Touch ‘n Go Group announced that TNG Digital Sdn Bhd, the owner and operator of Malaysia’s largest eWallet company Touch ‘n Go eWallet, has raised $168.39 million from its latest round of equity funding. This funding round was led by a new investment in TNG Digital by Lazada Group and a follow-on investment by TNG Digital’s current shareholder and parent company Touch ‘n Go Sdn. Bhd.
Carousell Group has acquired control of Laku6, an AI-first end-to-end electronics recommerce platform in Indonesia, as part of its vision to make secondhand the first choice for users. Temasek unit Heliconia Capital will be supporting Carousell Group in its acquisition of Laku6 and in accelerating circularity in secondhand electronics. The deal follows the initial investment Heliconia made into Carousell, less than a year ago in October 2021.
Our recent Industry Update found a slowdown in CDP vendor funding, but Cordial is bucking the trend. They just announced a $50 million Series C, bringing total funding to $73.6 million. We classify Cordial as a Delivery CDP, since their system sends messages. Channels include email, SMS, mobile apps, and websites.
The IAB is forecasting that digital video will capture some 60% of total TV/video ad spend this year, a growth of 100% on its share five years ago. The new 2025 Digital Video Ad Spend & Strategy Report also notes that CTV saw a 16% increase YoY in ad spend growth. CTV and social video will be the top “must-buys” for advertisers in 2025.