Raising money during a pandemic is no easy feat. Especially a startup landing a strategic deal from a billion-dollar valued company. So when Malaysian offline-to-online (O2O) payments and rewards platform Fave closed an undisclosed funding undisclosed funding Pine Labs Fave announces strategic partnership and investment from Pine Labs to accelerate Southeast Asia's cashless future Read more round from India’s payments unicorn Pine Labs in July 2020, people sat up and took notice.

It wasn’t long before the initial optimism was tempered.

AUTHOR

Ka Kay Lum

Based in Kuala Lumpur, Ka Kay covers investment activities, aka following the money, across Southeast Asia and in-depth stories on the often-overlooked Malaysian startup ecosystem. She was previously a regional writer for Nikkei-owned DealStreetAsia.

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