Dear Pro member,

While insurtech is one of the hottest industries in Indonesia, it is facing a unique challenge in the form of insurance accessibility. While affordability is often seen as the main barrier to insurance adoption, in Indonesia it is the lack of accessibility that is hindering the growth of the insurance industry, according to Harshet Lunani, the CEO of Qoala. Despite being an important financial tool, insurance is still lagging behind other financial services in the region, such as payments and credit.

To address this issue, Lunani emphasises the need for collective efforts to create awareness and dispel misconceptions about insurance in Southeast Asia. While a single company can do its part to promote insurance, it will take a collaborative effort from the entire industry to help people understand the importance of insurance and how it can benefit them.

This insight highlights an important challenge facing insurtech startups in Southeast Asia. While the region presents significant opportunities for growth, companies need to address the unique challenges of each market they operate in. By focusing on accessibility, rather than just affordability, insurtechs can tailor their products and services to better meet the needs of their target customers, and ultimately drive greater adoption of insurance in the region.

Let’s also look at the other major developments in the startup industry in the region.

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The gist: Saison Capital rolls out new token fund to accelerate Web3 investments
The details: Saison Capital and Saison Crypto can collectively deploy US$150M, with additional support readily available from Credit Saison’s US$30B AUM; The cheque size is US$200K-US$500K per startup.

The gist: Malaysian fintech Soft Space closes US$31.5M Series B1
The investors: Southern Capital Group, transcosmos, JCB, and Hibiscus Fund
The plans: Soft Space will use the new funds to expand its global footprint and widen the customer base.

The gist: Sinar Mas subsidiary invests in growth-stage PE firm 01Fintech
The plans: 01Fintech will leverage its market insights and expertise to transform and operationalise Sinar Mas Financial’s fintech vision and ambition.

The gist: SG biotech firm SCG Cell Therapy secures US$8.1M
The investor: Smartech Investment Holdings (lead)
The product: SCG Cell Therapy primarily develops immunotherapies for infections such as hepatitis B and human papillomavirus and their associated cancers.

The gist: ChopValue scores US$7.7M to recycle chopsticks into furniture
The investors: Two unnamed high-profile technology entrepreneurs, EDC, and BDC.
The details: The ChopValue has recycled around 10 million chopsticks in Singapore alone since the opening of its first local micro-factory in 2021.

The gist: SG API firm Dozer raises US$3M funding
The investors: Surge, Gradient Ventures, January Capital
The product: Dozer offers a plug-and-play data infrastructure backend that simplifies the creation of real-time APIs.

The gist: Malaysian healthtech startup Qmed secures US$1.2M crowdfunding
The investors: Angels, the Malaysia Co-Investment Fund (MyCIF), and 1337 Ventures.
The product: Qmed Asia provides a telehealth kiosk for workplaces offering teleconsultations and remote patient monitoring run by local general practitioners.

The gist: Hybrid work becoming the status quo in SEA except in Vietnam
The details: In Vietnam, 83% of companies prefer full-time office work, while only 11 per cent favour hybrid work environment, finds a joint study conducted by Glints and Monk’s Hill Ventures.

The gist: SG’s Eleos Labs, Grab join forces to combat Web3 cyber threats
The details: GrabDefence, Grab’s anti-fraud solution, will assist Eleos Labs in deploying services that protect users from the theft of private keys, hacking of smart contracts, and misuse of ERC-20 approvals.

The gist: Thai hospitality startup Hoteliers Guru raises funding
The investor: South Korea-based Onda
The product: Hoteliers Guru offers its booking management tech to hotels and resorts across the country.

The gist: VN startup Prep scores US$1M for borderless language education
The investors: East Ventures, Cercano Management
The product: Prep equips teachers with AI-enabled exercises, videos, and personal sessions to help them form a well-rounded curriculum.

Features and authored articles

‘In ID, the problem is lack of insurance accessibility, not affordability’
Qoala Founder Harshet Lunani said although insurance is part of a financial tool, it is far behind other financial services such as payments and credit.

Fracton Ventures on why Japan is the future hotspot for Web3
Despite challenges such as the language barrier and the lack of a crypto investor ecosystem, Fracton Ventures sees great potential in Japan.

Human-machine relationships: Exploring the future and its implications for businesses
Uncover the implications of human-machine relationships for businesses and stay ahead with the latest insights and trends in the age of AI.

Exploring the evolving VC landscape: An insightful outlook on venture funding in 2023
The venture capital industry is at an exciting state right now with huge dry powder, high levels of entrepreneurship and accelerating technology innovations.

