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HuffPost investor, Binance join US$15.5M Series A+ round of fraud detection startup FrankieOne

(L-R) FrankieOne Co-Founders Aaron Chipper and Simon Costello

FrankieOne, a global platform connecting customers to multiple identity verification and fraud detection vendors via one API, has added US$15.5 million to its Series A+ round.

The investors are AirTree Ventures, Greycroft (an investor in Bumble, HuffPost, and Venmo), Reinventure (Westpac’s venture arm), Tidal Ventures, Apex Capital, Binance Labs, and Kraken Ventures.

This brings the Australian startup’s total Series A funding to US$30 million.

The new tranche will allow FrankieOne to expand its business across Asia Pacific and North America.

Founded in 2019 by Simon Costello and Aaron Chipper, FrankieOne is an identity and fraud detection engine helping companies onboard and protect their customers.

Also Read: 8 ways cyber crimes are impacting your business

The platform connects banks, crypto exchanges, fintech and gaming companies to prominent vendors and data sources across 48 markets through one API integration.

Through their vendor partners, FrankieOne is connected to hundreds of data sources enabling businesses to verify customers from multiple data sources selected from a global data pool, increasing the probability of a fast, automatic verification.

It enables customers to choose their preferred data vendors and to switch to new vendors, fraud detection capabilities and geographies. The solution covers the full customer life cycle, from onboarding to transaction monitoring.

The platform is optimised to verify customers safely and securely and leverages over 350 data indicators to minimise risk and maximise opportunity.

FrankieOne has a presence in Australia, Singapore and the US.

The firm claims its revenue grew 4,700 per over the last 12 months, with customers including market leaders Westpac, Shopify, Afterpay, and Pointsbet.

Also Read: ‘From a cybersecurity perspective, the Asian market still uses legacy tools’

CEO Simon Costello said: “We have been laser-focused on improving the onboarding customer experience and have been overwhelmed with the response, now helping over 170 financial institutions globally. Our platform is helping drive business growth and allows our customers to respond quickly to trends in fraudulent behaviour and changing regulations, which is particularly helpful, given the increase in fraud.”

Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Ecosystem Roundup: Temasek says FTX could’ve defrauded it; TipTip, AgriAku raise funding, PayMongo CEO Francis Plaza steps down

HK payments infra startup XanPool bags US$41M led by Target Global
XanPool plans to use the new capital to fuel its expansion into Europe, North Africa, LatAm, and the Middle East; It is a fiat-gateway software solution for exchanges, wallets, and other cryptocurrency businesses.

Francis Plaza steps down as PayMongo CEO
He has been replaced by acting CEO Isabel Ridad; Plaza’s stepping down comes months after PayMongo was hit by many crises, including the fallout among top leaders and the firing of two co-founders.

Fraud detection startup FrankieOne raises US$15.5M Series A+
The investors include AirTree Ventures, Greycroft, Reinventure, and Binance Labs; It connects banks, crypto exchanges, and gaming firms to prominent vendors and data sources across 48 markets through one API integration.

Former Grab Director’s influencer platform TipTip banks US$13M
The investors include East Ventures, Vertex, SMDV, and BIG Ventures; TipTip enables influencers to create content and connect directly to their fans; It’s established an online-offline presence across 40 cities in Indonesia.

AgriAku raises US$5M more in Series A extension
The investors are TNB Aura, Indogen Capital, Gentree Fund, and Go-Ventures; AgriAku is a B2B marketplace that currently trades goods that are used in the production side of agriculture, which include fertiliser and seeds.

Vietnamese e-grocery app raises US$4.5M for R&D
The investors are South Korea’s Nextrans and Vietnamese VC firm Do Ventures; Cooky combines an e-grocery store and a meal kit delivery service, where customers can shop for individual ingredients and full recipes.

Gojek, ComfortDelGro announce ride-hailing partnership
Gojek currently has 2.6M driver partners in Indonesia, Vietnam, and Singapore; ComfortDelGro’s fleet includes 34K buses, taxis, and rental vehicles in Singapore, Australia, the UK, New Zealand, China, Ireland, and Malaysia.

