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SEA Digest: GrabPay in pact with Stripe; SiCepat partners DMMX May 27, 2021 GrabPay has partnered with digital payments giant Stripe while Indonesian logistics company SiCepat Ekspres has announced a collaboration with PT Digital Mediatama Maxima Tbk. Singapore’s GrabPay announces partnership with Stripe GrabPay, the e-wallet service of Singapore-based Grab, has announced a partnership with digital payments giant Stripe. “With e-commerce’s increasing popularity here, we believe that Stripe’s expertise and technology will help us deliver an enhanced payments experience for Southeast Asians. This partnership also builds on our ongoing efforts to help businesses grow online in an increasingly digitally reliant world,” said Chris Yeo, Managing Director and Head of GrabPay, Grab Financial Group. ....
March 5, 2021 Indonesian last-mile delivery startup SiCepat Ekspres has closed a Series B funding round of $170 million backed by a host of investors including Falcon House Partners, Pavilion Capital and MDI Ventures. The deal confirms DealStreetAsia’s report published in January. Other new investors in the round include German development financial institution DEG, Trihill Capital and Daiwa Securities, while existing backers Kejora Capital and Indies Capital also topped up, Sicepat said in a release. “This financing round is designed to further fortify SiCepat’s position as the leading end-to-end logistics service provider in the Indonesian market and potentially to explore expansion to other markets in Southeast Asia,” said The Kim Hai, founder and CEO of Sicepat’s parent company Onstar Express. ....
Indonesian logistics startup SiCepat raises $170 million Series B SiCepat, an end-to-end logistics startup in Indonesia, announced today it has raised a $170 million Series B funding round. Founded in 2014 to provide last-mile deliveries for small merchants, the company has since expanded to serve large e-commerce platforms, too. Its services now also cover warehousing and fulfillment, middle-mile logistics and online distribution. Investors in SiCepat’s Series B include Falcon House Partners, Kejora Capital, DEG (the German Development Finance Institution), Telkom Indonesia’s investment arm MDI Ventures, Indies Capital, Temasek Holdings subsidiary Pavilion Capital, Trihill Capital, and Daiwa Securities. The company’s last funding announcement was a $50 million Series A in April 2019. ....