Asia’s technology and business landscape is seeing strong momentum as companies increase investments in artificial intelligence, financial technology and digital commerce.
ByteDance has secured a major bank loan to support its expanding AI ambitions, while Saudi construction technology startup BRKZ has attracted fresh funding to scale its AI-powered procurement platform.
OpenAI is strengthening its sales operations in Asia-Pacific, with Singapore emerging as a key regional hub. Meanwhile, fintech company Tabby has raised fresh capital at a $6.5 billion valuation as it expands its financial services. JD.com and FundPark are also partnering to improve financing access for cross-border merchants.
ByteDance Secures $29.6 Billion Loan to Accelerate AI Expansion
ByteDance has secured a $29.6 billion syndicated bank loan as the TikTok owner increases investment in artificial intelligence and data-centre infrastructure. The financing is among the largest dollar-denominated loans in Asia this year, reflecting strong lender confidence in the company. The facility is expected to provide additional financial flexibility as ByteDance expands its AI capabilities.
- Nearly 30 banks participated in the three-year facility, which can be extended to five years.
- Chinese banks provided more than 60% of the financing, with international lenders also participating.
- ByteDance is expected to increase spending on AI infrastructure, computing capacity and data centres.
Saudi AI Construction Startup BRKZ Raises $31 Million
Saudi Arabia-based construction technology startup BRKZ has raised $31 million to expand its AI-powered building materials procurement platform. The funding includes $13 million in equity and an $18 million growth debt facility. BRKZ plans to use the new capital to strengthen its technology and expand across Saudi Arabia and the wider Gulf region.
- Wa’ed Ventures and 500 Global co-led the Series B funding round.
- The company is investing in AI-powered pricing, quotations, procurement and fulfilment capabilities.
- BRKZ works with more than 1,500 contractors and 150 factories across its platform.
OpenAI Expands Asia-Pacific Sales Operations From Singapore
OpenAI is expanding its commercial operations in Asia-Pacific as demand for enterprise AI solutions grows across the region. The company is strengthening its Singapore-based sales organisation to support enterprise adoption and build new business opportunities. The expansion highlights Singapore’s growing importance as OpenAI’s regional business hub.
- OpenAI is hiring for sales-development and other commercial positions in Singapore.
- The regional team will focus on converting AI product usage, pilots and developer engagement into enterprise opportunities.
- The company is also expanding its broader leadership and commercial presence across Asia-Pacific.
Tabby Raises $233 Million at $6.5 Billion Valuation
Saudi Arabia-based fintech Tabby has raised $233 million in a new funding round, pushing its valuation to $6.5 billion. The company is expanding beyond its original buy-now, pay-later offering into broader financial services. The latest investment comes as Tabby targets continued growth across Saudi Arabia and the UAE.
- Blue Pool Capital led the funding round, with HSG, Wellington Management and Arbor Ventures also participating.
- Tabby processes more than $18 billion in annualised transaction volume and has 25 million registered users.
- The fintech plans to use the new funding to expand its credit and money-management products.
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JD.com Partners With FundPark to Offer Merchant Financing
JD.com has partnered with Hong Kong-based fintech FundPark to provide financing solutions to merchants selling through JD Worldwide. The partnership aims to improve access to working capital for businesses involved in cross-border e-commerce. FundPark will become JD Worldwide’s first overseas financial-services partner in its import e-commerce ecosystem.
- Eligible merchants will be able to access financing through a digital process integrated into the JD ecosystem.
- The financing is designed to help merchants manage inventory purchases, seasonal demand and working-capital requirements.
- FundPark has provided more than $6 billion in financing since its establishment in 2016.
