Treasury management is a crucial aspect of any financial management strategy as it plays a vital role in ensuring the financial stability, longevity and success of a project or organisation.

In the ever-changing and volatile crypto market, treasury management can prove to be a lifesaving strategy for crypto projects, enabling them to navigate through bear markets and maintain their financial stability. However, this solution is often neglected as many do not consider treasury management seriously.

Failure to properly manage treasury operations can lead to cash flow problems, exposure to foreign exchange risk, and decreased returns on investments, all of which can have significant negative impacts on a project’s financial health.

An efficient treasury management involves proactively managing a range of financial risks and liquidity, and involves activities such as cash management, foreign exchange management, debt management, and investment management. The proper management of these areas helps to mitigate potential financial risks, ensure sufficient cash flow, and maximise returns on investments.

Efficient management of cash flow

By closely monitoring cash inflows and outflows, projects can make informed decisions about when to spend and when to save. This helps to maintain a positive cash flow and provides a buffer against economic uncertainty. Moreover, maintaining sufficient cash reserves is critical for crypto projects, especially during uncertain economic times.

Treasury management helps to ensure that a project has adequate cash reserves to meet its financial obligations or any potential financial shocks, maintain stability, ensuring financial strategy meets business strategy. Sometimes also raising capital for the business if needed.

Also Read: Why it’s better for Web3 to just disappear

This helps to avoid running out of funds, which can have serious consequences for a project’s long-term success.

Risk management of foreign exchange

Foreign exchange risk is a significant challenge for crypto projects that operate in multiple countries or deal with customers or suppliers in different currencies. Treasury management can help mitigate this risk by hedging against currency fluctuations.

This helps to reduce the impact of currency fluctuations on the project’s financial performance and provide stability during times of economic uncertainty.

By implementing effective foreign exchange management strategies, crypto projects can ensure that they are protected against currency fluctuations and maintain their financial steadiness. This is particularly important during periods of economic uncertainty, when currency fluctuations can have a major impact on a project’s financial performance.

Strategising investments

Projects that have invested in digital assets such as Bitcoin or Ethereum need to be able to effectively monitor and manage these investments to maximise their returns. Treasury management can help with this by providing tools and strategies for effectively monitoring the performance of digital asset investments and maximising yield.

This helps to minimise the risks associated with these investments and ensure that the project is maximising its returns. By utilising investment management strategies, crypto projects can ensure that they are making informed decisions about their investments and are able to maximise their returns in the long run.

Advantages of working with an experienced institution 

Working with an experienced and licensed institution is crucial for crypto projects looking to manage their financial risks and maintain liquidity in uncertain times. Such institutions are reputable and reliable and provide assurance to projects that their financial needs are in good hands. They also help crypto projects navigate the bear market and maintain stability during economic turbulence.

When it comes to asset management, not all institutions are suitable for working with crypto projects. In order to manage their treasury effectively, crypto projects need fund managers who understand the complexities of the crypto ecosystem and can bridge the gap between traditional finance and digital assets.

The bridging of the gap also enables crypto projects to diversify into better risk free investments, especially since short-term US treasuries are currently yielding 4.9 per cent p.a.

Licensed institutions that specialise in digital assets offer a range of financial management solutions for crypto projects, including portfolio and asset management, bespoke yield generation strategies, cash flow planning, and fiat liquidity management solutions. These institutions can provide the expertise and experience necessary to minimise investment risks and maximise returns.

Also Read: Into the metaverse: When Web3 and virtual worlds collide

The process of working with an experienced institution typically starts with a deep dive into the company structure, business model, and financial drivers of the crypto project. This helps the institution to understand the client’s financial and operational requirements, as well as regulatory, tax, accounting, and legal needs.

Based on this information, the institution will propose a bespoke financial management strategy and asset allocation. The client can then leverage the institution’s solutions and network of institutional counterparties, including custodians, exchanges, market makers, and selected DeFi solutions. Crypto projects may also leverage on the institution’s balance sheet to lower their trade execution costs.

Regular reporting, analysis, and quarterly strategy reviews and adjustments ensure that the solution evolves with the client’s needs as the business grows. By working with a licensed institution, crypto projects can benefit from the expertise and experience of seasoned professionals, as well as the assurance of a strong partner who can grow with the business.

