has “hacked away at the big-company disease,” the South China Morning Post reported.
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The move comes about a month after the Reserve Bank of India ordered Paytm’s affiliate bank to shut down operations.
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Bain Capital first invested US$823.2 million into Axis Bank as part of a larger raise in November 2017.
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The London-headquartered payments network recently partnered with Philippines-based fintech firm Maya to offer international remittance services.
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The move comes almost two years after the cryptocurrency exchange acquired local platform OK-Bit.
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The Philippines-based BNPL firm is now gearing up for a series C funding round.
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Carousell hopes to leverage LuxLexicon’s expertise in the luxury bag market, particularly in resale and consignment
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The company’s gross merchandise value, which reflects the total sales on its platform, reached around US$45 billion in 2023.
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The investment, whose amount is undisclosed, comes a few months after the state-owned digital payments firm hit EBITDA profitability.
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The partnership follows Soft Space’s US$31.5 million series B1 round in April last year.
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