(Bloomberg) -- Sea Ltd. expects e-commerce revenue to double in 2021, sustaining its torrid pace of growth as Southeast Asia’s most valuable company counts on regional online shopping demand to persist after the pandemic.Revenue rose to $1.6 billion in the last three months of 2020 from $777.2 million a year earlier, Singapore-based Sea said Tuesday in a statement. Net loss widened to $523.6 million from $283.8 million.Sea, backed by Tencent Holdings Ltd., has emerged as a stock-market sensation since its initial public offering in New York in 2017, as investors bet the company can establish itself as a leader in e-commerce and gaming in Southeast Asia. Among companies valued at $100 billion or more, the stock is the No. 1 performer in Asia since the start of last year and only trails Tesla Inc. globally.It’s also trying to establish fintech as a third growth driver. Sea said Tuesday it’s acquired 100% of Composite Capital Management, a Hong Kong-licensed global investment management firm. With the acquisition, the company is establishing Sea Capital, a platform to manage its overall investments.Asia’s Best-Performing Stock Gets to Justify 400% SurgeKey InsightsThe pandemic is helping to spur demand at Sea’s e-commerce business Shopee, with fourth-quarter sales increasing 178% to $842.2 million. Sea forecast 2021 revenue at Shopee of $4.5 billion to $4.7 billion, up from $2.2 billion in 2020.Hit mobile game Free Fire is fueling growth at Sea’s digital entertainment service Garena, whose sales last quarter rose 71.6% to $693.4 million. Sea forecast Garena’s annual bookings -- sales plus changes in deferred revenue -- will increase to $4.3 billion to $4.5 billion in 2021.Its e-wallet service gained traction, with payment volume exceeding $2.9 billion for the quarter and $7.8 billion for the full year. Sea is trying to build financial services into its third growth pillar.Get MoreSea Ltd 4Q Adjusted Ebitda Misses EstimatesFourth-quarter sales and marketing expenses climbed 95% to $665.2 million, led by digital financial services.For 2020, Sea posted total digital entertainment bookings of $3.2 billion.Annual revenue at Garena rose 77.5% to $2 billion.Market ReactionSea’s American depositary receipts gained 5.9% at 10:03 a.m. in New York Tuesday.(Updates with U.S. share trading.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.