Burmese digital commerce startup Get acquires local fintech Daung Capital
by DealStreetAsia 2020-02-04
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source: dealstreetasia

Myanmar-based digital commerce platform Get, also known as Get All Myanmar, said it is acquiring local fintech firm Daung Capital to offer a unified solution to micro-entrepreneurs in the country.

Financial details were not disclosed. The deal covers all of Daung’s assets, including employees and business contracts, Get said in an announcement.

The merged entity will operate under the Get brand.

Daung Capital provides credit solutions to Myanmar’s working class and small businesses. It provides education loans, rent-to-own agreements and cash advance programmes for businesses. The startup raised an undisclosed amount in its Series A round last year from investors including Myanmar-based BOD Tech Ventures and Singapore early-stage VC firm Majuven.