When it comes to finding the right people and ideas to invest in, visibility is everything. Remember that you are not alone in trying to land the hottest new emerging startups in your portfolio. If you want to become a true partner for innovation and earn the opportunity to catalyse the growth of some of the most brilliant young companies in the world, you really have to stand out.

As such, we bring good news to the most active investors in our e27 ecosystem! Lucky for you, we have just launched our latest Investor Side Widget on our e27 homepage!

These investors are listed on our Investor Side Widget because of their high level of engagement on our e27 platform and their responsiveness to Connect requests from startups. We are working to improve the discovery of more active investors in the Investor Directory as well as a follow-up next step.

For all the verified investors out there at e27, here is a chance for you to gain some extra visibility on our platform as the hottest startups in the region can now easily get connected with you via our side widget on the right side of our homepage with just one click. In order to become an active investor, a combination of factors is taken into account. This includes the 2 main factors as follows:

1. How responsive an investor is in responding to “Requests to Connects” from startups — QUICK TIP: if you have any pending requests sitting in your email, now is the time for you to clear them up.
2. Level of engagement on our e27 platform
   • Level of Profile Completeness
   • Up-to-date Investment Updates
   • General activity on the platform

For all startups out there, here is the chance for you to get connected with the most lively investors in the region! And what’s better, you know for sure now that they are the more active investors out there and will probably be responding to you in a more timely manner.

For general investors interested in the program, please read here on how it works and here on how to join.

The post Active investors get a special feature in brand new Investor Side Widget appeared first on e27.

The Fintech landscape in Southeast Asia has grown tremendously over the last 10 years. For one, Open Banking, which was initially perceived as a good-to-have, has now become essential due to many industry factors, such as a booming e-commerce industry and a large growth in cross-border business activities.

Open Banking, in layman terms, is the “opening up” of banks to external vendors and developers. This creates a controlled, and in most cases, regulated access for Third-Party Providers to make use of banking services and customer-permissioned data — services and data which would previously have been siloed behind secured servers and legacy systems.

You might then wonder why Open Banking is useful, and why banks should adopt Open Banking, which may come with the risk of subjecting their confidential and critical information to online attacks and piracy.

Similar to the past trends of open-source software and open API applications, there can be many new ideas and innovations that will be able to benefit as a result of the power of the collective mind.

How Open Banking can Accelerate Innovation

Over the years, banks have created many financial services and products to serve consumers and businesses. They have done well addressing the core financial needs of their customers. However, when it comes to innovating beyond their core strengths and expertise, it is sometimes beyond the bank’s resources and capabilities to do so.

Also read: The 5G era is here, and you can be part of the revolution

Banks could counter this issue by opening up access to some of their financial services and data to developers, financiers, and potential users. This financial ecosystem could then leverage everyone’s various strengths and expertise to develop useful solutions and use cases to provide a greater variety of improved financial products and experiences, that are able to cater to different customer needs.

Resistance to Open Banking

Although the benefits of Open Banking are easy to understand, the main reasons for the slow uptake in some regions is due to resistance and inertia. Those unfamiliar with Open Banking may be concerned about unnecessarily exposing themselves to potential risks such as fraud, security breaches, and regulatory non-compliance.

Furthermore, many large financial institutions have multi-layered organisations with many legacy systems which are deeply entrenched. This means that an extensive amount of time and resources would be needed to overhaul systems, educate stakeholders about the benefits of Open Banking, and ensure that the proper procedures are implemented.

Open Banking in Southeast Asia

While the US and European markets are global leaders in Open Banking, there has been significant progress in the Asia Pacific region. For instance, in China, Open Banking has been fairly widely adopted, and this is predominantly market-driven, as large Chinese banking groups face fierce competition from Internet-based companies such as Ant Financial.

On the other hand, in some Southeast Asian markets, such as Singapore and Indonesia, the local regulators have been promoting and encouraging the adoption of Open Banking. These regulators have published guidelines on APIs and appropriate frameworks for third-party access to the banks’ data. In other Southeast Asian markets where guidelines have yet to be published, most central banks have initiated their own payments-related APIs in order to facilitate improved e-commerce transactions .

Generally, the largest banks in each market have taken proactive steps to open up their APIs and work with Open Banking platforms such as Finantier, Brankas, and Brick to develop their own frameworks and guidelines.

Impact of Open Banking on Fintech Startups

In the past, in order for Fintech startups to successfully launch their own products, they will typically have to go through the process of building their own core banking systems, such as risk management and payment systems. They would then need to undergo robust and rigorous security checks, and acquire the necessary licenses and compliance approvals. Alternatively, they would have to integrate with legacy banking institutions, or form strategic business partnerships with them. These processes would typically take at least one to two years, and require a lot of resources as well.