Consequences of neglecting treasury management

Neglecting treasury management can have serious consequences for crypto projects. Poor treasury management can result in increased financial risks, such as the risk of running out of cash, exposure to currency fluctuations, and unprofitable investments.

A project that does not maintain adequate cash reserves may face liquidity problems and difficulty meeting its financial obligations. Additionally, without effective investment management, a project may make poor investment decisions that result in low returns or significant losses.

The negative impact on the project’s reputation can also lead to difficulty attracting investment and retaining customers. It is essential for crypto projects to manage their finances effectively and stay on top of their treasury management to minimise these risks and ensure their success.

Engaging an experienced fund manager for treasury management can help make the process much easier. Not only will they bring the expertise and experience necessary to manage your finances effectively, but they can also provide peace of mind knowing that your financial needs are in good hands.

Additionally, an experienced fund manager can help you navigate the complex and ever-changing world of digital assets, making sure that you are making informed decisions about your investments. They can also provide access to a network of institutional counterparties, including custodians, exchanges, market makers, and selected DeFi solutions, giving you a comprehensive financial management solution.

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Indonesia-based fintech Ledgerowl today announced the successful completion of its pre-seed funding round, led by Init6 and Investible, for an undisclosed amount.

The investment will allow Ledgerowl to further develop its product and accelerate growth.

“We are grateful for the support of both investors and the confidence they have shown in our team and technology,” said Ledgerowl CTO & Co-Founder Adrian Yasin. “With their guidance and funding, we can now accelerate our growth and accelerate our products to market faster. We’re excited to work with our new investors and look forward to helping SMBs across Southeast Asia add efficiency to their back-office operations.”

The company said that since its inception, it has been bootstrapping and reinvesting profits into the company and technology. During the pandemic, the number of customers grew significantly as the demand for more flexible accounting and remote services soared. 

“While we’ve successfully bootstrapped to date, we realised how an injection of capital will add fuel to scale and grab this fast-growing market,” said Ledgerowl CEO & Co-Founder Rey Kamal.

Also Read: How Vietnam is climbing to the throne of fintech among Asia Pacific countries

Ledgerowl’s AI-powered platform leverages machine learning to automate many of the tasks involved in bookkeeping, such as data collection, data entry, reconciliation, and classification of transactions. The startup aims to empower business owners to maintain accurate financial information, reducing the need for hiring internal accounting staff, reducing the cost of bookkeeping, and improving their financial decision-making.

In a statement, Ledgerowl explains that it was born out of a passion when Co-Founder Rey Kamal began managing bookkeeping for his friend’s small business as a side hustle. Late nights crunching numbers and generating financial reports made him realise that much of the process was repetitive and could benefit from automation.

Co-Founder Adrian Yasin later joined and the brand was officially launched in 2019.

In 2020, Ledgerowl welcomed its first strategic partner, Umawar Investment Group. According to the startup, the family group supercharged Ledgerowl’s growth leveraging their vast ecosystems, experience, and business contacts to help validate the idea.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

Image Credit: Ledgerowl

 

 

 

 

 

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Singapore-based carsharing platform GetGo Technologies has secured an SGD20 million (US$15 million) investment from Treïs, a family-backed investment group.

This will enable GetGo to accelerate the growth of its electric fleet with a target of 10,000 greener vehicles by 2030 and to strengthen its technology and operational platform.

Also Read: Is Singapore ready for the EV revolution?

Launched in February 2021, GetGo operates over 2,100 vehicles across 1,400 locations, serving over 50,000 users and making over 150,000 bookings monthly. With no deposit or membership fees, users can flexibly book a car for as short as an hour and as long as five days.

GetGo cars are typically used to take children and the elderly to activities, to go out with family and friends, or to transport bulky items.

The service’s cost is based on duration and distance, with fuel, maintenance, and insurance costs all included.

Toh Ting Feng, CEO and Co-Founder of GetGo, said: “We believe that sustainable and efficient carsharing has a critical role to play in the government’s vision of a green and car-lite society. It is especially important in Singapore, where we have a world-class public transportation system and the world’s highest cost of car ownership.”

