Kenanga Group acquires stake in Malaysia’s Merchantrade

The story: Malaysia-based financial group Kenanga Group announced that it has acquired 4.99 per cent equity interest in Merchatrade, a leading e-money player in the country. The acquisition followed the companies’ recent collaboration to introduce stockbroker e-wallet service Kenanga Money.

What is next for Merchantrade? In a press statement, it is said that Merchantrade will have a combined annual remittance turnover of more than MYR11 billion (US$2.6 billion) and a network of over 1,700 touchpoints following the acquisition. This will possibly leads it to become the largest remittance player in the country.

The company has recently acquired an additional stake in Singapore-based mobile remittance service KLIQ as well as a 100 per cent acquisition of Valyou Sdn Bhd from the Telenor Group.

Eight Roads Ventures announces two Venture Partner appointments

The story: Venture capital fund Eight Roads Ventures India & Southeast Asia today announced the appointment of Stephanie Robotham and James Ireson as Venture Partners.

The new partners: Robotham is currently based in the US as the CMO of Gainsight. She has more than 25 years of experience building impactful cross-border go-to-market teams with past experiences working at Salesforce, Cordial Inc., Iterable, and Optimizely. In her new position, Robotham will lend her marketing expertise and growth mindset to help the Eight Roads’ SaaS companies in India and Southeast Asia strengthen their market position in the US and Europe markets.

Also Read: Kenanga Investors announces the return of unicorn fund, collaborates with Ericsenz Capital

Ireson joined Eight Roads in 2019 as a Venture Partner from Zendesk where he was responsible for the launch and leadership of the EMEA Partner Sales organisation. Based in London, he has been working closely with the Eight Roads Ventures Europe team to support and advise the portfolio with their sales-focused go-to-market strategies.

About Eight Roads Ventures: This year, Eight Roads Ventures had invested in several companies including MoEngage, Fareye, and Lead IQ and participating in existing portfolio company Whatfix’s Series C funding round.

igloohome introduces parent company igloocompany

The story: Singapore-based smart access company igloohome today announced the launch of its new parent company igloocompany. The launch was meant to anticipate potential business growth in the enterprise segment such as data centres, property development, and telcos.

Why? In his statement, igloohome CEO and Co-Founder Anthony Chow said that the move allows the company to venture into new lines of businesses to deliver on the promise of a smarter and more secure world.

What is next? The company’s consumer-facing brand igloohome will continue to be marketed under igloocompany. At the same time, iglooworks, its enterprise-focused line of smart access management solutions launched in 2019, will be grown by igloocompany leveraging on igloohome’s established distribution network across 100 countries.

Image Credit: Scott Graham on Unsplash

The post In Brief: Kenanga Group acquires stake in Malaysia’s Merchantrade appeared first on e27.



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