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Oy! Indonesia raises US$30M Series A funding round led by SoftBank Ventures Asia

SoftBank Ventures Asia today announced that it has led a US$30 million (IDR443.2 billion) Series A funding round for fintech startup Oy! Indonesia.

Other investors such as MDI, Pavilion Capital, AC Venture, CCV, Wavemaker, PT SAT, Saison Capital Pte. Ltd., and Orion Advisors also participated in this funding round.

In a press statement, Oy! Indonesia said that it plans to enter a “next phase of growth” and expand its business in the Indonesian market.

e27 has reached out to the company’s representative to find out more details about their plan following the funding round.

Jesayas Ferdinandus, CEO of OY! Indonesia, also stated that the company has reached a “centaur” status with its more than US$100 million (IDR1.4 trillion) valuation.

Also Read: Accenture selects 3 SEA startups for its 2021 FinTech Innovation Lab Asia-Pacific

“We believe that this growth must be guided by the commitment to realise the vision of OY! Indonesia as the best and the most comprehensive money movement aggregator infrastructure provider in Indonesia,” he said.

Previously, in July, DailySocial reported that Oy! Indonesia has secured a US$45 million funding led by Softbank Ventures Asia and MDI Ventures with the participation of investors such as Pavilion Capital, AC Ventures, Alfamart, Central Capital Ventura, and Wavemaker Partners.

The company’s seed funding round was closed in 2017-2020. It included the participation of investors such as MDI Ventures, Wavemaker Partners, Pavilion Capital, and Central Capital Ventura.

The report also observed that the open finance sector seems to have “such a great potential” for local ecosystem players who are able to offer ease of transaction through their tech solutions.

Starting its operations in 2018, Oy! Indonesia is a platform that enables individuals and businesses of all scales to send and receive money both digitally (cashless) and offline (cash). Its users include various commercial banks, digital banks, P2P Lending, e-money, and other fintech companies.

To date, Oy! Indonesia said that it already has one million active users who were recorded based on the use of mobile applications.

Image Credit: Oy! Indonesia

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It is time to democratise video-making. Here is how we are going to help the cause

Video Making

Our crusade to democratise the process of making video started in an Italian restaurant in Bali when I received a phone call from a client. I was on leave, but after years of being an account manager, I understood that there were clients who preferred to touch base with me directly.

Still, I had thoughts about automating my duties, rendering the marketing process one that was far more convenient for both the client and my team. 

At that time, my team had also suffered a rejection with regards to a potential mascot design for some videos we were creating for a client. After a year of ideation and planning, we were crushed that our ideas were not followed through.

On that same Bali trip at a beachside bar, I began having ideas to create a fuss-free, automated process for businesses to design their own mascot. That would save time, effort, and potential creative heartbreaks too.

Not long later, we had a company retreat where I brought up this idea to my colleagues, including Tio, my co-founder, who thought, “Why not?” The team got excited about this idea and started plotting how we could make this automation a reality.

At first, we were all caught in the idea of creating a digital process for mascot design. However, the team and I soon realised that the extension of one mascot to many potential businesses was not at all feasible, and we had to broaden what we could offer to the market.

Recognising the gaps in the market

As creative marketers with years of experience in the industry, an issue that Tio and I often came across was the lack of accessibility for many SMEs in Singapore when it comes to video marketing. Not all businesses have the resources needed to make professional-grade videos.

Big corporations can simply hire a team to film and put together a video for their campaigns, yet this might not work for growing businesses with tighter financial and creative resources, and time limitations.

Also Read: iVS rakes in US$3.2M led by Tin Men Capital to expand its video ad platform beyond SEA

Many times, the conventional brief-centred approach to engage a video production team can be painfully inefficient. Arduous creative tugs-of-war between the business owners and the designers, hidden costs, and delayed deadlines often end with broken spirits on both sides.

At the end of the partnership, the results might not even reflect what the SME owners have paid for. This is also why some businesses prefer working with in-house teams to create their video assets.

Through many of our partnerships with clients of all fields, we have also realised that videos have been an essential medium for businesses of all sizes to build brand awareness and foster relationships with their online audiences.

Even the data from studies like Wyzowl’s State of Video Marketing (2021) has shown that 93 per cent of marketers have shared that videos have become an essential component of their marketing strategy. 

With the multiple lockdowns and social restrictions over the last year, the video landscape across social media platforms has been growing even more dynamically, as algorithms change and dictate the way viewers engage with videos.

Here, targeted allocation of ad dollars needs to be spent carefully to ensure that the content reaches the right audience. Simply put, it is no longer wise to rely solely on organic traffic. 

This is where SMEs and growing businesses might be left between the gaps. Big, affluent brands have the resources to splurge on both the video making and advertising fronts. Yet, many small and new businesses with tighter marketing budgets we have come across don’t have that luxury.

Broadening what we could offer beyond mascot design, it was clear to us then that we could create a platform where videos could be easily created by growing businesses without any fuss or worries about budget. 

Creating a video-making platform does not necessarily make us special, and we knew that. In fact, there are many video template providers in the market, allowing businesses to create their own videos. However, many of them provide generic templates that don’t impress in illustrations and transitions.