Also Read: Goldbell acquires BlueSG, to invest US$52.3M in the e-car sharing firm over the next 5 years

“Treïs’ investment allows us to continue our push towards electrification and extend our technology leadership. By 2030, we aim to serve more than a million households in Singapore, greatly reducing the need for car ownership and realising a significant part of Singapore’s Green Plan 2030,” he added.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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Over the last few years, the global tech startup ecosystem found itself at a standstill.

Having to cope with a global pandemic, many startups had to pivot their products and services in order to address unpredictable market demands. Some companies struggled more than others and one of the biggest hurdles we faced was the inability to connect and engage with the community, learn from each other’s best practices, and figure out together what works and what doesn’t.

When it comes to connecting with other startups, networking with corporates and investors, and engaging with the larger tech startup ecosystem, it has been a particular struggle for many. While webinars and conference calls proved to be useful, there seemed to be no perfect way to replicate the authentic experience of engaging each other in real life.

Thankfully, things are much different now and as economies continue to open up, we finally have opportunities to reconnect with our communities.

Exciting things to look forward to at Echelon Asia Summit 2023

Echelon Asia Summit comes back this year to help spark impactful conversations and create meaningful connections among startup founders, corporates, investors, and other members of the community. Guided by its theme, “Building towards a sustainable and impactful tech ecosystem”, Echelon Asia Summit 2023 is bringing back its top-notch features to enable a truly connected global startup ecosystem.

Also read: Should customer journey be personalised in the age of automation?

It has always been Echelon’s longtime commitment to be an ecosystem enabler, facilitating connections and partnerships to help startup founders with exciting and innovative ideas reach their best potential. In keeping with tradition, the 2023 edition of Echelon comes back in full swing, bringing with it a slew of features that can enable collaborations among today’s most compelling innovators.

Here are the following features that you can enjoy at Echelon Asia Summit 2023:

• Content Stages – This is a dedicated feature designed to help inform and inspire business leaders and future founders with stories about how some of today’s key industry leaders navigate the complex startup world. Here, you will hear from the best of the best as they share tips, tricks, and best practices to help young founders learn the ropes around building and scaling a company.
  
  Learn from top founders and thought leaders from Asia sharing their origin stories, future strategies, lessons learned, and advice on starting up, growth, and scaling. 
• TOP100 Finals – Having been participated in by countless startups across Echelon’s history, the TOP100 Programme is an exciting opportunity for any founder to showcase their bright new ideas to a crowd of industry giants, corporates, and investors. Echelon Asia Summit features the TOP100 finals to offer startup founders a platform to pitch their innovations on stage to some of today’s most influential business figures in the Asia Pacific.
  
  Witness the crowning of the grand winner of e27’s regional startup competition as they pit against 100 other up-and-coming startups. 
• Business Matching – Like all past editions of Echelon, one of the most sought-after features is business matching. Through this, startup founders stand the unique chance of directly engaging with other ecosystem stakeholders to explore opportunities together that can help both parties grow their businesses and reach new heights.
  
  Business matching is here to kickstart discussions between startups and potential investors and corporate partners to facilitate favourable business outcomes.

Also read: Explore the global market with JETRO x Techstars Startup City Acceleration Program

• Roundtable Discussions and Workshops – With all the great startups representing a diverse range of industries, it is important to learn from experts according to your specific needs. Thus, Echelon Asia Summit proudly offers roundtable discussions and workshops to participants where they can learn trends and insights about today’s market, as well as access trade secrets that can help them improve the way they run their companies.
  
  This feature offers closed-door, exclusively themed events dedicated to exploring new opportunities, initiating discussions, and knowledge-sharing amongst a curated audience and selected companies. 
• Special Partnered Programs – If there is one thing Echelon Asia Summit is known for, it is for connecting industry stakeholders to help them enrich their professional circles and network with potential collaborators.
  
  The Special partnered programs provide endless opportunities to network, explore business opportunities, and discover new revolutionary startups with partner programs like SAFE STEPS D-Tech Awards. 
• 100+ Exhibitions – What’s better than hearing from the best innovators the world has to offer? Witnessing those innovations firsthand. At Echelon Asia Summit 2023, we are showcasing over a hundred exhibitors who will be demonstrating their products and services to Echelon attendees — the perfect event for innovative startups to dazzle the crowd.
  