EDBI’s chief exec to step down, establish new fund
The details of Chu Swee Yeok’s new fund have yet to be announced; Chu joined EDB 36 years ago and became the CEO of EDBI in 2009; After resigning from her position, Chu will serve as senior adviser to the chair of EDBI.

‘Our main competition in SG is the idle cash lying in banks’: Kristal.AI
CEO Asheesh Chanda says approximately US$400B cash is sitting idle, not working for their owners; The Singapore-based private wealth management startup recently raised US$10M+ in pre-Series B.

Temasek admits it could have been defrauded by FTX
Between Oct 2021 and Jan 2022, it invested a total of US$275M in FTX International and FTX US; On Nov 17, Temasek announced it’d write off its entire investment in the FTX, which constituted 0.09% of its net portfolio valued at US$293B.

Crypto.com in top 5 for strong AML; Binance places 42nd
Crypto.com, which has in-principle approval, placed fifth on the list featuring crypto exchanges with strong AML systems; The leaderboard is provided by UK-based Hoptrail and is updated in real-time using both on-chain and off-chain data.

The Philippines can be ‘Korea of Web3’, says Axie Infinity Co-Founder
Jeffrey Zirlin cites blockchain gaming as a possible vehicle for the rise of the Philippines as a digital powerhouse; Axie Infinity, one of the most popular NFT games, transformed the Philippines during COVID-19.

Cultivating an honest culture: Why leaders should be transparent
Transparent leadership is the key to creating a culture of trust; here’s how we’re seeing future-forward leaders put money where their mouth is.

Why venture capital is going big with cloud mining
Cloud computing has been an innovation factor for digital transformation, converging with big data and AI to power business functions.

8 ways cyber crimes are impacting your business
No one can predict when or how they will experience a cyber attack, but we can strengthen vulnerable systems in advance.

Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Is “teleporting” between workspaces truly possible?

tonari

In an era where people are exploring new ways of working and living, the need for new and innovative communication technologies that allow people to essentially be in two places simultaneously is increasingly in demand. A Japanese startup is promoting its vital technology, which functions as a teleportation space.

tonari’s technology is described as a room-sized portal where two physical spaces are connected, allowing users to feel like they are present together in a single seamless physical space. Unlike the metaverse, which is a separate virtual world, tonari is the life-like experience of being next to each other in the same room.

Starting in 2017 as a non-profit social venture, tonari’s initial funding to develop the technology came from a non-profit grant. After doing the initial R&D to develop the hardware and software in 2018, they incorporated tonari as a company.

tonari Cofounder, Taj Campbell, spoke to e27 to describe their technology and lay out their expansion plans as they look to establish a presence in Singapore. With a background in Computer Science, both Campbell and co-founder Ryo Kawaguchi are former Google employees who decided to join forces and start this venture.

tonari’s mission: connecting people in different locations

tonari

“It’s like teleportation” says Campbell. “If you take extremely high-end hardware and build the software, you can push the performance of video communication to its limit. Most of the time, we use video communication on a small screen like a laptop or mobile. In order to blow up the experience to be life-size and immersive, you need a lot more resolution and more fidelity, and you need to do everything fast,” he explained.

Everything tonari does is done with a real-time video display, thanks to their solution’s hardware and software capabilities. Campbell explained that in most video calls, you experience a lag, but for real-time immersive communications, you cannot afford that lag. “You must capture and process the image as quickly as possible. Video gets compressed and sent over the internet, and then it has to get decompressed and displayed on-screen — and you need all of that in 100 milliseconds, or less so people don’t notice a lag,” Campbell shared. “We built all of our software and hardware from zero to achieve that,” he added.

Also read: X-HUB TOKYO’s Demo Day: Welcoming the 9 aspiring Japanese

tonari’s co-founder believes everyone wants teleportation or some form of it. “You make a lot of tradeoffs in your life, so you don’t have to be everywhere all the time,” he remarked. The chief reasons people choose to live where they live are because of work, access to education for their kids, and where family members are. The motivation to create tonari comes from that basic human desire to have all these things even though we physically cannot be everywhere at the same time.”

