AEI Legal advised the Xfers Group as part of the US$53 million Series B round for Payfazz Financial Group. Other investors included B Capital, Insignia Venture Partners, Tiger Global, Y Combinator, and Ace & Company.

Payfazz offers a portfolio of mobile services that make it easier for Indonesians, even in rural areas without banks, to handle routine financial tasks. Payfazz has reported 10 million monthly active users, and has been named one of Indonesia's top 10 fintechs.

Read more on Techcrunch:
https://techcrunch.com/2020/07/06/payfazz-gets-53-million-to-give-more-indonesians-access-to-financial-services

AEI lawyers Andrea Chee & Yuho Bong advised the Xfers Group.

AEI Legal advised SGX Mainboard-listed Teckwah Industrial Corporation Limited, a leading provider of integrated supply chain management solutions, on its acquisition of a majority stake in regional digital graphics print provider, Profoto Digital Services Pte Ltd.

The deal featured, inter alia, a condition subsequent for the transfer of an 80% stake in Profoto Malaysia Sdn Bhd to PDS, put and call options, & a profit guarantee mechanism.

The acquisition of Profoto presents an opportunity for Teckwah to extend its supply chain capabilities and leverage Profoto’s network of contacts in the Asia Pacific region.

AEI Legal extends its heartiest congratulations to the Teckwah deal team & wishes the Teckwah Group every success ahead.

Basis Technologies Pte Ltd, an AI-focused start-up founded by the former head of data science at Twitter Asia Pacific, the former head of data science at Uber and Dropbox, and the former director of data science and AI at Singapore’s GovTech, completed its Series A financing with Singapore’s sovereign wealth fund Temasek, and Sequoia India.

This was one of the very first deals to be negotiated and completed utilizing the Venture Capital Investment Model Agreements (VIMA) which were released by the Singapore Venture Capital and Private Equity Association (SVCA) in October 2018.

AEI lawyers Andrea Chee & Cheryl Yang advised Basis Technologies.