Others that might offer beautiful designs are instead complex in their use. While they provide a myriad of choices and customisation controls that work great for seasoned video editors, users such as new business owners and solopreneurs with no design background might be overwhelmed. They might be looking for a quick and easy solution to create a nice and professional video for their business.

Also Read: Video content: Next wave in marketing businesses; Brightcove shows how

Months of research and development have made it even clearer for our team that we wanted to create a platform that bridged all three gaps– price, design, and ease of use. We wanted to bring to users professional, beautiful designs through an easy-to-use method, which are also affordable. This will help businesses dedicate more of the marketing budget to paid advertising while also placing them in a better position to compete with the bigger players on social media.

With this, Tio and I decided to set our hearts on creating this very platform that democratises the entire process of video creation for small and growing businesses. Hence, Oneshot was born.

It’s all about making video marketing accessible

We have streamlined the process for Oneshot users with minimal editing or design knowledge so they can personalise our templates quickly. This means getting rid of bloated stock media libraries and scene-by-scene editing and keeping everything to a point-and-click interface.

This efficient method is one way we empower businesses to create pro-grade videos quickly. In fact, we could be considered the world’s simplest video maker.

Moreover, every Oneshot template is essentially a video that is already 90 per cent complete, with most of the work done by professional designers and animators on the team, including Tio, who has accumulated seven years of experience on top of his training in design.

All that’s left for users to do is to personalise the video to their brand with our online editor in three simple steps: replace the placeholder images and copy with their own, pick their background music from a curated list, and render the video. With this simplicity, a tutorial might not even be needed. 

On top of this, all of the videos can be rendered at a very affordable price that small businesses are able to fork out, leaving most of their marketing budget for targeted advertising or other purposes. This approach we have adopted with Oneshot has helped to solve some of the budgeting issues that some clients have reflected on us over the years. 

To date, our templates have worked successfully for many partners across various industries, from retail to F&B and automotive. As creative visual communicators, we are also always working with our partners to improve their experience and our services. 

Also Read: How FilmDoo pivoted to online learning by leveraging the power of films and video in the pandemic

At Oneshot, we make it our mission to lower the barrier to entry for video advertising, and help small and growing businesses take flight. Our hundreds of templates provide businesses from all industries with endless possibilities to present their messages in a visually captivating and succinct manner.

Whether it is increasing the range of professional templates for corporate campaigns or 2D animation models, our team at Oneshot is always challenging and chasing exciting, never-seen-before ideas to help every business create the beautiful videos they deserve.

In this dynamic online marketing industry, we hope that more people will begin to realise that their growing businesses deserve a presence online with innovative, eye-catching video content.

So here we are, to help and work alongside these businesses. Having an online presence interacts and engages with the customers, who are the very foundation of any business. When done effectively, the results will surely begin to show.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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Image Credit: olegdudko

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Dropezy raises US$2.5M Pre-Series A funding round to further expand e-grocery service

Dropezy co-founders Nitesh Chellaram (left) and Chandni Chainani

Indonesia-based e-grocery platform Dropezy today announced that it has raised a US$2.5 million Pre-Series A funding round led by Forge Ventures.

The funding round also included the participation of Tekton Ventures, Next Billion Ventures, Nordstar as well as a group of angel investors including the founders of Kopi Kenangan and Bukukas.

Dropezy plans to use the funding to support the expansion of its network of “dark stores” or micro-fulfilment hubs to enable 20-minute grocery deliveries in Greater Jakarta Area.

Founded by Chandni Chainani and Nitesh Chellaram in 2019, the company was started with the vision to be “the most convenient way” to shop for groceries.

The ongoing COVID-19 pandemic has provided Dropezy with a unique opportunity as 80 per cent of Indonesians stated that they would prefer to shop online, according to research.

But the issue that the company found is that existing grocery delivery services are optimised around existing offline supply chains or cost minimization; this ends up sacrificing user experience. So it builds a platform that enables greater speed and convenience for customers by allowing small purchases with low delivery rates.

Also Read: Go-Ventures leads US$16M Series A in grocery social commerce startup Segari

Dropezy said that it started in a small space in the basement of an apartment in Central Jakarta but now has close to 100 employees. It is launching dark stores across the city to shorten the last-mile distance and ensure that customers get their orders within 20 minutes.

CEO Chandni Chainani credited this growth to the learnings and insights that the company gained from their customers.

“When we launched, Chandni and I packed and delivered every order ourselves to really understand what urban customers wanted out of a grocery delivery service and how we could deliver the very best experience. With 60 per cent of first-time customers still purchasing from us after six months, our customers already love the consistency and freshness of our product selection and our fair prices. This is only possible because we control both our inventory and logistics with a committed fleet of riders who allocate at least six hours a day for small package deliveries,” said Nitesh Chellaram, Co-founder and COO of Dropezy.

“But our customers kept on asking for us to deliver faster and now, we will. If you make some coffee and realize you are out of milk, Dropezy will get it to you before your coffee is cold. We are excited to be partnering with investors who share our vision and customer obsession,” he continued.