  Meet Asia’s top companies and growing startups to discover new solutions, potential partners, and investment opportunities.

Don’t miss the chance to take part in Echelon Asia Summit 2023 

While there are different ways to achieve business success, Echelon Asia Summit is offering six ways you can start that journey. Focusing on the subjects of sustainability and profitability, the team behind Echelon Asia Summit 2023 is doubling down its efforts in order to provide the tech startup ecosystem with the best possible experience for its participants.

Also read: UNL: Driving business success with new-generation micro-location mapping

Echelon Asia Summit 2023 is also going to zoom in on six key themes and tracks for startup founders to explore. Namely, Web 3.0, Soonicorns and Future Change Makers of Southeast Asia, Future Sectors and Investment Trends, Investments and M&A, Sustainability growth and climate, as well as Growth and Scaling. All of these and more are waiting for you at this year’s Echelon so be sure to drop by!

To learn more about Echelon Asia Summit 2023 and sign up for the event, visit the official page here.

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‘Why is 3D content creation still challenging, time-consuming and expensive, even in this technologically advanced era?’

This question troubled CJ Looi, who loved animations and art in video games, when pursuing his career in robotics, 3D, and computer vision.

He discussed this with Cyril Nie, his friend who shared a similar passion and decided to develop a solution.

That’s how PixCap was born.

The startup was launched by the duo in Singapore in January 2022. Looi previously held computer vision and graphics roles at Shenzhen-based robotics company Dorabot. Nie, an MSc in Computer Science from University College London, worked as a software engineer building cloud-native apps.

PixCap is an online platform to empower anyone to find, create and export 3D designs in minutes.

In other words, it lets users tap on 3D assets and templates, from simple to professional, and access everything through a browser-based interface.

World is moving from 2D to 3D

Globally, the transition from 2D to 3D has been very prominent in the past two years. Major consumer e-commerce and tech brands increasingly incorporate 3D elements into their logos, ads and landing pages to better engage their users and stand out.

However, editing in 3D is challenging as it requires deep expertise and domain knowledge, which many designers lack. Eventually, they choose to create in 2D, limiting their creativity and design potential.

Also Read: Into the metaverse: When Web3 and virtual worlds collide

“With PixCap, marketers, designers, and everyday users like you and I can create beautiful 3D designs in minutes using simple, curated templates,” CEO Looi shared.

Currently, many designers are choosing to create 3D visuals with alternative common stock platforms. However, these are uneditable and have shorter longevity when brands need to update colours, lighting, shadows, and camera angles to align with brand guidelines.

PixCap is intuitive and easy to use, allowing designers to choose from thousands of templates. “They can simply drag and drop 3D assets, edit colours, lighting, shadows, adjust camera angles and more to create a beautiful 3D design in minutes,” he explains.

From graphic design, UI/UX design, and animating virtual worlds and avatars for the metaverse to marketing, everyone can create unique designs with PixCap, Looi claims.

The platform’s free version includes features such as video export, image, or GIF (watermark) and export in GLTF and FBX. Users can also access its creative library and make real-time comments with their project partners.

With the Pro Plan, starting from US$9 per month, users can access everything in the free plan plus exporting without a watermark and access to premium 3D models and animation.

Eyeing global market

PixCap targets global brands, marketers and graphic designers, UI/UX designers, and 2D and 3D illustrators with its platform. “These individuals are usually interested in 3D and want to learn and try it. More often than not, the steep learning curve and time constraints inhibit them from pursuing it further,” he adds.

The firm has won over 30,000 users across the US, India, the UK and Southeast Asia.

According to Looi, the startup is constantly looking for new ways to improve its products to fulfil the needs of marketers and designers today.

PixCap recently bagged US$2.8 million in seed funding led by Sequoia Capital India and Southeast Asia’s Surge. The capital will allow it to expand its engineering and marketing teams and invest in product development and community building as it expands globally.

“We are expanding our engineering teams to bring in better-looking 3D models, scenes and animations. We are also building an extensive library and community to showcase creative work by PixCap’s users. By doing so, we hope to cultivate a group of 3D design enthusiasts that will inspire one another to push the boundaries of creativity,” he notes.

“Ultimately, we want to become the Canva for 3D designs,” he concludes.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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