Myanmar-focused financing platform Daung Capital has announced the final close of its undisclosed Series A investment round this week. Majuven, an early- and growth-stage venture capital firm from Singapore is the new investor in the company. The deal marks Majuven’s first investment in Myanmar. With the Series A round now closed, Daung Capital’s post-money valuation has reached SGD 16.5 million (USD 11.9 million). Daung Capital allows Myanmar users to purchase motor vehicles and electronics goods through a rent-to-own agreement. People can rent a product for a specific time with an option of subsequently purchasing it. The platform also provides corporate financing for Myanmar SMEs and cash advances for salaried workers. The startup claims it has financed about 2,900 motorbikes in the country and has got about 3,500 active borrowers.
Upcoming Events
- No events
- all events
Highlights
Terminals, ports, logistics, liner operations disrupted
German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar …Facebook, Instagram ban military and related pages with immediate effect
In a February 24th update to its February 11th statement, Facebook through its Director of …Luxury Japanese real-estate complex called out for funding military
Despite distancing itself from other major Western states imposing sanctions on military-linked individuals and entities, …
Myanmar in the Media
- Five more groups of Myanmar border-crossers caughtSource: Bangkok Post Recent StoriesMarch 28, 202414 hours ago
- Russia, Myanmar plan over 50 joint military activitiesSource: Bangkok Post Recent StoriesMarch 28, 202415 hours ago
- Myanmar Junta Chief Calls for Unity, Says Military Holding Power ‘Temporarily’Source: Voice of America East AsiaMarch 28, 202423 hours ago
- India ‘to build $3.7bn Myanmar border fence’Source: Bangkok Post Recent StoriesMarch 27, 20242 days ago
Thura NewsViews
Myanmar’s most widely read newsletter on the country’s politics, economy and businesses brought to you by Thura Swiss