Unleashing Singapore’s smart city potential: A gateway to limitless opportunities
With plans to ensure that measures are economically sustainable, Singapore’s smart city strategies prioritise building on economic capabilities amongst the private and public sectors.

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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 connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.

The post Ecosystem Roundup: Soft Space bags US$31.5M; What is ailing Indonesian insurtech industry? appeared first on e27.

This article was first published on January 6, 2015.

When you’re starting a business as a young entrepreneur, it seems like there are an infinite number of tasks to juggle. That’s why it’s so important to stay on top of the details, no matter how tiny or tedious. Small changes, like reducing the amount of time you spend each day managing email or your remote team, can quickly add up, meaning you can spend your time growing your business instead of your to-do list.

Managing time wasters
One of the most insidious time sucks in the modern workplace is at your fingertips every day, and worse, it’s legitimately work-related. Ask almost anyone what they spend the most time on while at work, and the answer is bound to be email. Email is the basis of communication in the 21st century workforce. Why not make sure you’re being as efficient as possible when you’re doing something so important?

Also Read: Taipei’s Jessyfrup is boosting customer retention rates for local businesses

Professional email etiquette is just as crucial as efficiency, and it’s more than just good manners; it’s good management. For instance, knowing how to start and end a professional email takes a lot of the guesswork out of communicating with co-workers, clients and customers. A professional greeting lets the recipient know that the topic is business, and a cordial and appropriate sign-off can eliminate the need for unnecessary responses as well as the need to go back and read them.

Knowing when to CC or BCC someone can also go a long way in saving time on email distribution. Create folders to keep all emails of a certain type together, and regularly archive emails that you have handled but that still contain information you may need to refer to later. Email search will also save you tons of time when tracking down old emails, so make regular use of this feature even if your inbox is completely organised.

Checking your email the right way can also help keep you on task. A good way to do this is to set aside certain points of the day to check your email, and check it at only those times — if that’s realistic for your situation. Try setting your email program to only check for messages at your decided times if self-control isn’t enough to keep you from clicking that envelope.

Developing good habits
Structuring your day and managing your workflow are the two pillars of any successful productivity strategy. Tasks should be outlined at the beginning of every day or at the end of the previous day, and nobody in the office should ever be unsure of what they are supposed to be doing. Setting productivity goals at the start of each day gives both you and your employees concrete objectives to work toward instead of an endless procession of menial tasks.

Also Read: Real-time interactivity is changing consumer engagement with businesses

Good physical habits are often an underrated part of an entrepreneur’s success. As clichéd as it may sound, a good diet, moderate exercise and the appropriate amount of sleep will actually help you feel better and miss work less often, maximising your potential as a leader and decision-maker. Work habits are important as well, and business owners in particular must evaluate their methods on a regular basis to ensure they’re still best for the business. A clean physical and digital workspace minimises distractions and promotes clarity of mind, allowing you to focus on the task at hand.

Putting your business in the best position for success means managing your resources wisely, and time is the most valuable and irreplaceable asset a business has. Time truly is money, and making sure not to waste either in the early stages of growth can make a difference for your company.

Jeff Fernandez is the Co-founder and CEO of Grovo, a learning platform which is closing the growing digital skills gap with highly engaging, 60-second videos. Grovo’s microlearning method is the best and fastest way to learn the digital skills you need to perform better at work.

The Young Entrepreneur Council (YEC) is an invite-only organisation comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship programme that helps millions of entrepreneurs start and grow businesses.

The post The small habits that improve your business appeared first on e27.

The history of humans is a history of innovation, starting from fire and wheel to mobility and artificial intelligence.

In modern times, the world has journeyed through four distinctive phases of innovation, starting from the industrial revolution of the 1800s, followed by electricity and assembly lines in the early 1900s. The third phase started in the 1970s with electronics and computers, and now we are in phase four, industry 4.0, driven by digital technologies, artificial intelligence and robotics.

There is no doubt that the fifth phase will also commence within a few decades. Technology advancement has now become an undeniable truth, and the pace of advancement is only accelerating.

The VC landscape: There is no looking back

The innovations and afterwards the adoption and commercialisation of innovations have always required capital. Prior to the first world war, it was the domain of governments and wealthy families. The innovation of automobiles and aviation started venture capitalism which expanded significantly after the second world war.

In 1926, Daniel Guggenheim created a US$2.5 million fund to promote “the whole art and science of aeronautics and aviation”. Laurance S. Rockefeller did multiple VC-like investments during the great depression in aviation, including military aviation, which became immensely profitable during the years of the second world war.

