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Razorpay is targeting group-wide profitability as it prepares for a potential IPO within three years, with a reported net income of US$4 million in FY24. While its core payments business is profitable, losses arise from neo-banking and lending. The company has expanded to Singapore and aims to enter Thailand, Vietnam, the Philippines, and the Middle East, targeting US$5 billion in payment volume from these markets.
Razorpay is targeting group-wide profitability as it prepares for a potential IPO within three years, with a reported net income of US$4 million in FY24. While its core payments business is profitable, losses arise from neo-banking and lending. The company has expanded to Singapore and aims to enter Thailand, Vietnam, the Philippines, and the Middle East, targeting US$5 billion in payment volume from these markets.
VinFast has partnered with Bank Negara Indonesia (BNI) to boost electric vehicle adoption in Indonesia. The memorandum of understanding, signed during the Vietnam-Indonesia High-Level Business Dialogue, includes financial solutions from BNI and special pricing for BNI employees from VinFast. Both organizations will also launch public awareness campaigns to promote EVs as VinFast expands its presence in the Indonesian market.
VinFast has partnered with Bank Negara Indonesia (BNI) to boost electric vehicle adoption in Indonesia. The memorandum of understanding, signed during the Vietnam-Indonesia High-Level Business Dialogue, includes financial solutions from BNI and special pricing for BNI employees from VinFast. Both organizations will also launch public awareness campaigns to promote EVs as VinFast expands its presence in the Indonesian market.
Peru aims to attract over $500 million for digital infrastructure investments in the next two years, focusing on 5G deployment with partnerships from Chinese companies like ZTE and Huawei. The government supports telecom development through favorable regulations and public-private partnerships, targeting 60% urban 5G coverage by 2025. Internet access has surged from under 20% in 2012 to over 76% in 2023, reflecting significant progress in bridging the digital divide.
TVS Motor has acquired Singapore-based e-scooter startup Ion Mobility, as confirmed by CEO James Chan. The deal includes all assets and intellectual property, with Chan set to join TVS as senior vice president overseeing the ASEAN market starting April 1, 2025. TVS plans to relaunch Ion's flagship electric scooter, the M1-S, under its brand, aiming to enhance electric mobility solutions in the region.
Airwallex has successfully acquired CTIN Pay, a Vietnam-based payment platform. This strategic move enhances Airwallex's presence in the Southeast Asian market, positioning the company for further growth and innovation in digital payment solutions.
Airwallex has acquired Vietnam-based payment services provider CTIN Pay to enhance its licensing presence in key Asia-Pacific markets and support international firms entering Vietnam. The company has appointed Ershad Ahamed as head of Southeast Asia to drive regional growth, following its acquisition of MexPago in Mexico. Founded in 2015, Airwallex reports annual revenues exceeding US$600 million and a global transaction volume of US$130 billion.
Darwinbox, a leading HR technology platform, has secured $140 million in funding co-led by Partners Group and KKR, with participation from Gravity Holdings. Founded in 2015, the company has rapidly expanded internationally, achieving significant revenue growth, particularly in North America, and was recently recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites. With over 3 million employees from major brands using its platform, Darwinbox aims to enhance its technology leadership and accelerate global expansion.
The Trump administration is considering stricter AI chip export restrictions to China, building on previous measures. Despite these efforts, demand for Nvidia's AI chips remains high, leading to a burgeoning gray market facilitated by intermediaries in Vietnam, Malaysia, and Taiwan. Chinese firms continue to rely on these channels or alternative products to fulfill their AI training needs, as high-end chips are essential for their operations.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Razorpay aims for profitability and expands operations to Singapore
08:12 12.03.2025
Razorpay aims for profitability and expands operations to Singapore
08:12 12.03.2025
VinFast and BNI partner to boost electric vehicle adoption in Indonesia
16:21 11.03.2025
VinFast and BNI partner to boost electric vehicle adoption in Indonesia
16:21 11.03.2025
Peru accelerates digital infrastructure with Chinese partnerships for 5G rollout
03:52 09.03.2025
TVS Motor acquires Ion Mobility to enhance electric mobility in ASEAN
14:15 07.03.2025
Airwallex expands footprint with acquisition of CTIN Pay in Vietnam
15:34 06.03.2025
Airwallex expands in Asia Pacific with acquisition of CTIN Pay in Vietnam
15:14 06.03.2025
darwinbox secures 140 million funding to enhance global expansion and innovation
02:12 06.03.2025
us considers stricter ai chip export controls amid china's gray market growth
04:00 05.03.2025
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