Deals of the Week: GIC gets busy; Warung Pintar gets Bizzy

THESE South-east Asian tech-funding deals made headlines in the past week:

Singapore sovereign wealth fund GIC will purchase a stake in Bank Jago, a publicly-listed Indonesian lender that is set to become the first fully digital bank in South-east Asia's largest economy, The Straits Times reported.

Warung Pintar, a startup which helps Indonesia's street vendors digitise, on Wednesday said it has acquired logistics startup Bizzy Digital for US$45 million.

The acquisition will enable the companies to explore "synergies" from opposite ends of the supply chain, in an attempt to digitise Indonesia's fragmented B2B (business-to-business) logistics market.

Fintech startup ErudiFi announced on Tuesday that it has raised US$5 million in a Series A funding round co-led by Singaporean venture firms Monk's Hill Ventures and Qualgro Partners.

The startup said it will use the funds to expand hiring, scale up its education-financing services and deepen existing footprints in Indonesia and the Philippines by establishing closer relationships with schools and students.