Also read: Want to fast-track your growth? Fast-track your way to improved customer experience

However, with Open Banking, startups can now focus on what they do best, while leveraging existing banking systems to develop innovative and personalised solutions for consumers. Consequently, the duration required for a Fintech startup to bring their product to market has been significantly reduced. For instance, Gromo, a social media platform dedicated to financial products, was able to reduce their go-to-market timeline by up to 80%, by resolving banking integration challenges using Decentro’s Account Validation API.

On the digital payments front, startups are able to roll out their own e-wallet capabilities, while depending on banks to provide ledger systems, account opening services, and cash management services in the background. They may also offer white-labelled credit cards and Buy Now Pay Later services to new or underserved market segments, while utilising banks’ credit facilities. Additionally, startups can easily launch products quickly across various markets by making use of the local banks’ licenses, instead of applying for their own license.

What’s Next?

In both of his articles published on e27 last month, Diego Rojas, the Co-Founder and CEO of Finantier, has discussed how Open Banking has brought about Open Finance, as an extension of Open Banking data-sharing principles — to provide access to financial data, in order to enable third-party providers to have a better idea of a consumer’s financial position.

Although it might take a while for more banks to adopt Open Banking, we are starting to see that the possibilities with Open Banking are limitless. It is now up to us to decide how to best utilise the extensive financial data and information available.

To all founders and startups who are interested in learning more about Open Banking, we would like to invite you to join Diego Rojas and David Engel, Fintech Specialist at AWS, for a webinar on 24th May to learn more about the Open Banking landscape in Southeast Asia and how to tap on this burgeoning opportunity to accelerate the launch of your Fintech innovation. Eligible startups which attend the webinar will also stand to receive complimentary AWS Founder Activate credits after the event.

Interested to join? Register here.

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This article is produced by the e27 team, sponsored by 
Plug and Play

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post Open Banking: why this risky pursuit is the key to accelerating Fintech innovation appeared first on e27.

The story: Neuron Mobility, a Singapore headquartered rental electric scooter operator, has launched into Canada, after winning a contract to operate in Ottawa, in the coming month.

More about the story: Neuron will be launching its safety-leading N3 e-scooters which electronically secures a safety helmet to every e-scooter.

The e-scooter will also be fitted with bilingual voice guidance, in English and French, to educate users and help them ride
and park safely.

As of now, the company operates in cities across Australia, New Zealand, the UK, and South Korea.

Zachary Wang, CEO of Neuron Mobility said: “We’re delighted to launch in Ottawa. This year, more than ever before, Canadian cities are realising the benefits of e-scooters, and we think we are well-placed to meet their needs.”

Ata Plus appoints Elain Lockman as new CEO, plans to go IPO

The story: Ata Plus, an online equity crowdfunding (ECF) platform, announced today that it has appointed Elain Lockman as its new CEO in addition to her role as co-founder and director.

More about the story: In line with this appointment, Ata Plus has also revealed its plans to go public.

“Our vision requires us to make considerable investments in both technology and regulatory infrastructure so as to readily
facilitate the new products and services we plan to launch in the short to medium term,” said Aimi Aizal Nasharuddin, Executive Director of Ata Plus.

Also Read: Ecosystem Roundup: Is Singaporean startup Team Labs legitimate?

“We feel that going public serves our needs best as it is in line with our philosophy to democratise investments by allowing public participation at this relatively early stage of our growth,” he added.

Hong-Kong’s blockchain gaming firm Animoca Brands raises US$88M

The story: Hong Kong-based blockchain gaming firm Animoca Brands has raised US$88.8 million in its latest funding round
Investors: Kingsway Capital, RIT Capital Partners, HashKey Fintech Investment Fund, AppWorks Fund, LCV Fund, Huobi, Octava, Ellerston Capital, Perennial, Axia Infinity Ventures, SNZ, Liberty City Ventures, and Metapurse.

What the funding will be used for: To develop new products, make strategic investments, and secure additional intellectual property licenses.

More about the story: With this new funding, Animoca Brands has also gained unicorn status.

According to Tech In Asia, the company went public on the Australian Securities Exchange in 2015 but was taken off the exchange last year due to governance, personnel, and non-compliance issues.

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Image Credit: Neuron Mobility

The post In Brief: Singapore’s e-scooter rental startup Neuron Mobility launches in Canada appeared first on e27.

 

In today’s edition of “Active Investors of the week”, we have Golden Equator Ventures , ExtraVallis, KDDI as our top three most active investors in our e27 Connect Program. The following are some details on who these investors are and what are their investment criterias:

Golden Equator Ventures
Based in: Singapore
Investment range: Not specified, Series A, Series B, Series C & Above

Straight from Golden Equator Ventures: Golden Equator Ventures (GEV) is a venture capital firm that invests in high-growth technology companies in Southeast Asia. GEV is a subsidiary of Golden Equator Group. Through its ecosystem of businesses and networks, Golden Equator invests in the future generation through its key pillars of Capital, Technology, and Community to build financially rewarding businesses while driving positive social impact.

