AEI Legal advised tech group International Biometrics on a deal with SGX-listed Yinda Infocomm that values the International Biometrics group at S$69 million. The biometrics sector has seen accelerated growth trajectories recently, in part due to the COVID-19 pandemic.

Yinda Infocomm’s acquisition of a 51% stake was for a consideration mix of 143,333,000 ordinary Yinda shares issued at S$0.15 per share, and S$13.5 million cash, paid in 2 tranches.

Read more on NextInsight:
YINDA INFOCOMM: Signs deals to enter biometrics industry (nextinsight.net)

AEI lawyers Andrea Chee, Zhitian Law & Yuho Bong advised International Biometrics.

AEI Legal advised fintech startup GajiGesa on its seed funding round, raising US$2.5 million from a number of investors including noted US-based investor Defy.vc. Other investors included Next Billion Ventures, GK Plug and Play, Alto Partners Multi-Family Office, Kanmo Group, and strategic angel investors.

GajiGesa aims to assist workers by providing Earned Wage Access, to alleviate financial stress, and make it easier for workers to manage income.

Read more on Techcrunch:
GajiGesa, a fintech startup serving underbanked Indonesian workers, raises $2.5 million seed round – TechCrunch

AEI lawyers Andrea Chee & Zhitian Law advised GajiGesa.

AEI Legal advised edtech Cialfo on the extension of its Series A round to US$15 million.

The round was co-led by SIG and Vulcan Capital, and included other noted investors such as January Capital, Bisk Ventures, DLF Venture, Alto Partners Multi-Family Office, and Immobillari as well as angel investors Patrick Walujo and Teik Ngan Loy.

Cialfo connects higher education institutions & students across the globe by providing AI-powered college search & application management tools and intends to expand its reach in India, China, and Southeast Asia.

Read more on Entrepreneur:
https://www.entrepreneur.com/article/364672

AEI lawyers Andrea Chee & Zhitian Law advised Cialfo.

Insider, a Turkish marketing platform headquartered in Singapore and operating in 23 countries, closed a recent funding round that allegedly valued Insider at over US$200 million.

The Series C involved prominent investors Riverwood Capital, Sequoia Cpaital, Wamda Capital, and Endeavor Catalyst, amongst others.

AEI lawyers Andrea Chee and Zhitian Law were Singapore counsel to Riverwood Capital.

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.