What does he think is the general impact their technology can have? “There are a ton of applications from having the ability to be in two places simultaneously. All the things you need to do face to face but cannot since you are not in the same location are possible with tonari.” Based on what they believe are people’s priorities, tonari decided to focus first on the workplace, then education, and then the home.

Campbell elaborated that many companies have grown very quickly, building distributed workforces. However, the need to address how they can make their employees feel connected and collaborate better with team members arises. He cited their own company as an example — “We’re here from Japan, and we want to establish a presence in Singapore, but we want our teams to feel connected.”

Also read: Exploring corporate partnerships as a pathway to scaling your startup

“The workplace is much more distributed today,” Campbell said. “The job market is flatter, and way more remote positions exist. Companies are much more open-minded about remote work opportunities, and that change in the workforce will create massive changes. However, companies will still look to build cohesion in their teams and technologies that make people feel like they’re physically together will be essential. 

While the metaverse offers a platform, he thinks that no one wants to wear a VR headset at work, so you need a different solution. Video conferencing fatigue also builds up, and companies are starting to use the budget for remote work to spend on team get-togethers. In the future, he believes there will be many more lean companies that are remote.

Campbell explained that most distributed companies seek ways to build better relationships. tonari believes in people being face-to-face, and through their technology, distributed teams can spend a lot of time within the same life-like environments.

Facing the challenges of scaling up

When the co-founders started tonari as their first venture, they came from a background of building software applications. Learning to scale the operations of hardware manufacturing, installation, and service was a new challenge for them since installing physical hardware requires a hands-on process. People want solutions for different reasons, such as a casual meeting place or a formal desk meeting room. In each case, they need a lot of physical work and scaling has been their biggest challenge. It can be a very capital-intensive process, explained Campbell.

Deciding to expand in Singapore has meant the added challenge of certifying and licensing each aspect of their solution. However, they have experienced many pleasant surprises as well. The co-founder said he expected more failures and more maintenance costs, and has been relieved to experience almost no issues or downtime. Campbell is glad that the tonari team used the RUST programming language — which has delivered performance and security and has been less prone to failures.

As a startup, they continue learning a lot from installing tonari in office environments. They were curious to know if it would actually help people who don’t see each other all the time. Some insights they have noticed is that people are much more chatty in the morning and evening. tonari allows people to engage in more casual social interactions than any remote working tool. Such solutions have helped teams to build camaraderie similar to when they are in the same office.

Launching at Leave a Nest Singapore

tonari

tonari recently launched at the Leave a Nest office in Singapore last November 2022. They also have an installation in central Tokyo, a large co-working space called “Center of Garage” for various Japanese manufacturing tech companies working with entrepreneurs and startups in Japan. 

One of the Leave a Nest’s goals is to help researchers and entrepreneurs from Southeast Asia expand their operations in Japan’s huge market. Conversely, the organisation aims to help bridge innovators from the country to the rest of the world, penetrating unique global markets and exploring opportunities overseas.

Leave a Nest functions as a bridge between Japan and Singapore, and tonari is playing an essential role in helping them create this bridge, said Campbell. He added that people from both countries could meet and collaborate, and now, companies in Singapore can see how this connection is built without having to move between the countries physically.

The road ahead

Campbell feels that even when tonari started their work, they knew that achieving the company’s long-term vision would take years. You can build many apps, but designing hardware and scaling it is an even more enormous undertaking. 

He compares it to the Tesla journey — they started by building only 100 cars in the first two years of operations. It took them a long time since they had to make each capability from the start. The co-founder thinks that while tonari is not as complicated, it has a lot of components. With each new iteration and application of tonari’s technology, Campbell feels they will have to learn how to scale each aspect of their operations — which takes time.

Also read: Customer retention strategies are getting trickier. Can you keep up?

