Tech Venture Capital Firm Receives $5 Mln Investment

Myanmar’s larg­est online prop­erty portal, iMy­anmarHouse.com has announced an investment of $5 million into a venture capital (VC) fund for local tech startups, U Nay Min Thu, Managing Director of iMyanmarHouse.com, told Myanmar Business Today. “Myanmar’s tech startup community is far smaller and less developed than neighboring countries. The fund will encourage en­trepreneurs by rewarding […]

Mastercard to keep high growth rate in Myanmar

Ravinder Aurora, executive director for global public policy and community relations at Mastercard, said at a press conference yesterday that the company enjoyed double digit growth in terms of the number of card users and transaction value by using the cards every year. “Currently, I believe there are roughly about 2 million cards within the […]

No employees, no office, and a handful of cash: how a Burmese entrepreneur’s dream came true

For a country where living standards scrape the bottom of the barrel, it’s hard to imagine that car prices in Myanmar were sky high a decade ago. Thanks to import restrictions imposed by the previous military regime in the early 2000s, a second-hand Toyota van used to cost about K100 million (US$97,000) in Myanmar. According […]

Revo Tech Wants To Be A Leader In Myanmar’s Growing Startup Ecosystem

After years of dealing with slow and expensive broadband connections, many Myanmar Internet users finally got access to affordable 3G thanks to recent service rollouts by telecoms Telenor and Ooredoo. A Yangon-based mobile app company called Revo Tech hopes to take advantage of the country’s speedier Internet by becoming a “first mover” in its startup […]