Today In Payments Around The World: China’s SPH Health Commerce Lands $159.7 Million; Singapore May List SPACs In 2021
Summary
Huadong Industrial, Ample Harvest Finance, New Alliance Capital, Shanghai SITICO Asset Management and Sinocare were among the other investors. CEO Loh Boon Chye told Bloomberg in an interview that if the market is supportive, we hope to be able to do that sometime this year. The venture capital arm was rolled out in July and has invested in different South Korean firms, such as the lifestyle company Homes and the fashion tech upstart Ably Corporation. Grab is often referred to as a super app that provides a number of conveniences such as ridesharing, food delivery and financial services.Dingdong Maicai, the Chinese supermarket app, is reportedly mulling an initial public offering (IPO) in the U.S. to further growth in the fresh food delivery market. Sequoia Capital-backed Dingdong Maicai is working with advisors on the offering, which could reportedly bring in an estimated $300 million.