Overall, their long-term goal is to build a product which anyone can buy off a shelf in 10 years. 

From connecting workplaces and families to connecting people who are sick and cannot be physically present, such as in ICUs or older family members living in nursing homes, he believes their technology can connect everyone for whatever purpose they want to be connected. 

“I think it’s imperative as a society that we continue to invest in technologies that give us this kind of connectivity,” he concluded.For more information on how their technology works, visit their official website.

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This article is produced by the e27 team, in partnership with Leave a Nest.

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‘Tis the season to be giving! 4 ways Web3 is transforming the fundraising sector

With Thanksgiving and Christmas right around the corner, many people will think of their favourite charities and how they can offer support during the holiday season. Fundraising is particularly important to charities at this time of year when most are willing to part with a little to help the causes that matter to them most. 

However, according to the Fundraising regulator Annual Complaints Report 2021, the complaints about misleading information increased by 17 per cent. There are also concerns about fundraiser behaviour, citing pressure to donate. What people require is a safe way to transfer surplus income to causes that they want to support.

While the disparity between those who earn a lot and those who earn a little continues to grow wider, giving is a common ground for all who care about others in society.

Giving a little to make an impact

Crowdfunding is something that the public has become familiar with in recent years. Go Fund Me, Just Giving, and Patreon offers ways for the public to offer support for the projects they feel passionate about.

Gitcoin grants have taken this model into Web3. It is one of the best examples of fundraising in the Web3 sector today. It successfully allows anybody to support a mission, team or project they believe in. 

The beauty of their quadratic funding model is that you don’t have to give a lot to make a big difference. With over US$20mm funded, Gitcoin is currently the largest experiment of Quadratic Funding used to fund digital public goods. The idea is simple, all contributions to a project during the defined time period count towards the matching rewards. 

Also Read: Singapore gets an NFT-gated Web3 co-working space Metacamp

This is truly where blockchain technology shines. Although the model focuses mostly on developing Web3-related communities, products and services, it is certainly setting a precedent for future funding opportunities in other industries.

Partnerships in the metaverse

Charities have opportunities to use virtual worlds to engage new audiences, stimulate conversations around their biggest campaigns and help the wider public to understand their vision. Innovative charities are beginning to learn about the opportunities in the metaverse. 

Susan G.Komen, the world’s leading Breast Cancer Charity, recently teamed up with Upland during Breast Cancer Awareness month. Using digital assets to help fight breast cancer. Upland players can purchase unique assets and also display the iconic pink ribbon on their player profiles when they support the cause. This innovative approach to fundraising allows Susan G.Komen to reimagine its reach worldwide.

Engaging with the digital-first donors

How can we support the initiatives we care about and have those initiatives guarantee that the funding is going to those who need it the most?

The younger generation is hyper-aware of their digital footprint and also far removed from the traditional fundraising mechanisms of today. The transparency offered via blockchain technology offers a new, transparent way to track donations, ensuring that all support given to a charity ends up in the right place. 

Charitblez, a recent winner of the re-imagine fundraising award, is planning to use individual crypto tokens to allow existing charities to tap into Web3 communities and offer new ways for the younger generation to engage with a charity’s mission. Oxfam are their first case study, and it will be interesting to see how token contributions differ from existing 

Using crypto as an alternative way to support good causes is one way to disassociate giving from parting with hard-earned cash. This new approach to non-profit funding management adds potential new revenue streams for charities.

Cash is no longer king

How often do you pass a charity bucket on the street and wish you had cash to throw in? It happens regularly. Yet, nonprofits still struggle to find a solution to this predicament. If they hold out card machines, it appears as though they have money to invest in technology.

Also Read: How to create defensible moats in Web3

This creates a perception of wealth that causes people to question the need for support. However, mobile technology has quickly become a staple in all major cities across the world, with over 4.6 billion mobile internet users worldwide.

Many nonprofits recognise the value of mobile technology for meeting their fundraising objectives. However, the implementation can prove cumbersome when archaic systems are firmly embedded into the charity’s organisational culture.