The second world war resulted in an accelerated advance in technology, and by its end in 1945, the investor’s interest in technology-led opportunities was at an all-time high. This gave birth to the modern venture capital industry eventually, when the electronics revolution arrived, the VC industry was all set to bankroll it.

Between 1968 and 1975, VC firms invested US$747 million, which increased to US$1 billion in a single year in 1980 and US$3.9 billion in a single year in 1987. In 2021, the global VC investment reached US$681 billion.

Although it declined in 2022, it was still at US$445 billion. The electronics and computer-led innovations were built through VC funding, and the digital and robotics revolution of current times is also being built through VC funding.

It is critical to understand this history before looking at the yearly landscape of VC funding. Venture capital and innovation are highly correlated and may also be called synonymous. The VC investment numbers in one particular year may go up or down, but structurally the pace of innovations has never been so fast in human history and therefore venture capital investments are also set to continue soaring.

Given the unhindered march of technology innovation, the current challenges driven by high inflation, increasing interest rates and geopolitical uncertainty may cause a short-term investment deacceleration, but in no way can it result in the reversal of a trend that is extremely structural and ingrained in the civilisational level.

As far as 2022 goes, it was a year of stabilisation after the trailblazer year of 2021. The global VC funding remained in the range of US$300, US$320 billion between 2018 and 2022, and then it soared to US$ 681 billion in 2021.

The US$445 billion global VC investment size of 2022 was still significantly higher than any of the years prior to 2021, confirming that the investment trendline remains in a significant upward trajectory. The VC industry is also sitting at a record-high dry powder of US$580 billion and continues to raise new capital of more than US$150 billion. Just to put this in context, this dry powder is like what VCs had at the beginning of 2021.

Singapore continues to remain extremely resilient, even in the wake of the global decline in 2022. Singapore has been ranked seventh in Global Innovation Index, and this has improved in the recent ranking. It is a major innovation hub, and it is consistently increasing its share of VC investments.

The total VC funding in Singapore in 2021 increased to US$11.3 billion from just US$4.1 billion in 2020, and in 2022, the VC funding again clocked a value of US$11 billion, almost like in 2021. Singapore’s focus on creating the best-in-class ecosystem for startups, especially in deep tech, will continue to result in relatively higher growth in comparison to the world.

AI and the future

In the recent past, the top technologies which have attracted the highest amount of VC funding include fintech, mobility tech, e-commerce, health tech, cloud infrastructure and clean tech. The fintech revolution across the world is still being catapulted by VC investments along with mobility and e-commerce, and these top three areas have accounted for more than 70 per cent of total VC investments in the recent past.

But now, the attention is shifting to newer areas as well, especially the application of artificial intelligence, machine learning, robotics and blockchains across industries. In terms of industries, healthcare and green energy are likely to increase their relative share vis – a – vis fintech mobility and e-commerce. The new investments in 2023 are likely to catapult health tech and green energy into the top three.

Today, the technology advancement has brought us to a stage where we have a credible chance to solve our biggest challenges, such as food availability, universal access to healthcare, climate change and disaster relief. The venture capital investments are likely to also mirror the efforts to solve these long-standing problems and increasing investments in health tech and green energy is a testimony of that.

Developing technologies to reduce carbon emissions across industries is another frontier that is likely to be scaled through VC funding. There is also likely to be higher capital allocation to solve agricultural production and supply chain challenges which are termed agritech and supply tech. So overall, this portfolio shift is likely to start in 2023 and accelerate in the coming years.

Final thoughts

The venture capital industry is at an exciting state right now with huge dry powder, high levels of entrepreneurship and accelerating technology innovations. We expect 2023 and this decade to be the most impactful in terms of innovations, and venture capital will play an extremely critical role in not only enabling the innovations but also ensuring the adoption of such innovations, solving problems, and increasing our standards of living.

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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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The post Exploring the evolving VC landscape: An insightful outlook on venture funding in 2023 appeared first on e27.

Soft Space, a fintech-as-a-service company in Malaysia, has completed its Series B extension round at US$31.5 million led by Southern Capital Group.

Returning investor transcosmos, strategic investor JCB, and Hibiscus Fund (jointly managed by RHL Ventures and South Korea’s KB Investment) also participated.

“Building on our strong momentum, the new funds will help expand our global footprint and widen our customer base by accelerating the innovation of our full-stack payments platform while expanding into next-generation technological solutions,” said Soft Space CEO Joel Tay.

“Our company is in a unique position in the global fintech industry, serving global giants from Malaysia and expanding our services into new markets by still basing ourselves in SEA. We are already in many markets for example in Australia, Europe, the Americas and Japan. As we are strategically invested by our Japanese investors, we would like to partner with them in countries where they find value,” said Chris Leong, Chief Strategy Officer of Soft Space.

