Chinaccelerator Daily Digest 2019/9/03

Overseas:

1. Fintech startup Revolut ramps up customer support with plans to hire 400 people in Porto

2. Spotawheel, online used car dealership platform active in Poland and Greece, picks up €5M for its online used car dealership

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China:

1. Shanghai-based Xianghe Capital 襄禾资本 completed US$425M fundraising

2. HSBC processes first blockchain letter of credit using Chinese yuan

3. NetEase 网易 formally launched 100M RMB public welfare education project supporting schools to implement online classes

4. Meituan 美团 testing new credit payment product, called 买单, which is modelled on Ant Financial’s Ant Credit Pay 花呗 

5. China’s largest gay dating App Blued reportedly eyes US IPO

6. ZAO face-swap app goes viral, sparks privacy concerns in China

7. Autocloudpro 车通运, intelligent automobile accessories provider, completed 7-digit US$ in Series C+

8. Incubator for comics IP Sanfufun 三福互娱 raised 30M RMB in in Series A+

Cross-Border:

1. India’s 26% FDI cap in digital media likely to hit valuations, fundraising

2. Indian OYO acquires Copenhagen-based data science company Danamica

3. BlueOcean Pay, cross-border payment solutions provider for Chinese outbound tourist, announced strategic partnership with Chinese SaaS vendor Youzan 有赞

4. California-based autonomous vehicle company AutoX to launch 100 robotaxis in Shanghai by year-end, challenging Didi

5. Tencent-backed live-streaming platform Huya 虎牙 to invest in Swedish firm MTG’s e-sports unit

6. Singaporean social network for doctors Docquity aims to raise up to $35m Series C to crack North Asia

7. Thailand’s Beacon VC joins $32.5m Series A funding round of Singaporean fintech startup Aspire

Emerging Market:

1. Endeavor Malaysia launches ScaleUp Endeavor for startup-phase companies

2. Gojek partners with DOOgether to launch GoFitness, providing access to healthier lifestyle

3. Indian logistic aggregator startup ElasticRun in talks to raise US$55 million

4. Indonesian beauty platform Sociolla bags US$40 million Series D

5. Indonesian startup Eden Farm closes $1.7m seed round led by Global Founders Capital

6. Singaporean esport company Team Flash raises US$1.5M to help esports athletes pursue a professional gaming career

Image Credits: Reuters