Prior to starting Dropezy, the co-founders have had experience working in leading tech companies such as Zomato, MatahariMall, and Zilingo as well as the grocery and FMCG sectors.

Image Credit: Dropezy

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SoftBank, Warburg Pincus co-lead US$400M+ Series D of Advance Intelligence Group

Advanced Intelligence Group

Advance Intelligence Group, a Singapore-based AI-driven technology company possessing an ecosystem of buy-now-pay-later (BNPL), digital lending, and omnichannel e-commerce products and services, announced today it has secured more than US$400 million in a Series D funding round co-led by SoftBank Vision Fund 2 and Warburg Pincus.

Existing investors including Vision Plus Capital, Gaorong Capital, EDBI, and new investor Northstar, also participated in this round.

The new investment will be utilised to expand the Group’s BNPL platform and digital lending presence across Asia. Besides, the company aims to deepen its AI and big data analytics capabilities and enterprise client coverage, and to grow its global talent pool.

“The new financing will also accelerate the digital transformation of enterprises and merchants, big and small, while enabling more equitable access to credit and financial inclusion for both underbanked and underserved consumers and businesses,” said Jefferson Chen, co-founder, group chairman and CEO of Advance Intelligence Group.

Also read: Kredivo scores US$100M more in debt funding to further grow its BNPL platform

Launched in 2016, Advance Intelligence Group is an AI and big data company helping businesses with digital transformation, fraud prevention, and process automation. It builds an ecosystem of  AI-powered, credit-enabled products and services for consumers, businesses, and merchants by using innovative technology and partnerships across Asia.

The company’s ecosystem includes BNPL platform Atome, SaaS big data analytics and enterprise solution provider ADVANCE.AI, Indonesian digital lending platform Kredit Pintar, and omnichannel e-commerce merchant services platform Ginee.

The company has a team of 1,500 staff spreading across 12 regions in South and Southeast Asia, China, and Latin America. It claims to have served over 800 commercial clients, 100,000 retailers, and 20 million consumers through its enterprise and consumer businesses.

As stated by Saurabh Agarwal, managing director of Warburg Pincus, Asia represents one of the world’s largest and fastest expanding digital marketplaces with a highly connected middle-class population that is increasingly seeking reliable and flexible solutions to meet their unmet credit demands.

According to the World Economic Forum, by 2030, there will be 3.5 billion Asians in the middle class, accounting for two-thirds of the global middle-class population. International Monetary Fund’s 2018 report also underlined that Asia is leading the charge in terms of digitalisation on nearly all fronts.

Image credit: Advance Intelligence Group

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Digital transformation for SMEs: A matter of ‘When’, not ‘If’ (Part 1)

Digital transformation SME

“Never carry a knife to a gunfight.” – The Untouchables (1987).

We are already in an age where even the guns are getting better every day (and fired by autonomous intelligent drones).  This may not be an excellent analogy, yet true all the same when it comes to business. Technological advances have increased the pace in every field, and business is not insulated from it.

Instead, technology offers scope for that rare parity in agility, effectiveness, and efficiency, which no other means of production can provide to an enterprise. And SMEs can leverage it as effectively as any of their much larger peers.

Regardless of the size of your organisation, or if you are a service company or a discrete process manufacturing SME, you need to bring on the big guns to find your place at the table. And that means going digital.

Digital transformation is in vogue these days and is touted as an answer to questions of future growth or a solution to everything that ails an enterprise.

It is considered a one-stop panacea to every business challenge. And it is imperative in today’s world to go digital, just that it makes the utmost sense when driven with a sense of purpose and with a “method to the madness”.

Enterprises, especially SMEs, need to consider it part of an overall strategy if they want to stop being a fringe player and integrate with the mainstream business.

And SMEs are neither insulated from these dynamic changes in the environment nor is the digital transformation the purview or concern of only large enterprises.

Also Read: Dinner date with data: How F&B retailers can use retail data to drive sales in a post-pandemic world

The future is information-driven, and its heart is data

In a widely complex multi-variable business environment, gut-based decision-making has limitations (though it is still essential). The challenge is not a lack of data and resulting information but rather its overload to the point of analysis paralysis.

Then there is a challenge of “some” data available and data available in silos – leading to decision making in most cases being a little affair driven by a dominant variable (because that data is most visible) rather than by a complete picture.

So how does an SME go about traversing an optimum path to an information-driven enterprise? SMEs do not have the luxury of deep pockets like a large enterprise, and therefore need to narrow their focus and start small, making the best of their smaller teams and limited skill sets.

With overwhelming costs often delaying adoption, SMEs will be comforted to know that they can leverage legacy systems rather than replacing them outright and chart out a course that eventually transforms them over some time. All the while keeping in mind the dynamic nature of the environment our businesses operate in.

Some key questions that need to be answered in the process include:

  • What are the business goals that drive me to look at digital transformation?
  • Where do I begin my digital transformation journey?
  • What areas do I need to prioritise for the best results?
  • What technology and skillsets will best serve my end goals?

Part two of this four-part article series will explore the digital transformation cycle, identifying where your company stands and the steps to move towards your end goals.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image Credit: wrightstudio

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