SINGAPORE - Ride-hailing firms have taken home the lion's share of investor dollars in South-east Asia's Internet economy, amid intense competition among tech firms to become the region's first"super app".
Ride-hailing firms took home the largest sum of around US$14 billion, with its two leading players Grab and Gojek staging mega financing rounds to build up food delivery and financial services, said the report. It added that both have also acquired new ventures and started acting as investors in the ecosystem.
For 'aspiring unicorns' to graduate, South-east Asia needs more late-stage financing through investments that range from US$25 million to US$100 million and above, the report added. The support for start-ups"signals the strong potential the region holds for investors in the long term", said the report.
Source: Financial Digest (financialdigest.net)
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