The Giving Block provides an easy way for nonprofits to accept crypto donations and individuals who hold cryptocurrencies to donate to some of their favourite causes. 

As more nonprofits focus on addressing fundraising challenges in a digital era, new Web3 opportunities will allow them to tap into new audiences, create brand awareness and offer alternative methods of support for the younger generation sceptical of traditional means of fundraising. 

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 groupFB community, or like the e27 Facebook page

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Why content strategy is vital for your B2B startup’s long-term growth

Content marketing costs 62 per cent less and generates three times as many leads as outbound marketing. So why do many CMOs and marketing managers prioritise paid advertising?

Unless you have a pile of cash to burn, that’s something hard to understand. Consider just that about 70 per cent of people now get information from blogs rather than traditional advertisements, and bots make up about 40 per cent of all web traffic. But let’s now take a step back and see why focusing on content can be a game changer for your startup’s organic growth in the long term.

If you are trying to grow a startup, especially a B2B one, you know that generating leads can be tricky. Finding the right balance between being visible and providing valuable content that will help your target audience is vital. That’s where content marketing comes in. By creating quality content, you can attract leads that are more likely to convert.

A common error among startups is failing to create a content strategy from the beginning. This can lead to wasted time and resources down the road. A content strategy should be tailored to your specific business and audience.

Also Read: A marketing map to the world beyond third-party cookies

It should outline who you’re targeting, what types of content you will create, and how you will distribute it. By setting up a content strategy from the beginning, with a content calendar adequately planned, you can ensure that you’re getting the most out of your content marketing efforts.

If my direct experience is mainly with financial services, particularly B2B fintech companies from Europe and the US, where quality content is working much better than anything else to generate new leads, the reality is that content marketing works equally well in Asia and other geographies as well as for different verticals that have nothing to do with fintech, blockchain or crypto.

Here’s a closer look at why content is fundamental for startups’ lead generation:

Content helps you attract the right leads

The first step in generating leads is attracting the right ones. You want to make sure that you’re targeting individuals who are likely to be interested in your product or service.

Creating quality content is a great way to do this. By writing blog posts, whitepapers, e-books, and other types of content that can be helpful for your target customers, you are likely to attract relevant leads.

Content helps you nurture your leads

Once you’ve attracted the right leads, it’s important to nurture them, so they continue down the sales funnel. Quality content can help you do this by providing valuable information that will help your leads make a buying decision.

For example, let’s say you sell software that helps businesses manage their social media accounts. You could write a blog post about choosing the right social media platform or create an e-book with tips for creating successful social media campaigns. By providing helpful information, you can nurture your leads and turn them into customers.

Content helps you build trust

Another reason why content is vital for B2B startups’ lead generation because it helps you build trust with your audience. When potential customers see that you’re providing quality information, they’ll be more likely to trust your brand and do business with you in the future.

This is especially important for startups because larger corporations generally hesitate to do business with new companies.

Also Read: We can no longer adopt a cookie-cutter approach to marketing: Gunalan Ram of CINNOX

It is also crucial to remember that the key to success in content marketing is consistency. You need to create and distribute content regularly so that you remain top of mind with your target audience.

Additionally, it’s important to track how your content is performing and ask for people’s feedback so that you can better understand your customers’ needs and pain points and make adjustments as needed.

What is probably more important than anything else is that Inbound marketing is about creating content that solves people’s problems. When you do that, you become a trusted source of information, and people become more likely to buy your products and services.

If, instead, you create sales-oriented content that is not genuinely useful to your readers, then you are just wasting their time and yours.

Content is vital in generating leads, especially for B2B startups, and should be considered a long-term investment.

It takes time and effort to create and distribute content. And you can’t expect too much in the short term. But in the long run, the results can be remarkable and exponential.

So if you still need to start using content as part of your lead generation strategy and you’re looking for a way to grow your startup organically, then the time to start is now.

Join us in the Singapore stop of the Big Leap roadshow.

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 groupFB community, or like the e27 Facebook page

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