Latest Investments:

1. Whitecoat (Singapore), Series A, $8M, Apr 2021
2. dahmakan (Malaysia), Series B, $18M, Feb 2020
3. Rever (Vietnam), Venture Round, $2.3M, Sep 2019

Verticals: Fintech, Human Resources, Media and Entertainment

ExtraVallis
Based in: United States of America
Investment range: Not specified, Angel / Pre Seed, Seed

Straight from ExtraVallis: ExtraVallis enables you to focus on your business rather than fund-raising. Ensures exposure to investors, control over how you raise capital, and easier management and presentation of your metrics to demonstrate success.

Verticals: All/Any

KDDI
Based in: Singapore
Investment range: Not Specified, Seed, Pre-Series A / Bridge, Series A, Series B, Series C & Above

Straight from KDDI: KDDI supports startups that shape the new future, through offering investments, facilities, and marketing channels. KDDI is committed to creating a new world with you challengers.

Latest Investments:

1. Repro (Japan), Series C, $27M, Feb 2020
2. Cluster (Japan), Series C, $7.47M, Jan 2020
3. GTRIIP (Singapore), Venture Round, Undisclosed, Dec 2019

Verticals: Fintech, Consumer, IoT/ AI

We wish you all the best in your fundraising journey and hope our e27 Connect Program will assist you to secure quality conversations with the top investors in Southeast Asia in the quest to attain your fundraising goals. If you are a startup looking to fundraise, sign up here now for a free trial to get connected with the abovementioned investors.

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Photo by RODNAE Productions from Pexels

The post Here are 3 investors active on e27 Connect that you may start connecting with today appeared first on e27.

The ongoing COVID-19 pandemic has opened up unique opportunities across many different sectors, from e-commerce to health tech. Among these categories, one that is not discussed as often is the maritime industry.

But before we dig deeper into the available opportunities for maritime tech players, we need to understand the challenges that COVID-19 has brought.

“When COVID-19 hit, the maritime industry faced major challenges in facilitating crew changes due to border restrictions. This meant that seafarers had to stay on board for far longer than the length of their contract which in turn cast a greater spotlight on their conditions at sea,” Dr Mark Lim, Programme Director at PIER71, explains to e27 in an email.

“This accelerated the development of new products and services that enhance seafarer welfare and training. Some of these include remote monitoring of physical and mental health and well-being, digital documentation and virtual reality-based training,” he continues.

Dr Lim further stresses that the maritime industry’s high dependency on manual processes has made “quicker adoption” of tech solutions a necessity during the pandemic, as part of the effort to minimise physical contact.

“Before the pandemic, PIER71 already saw startups using blockchain for applications that verify qualifications of seafarers and transaction records. We anticipate that there will be more opportunities for such maritime tech to digitise and authenticate documents,” he says.

Also Read: How Signal Ventures aims to sail towards new opportunities in global maritime tech scene

In general, the maritime industry is responsible for more than 80 per cent of global trade, with Singapore being home to over 140 international shipping groups and over 5,000 maritime establishments.

Considering this fact alone, it is clear that there are many spaces for startups to innovate in the maritime sector, even beyond the pandemic.

For example, Dr Lim explains that the industry is committed to a 50 per cent reduction in total annual greenhouse gas (GHG) emissions by 2050, as compared with 2008 levels.

“This makes the development of new technology and infrastructure for energy sources such as biofuels, hydrogen and ammonia, as well as more immediate technical and operational measures for decarbonisation, of equal importance,” he says.

Even the recent Suez Canal blockage has highlighted the importance of maritime transport and its impact on the global supply chain.

“In order to minimise disruptions caused by unforeseen circumstances, we need to have better supply chain visibility, efficiency and resilience. Being one of the busiest ports, optimisation of sea space is another critical priority for Singapore.”

Entering the space

Now that the opportunities for startups are clear, Dr Lim centres the discussion on what founders need to know about entering the maritime tech space.

First and foremost, by nature, the maritime industry is a B2B market. This means that founders are likely to uncover opportunities by focusing on working with the corporates rather than inventing their own business models.

“Having said that, the maritime industry is undergoing a major digital transformation and there is a huge opportunity for startups to bring in fresh insights and solutions even if they do not have a maritime background. At PIER71, we encourage start-ups to reimagine their technologies for maritime and have seen many startups adapt their solutions from a different industry successfully,” he elaborates.

With the goal to grow the maritime innovation ecosystem into one that is vibrant and globally recognised, PIER71 has been working closely with Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS).

The institution says that over the last three years, they have received more than 500 applications in their Smart Port Challenge from tech startups around the world, with close to 60 startups have benefitted from Smart Port Challenge and PIER71 Accelerate. Twenty-five companies have received MPA grants towards prototype development and pilot projects with PIER71’s maritime corporate partners.

In addition to providing grant support, MPA is working with the Enterprise Singapore to launch the Sea Transport Industry Digitalisation Plan (IDP). This initiative will enable startups to get their solutions accredited and can potentially receive grant support of up to S$30,000.

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Image Credit: Andrey Sharpilo on Unsplash

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