Also Read: Japan’s JCB injects US$5M into Malaysian fintech firm Soft Space

Founded in 2012, Soft Space simplifies the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. The startup claims over 70 financial institutions and partners across 23 global markets are adopting its payment solutions, including in Japan, Europe, Oceania, and Americas.

The Kuala Lumpur-headquartered firm claims its revenue almost doubled in the last two years.

It is also supported by MDEC’s Global Acceleration and Innovative Network (GAIN) programme and received financial support through MIDA’s Domestic Investment Strategic Fund in 2022.

In January last year, the fintech company announced a strategic partnership with Japan’s international payment brand JCB Co. As part of that deal, JCB injected US$5 million into Soft Space.

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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 connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.

The post Malaysian fintech-as-a-service firm Soft Space closes US$31.5M Series B1 round appeared first on e27.

This article was originally published on January 9, 2015.

TSG Consumer Partners’ Senior Managing Director Hadley Mullin shared his magic steps to effectively raise funding for your startup and foster its expansion onward. He averred that the best time to start fundraising is when you have yet to find the necessity of doing so.

When money is the last thing founders look to think about, they tend to make much wiser and more rational calls. In contrast, those who are desperately in need of money tend to make rushy decisions, which result in a less engaging proposal for investors.

Here are Mullin’s strategies:

Don’t underestimate the power of networking
It’s just normal to see founders focusing too much on their own business and putting networking activity as the least priority on their list. This is what Mullin damned. He encouraged entrepreneurs to regard networking as one of the most important agendas, as experienced businessmen are fond of establishing the next generations.

Also Read: Time to quit spreadsheets for tracking biz leads? ClinchPad says yes

“They tend to give efficient directions. You need information and perspectives, and experts are the perfect sources,” he mentioned.

Start investing in talents from the very beginning
In Mullin’s opinion, a common mistake found among the founders is being reluctant to spend big on talents from the very beginning. They tend to hire less skilled employees to save more and spend less.

Whereas, he claimed that it is fundamental to have a solid team right from the start, thus hiring skilled employees and experts. Yes, it is expensive, but it will smoothen the startup’s pitching activities in the future. “When we evaluate your startup, we will have a view of your team. If you have reputable experts among the team, we’ll be more likely to invest.”

Always have a list of potential ideal partners
Running a business requires loads of flowing capital. Don’t hesitate, as Mullin ensured that there are countless money and selection of investors out there today.

Mullin suggested that finding investors is not enough. It’s much better to include them in the team as board members to create a solid bond, making them willing to share their time, skills, and knowledge. Thus, he is of the belief that it’s wiser to approach investors who have certain expertise.

Also Read: Not a pipeline problem: Pocket Sun of SoGal Ventures warns against ‘purple-washing’ startup investment

According to him, managing the funding is much more challenging than obtaining it. Hence, he suggested that finding investors who share the same vision as you and are willing to get involved in the startup’s operational activities would be really priceless.

The post Three fundamental things that help you sealing the investment deal appeared first on e27.

Singapore-based early-stage VC firm Saison Capital has launched a token fund to accelerate Web3 investments in Southeast Asia and India.

Saison Crypto is backed by its parent Credit Saison’s nearly US$30 billion assets under management (AUM). The fund is a permanent capital entity that does not have a typical General Partner/Limited Partner structure.

“As such, the new fund has the ability to draw down on capital from Credit Saison quite flexibly. Saison Capital and Saison Crypto collectively can deploy US$150 million, with additional support readily available from Credit Saison’s US$30 billion AUM,” said Qin En Looi, Principal at Saison Capital.

Also Read: Saison Capital, Mixpanel team up to launch a product manager peer-support community

The average ticket size is between US$200,000 and US$500,000 with follow-on support throughout the portfolio company’s journey.

Saison Crypto’s first token-only investment is in the pipeline. “This builds on top of our 30 existing investments which are primarily a combination of equity and tokens,” Looi added.

Saison’s Web3 investments include BVNK, Flint, Wind, Open Eden, Binocs, and Evertas. More than 65 per cent of its Web3 deals were made in H2, 2022.

According to Chris Sirise, Founding Partner at Saison Capital, there are significant gaps in the infrastructure we need for Web3 services to mature and close the distance to mainstream adoption. Asia is poised to be a growth engine, both for local and global companies building these foundations, which is why companies are making it a priority to find the right partners who can help them successfully navigate the region.

Also Read: ‘Absolute decentralisation is unlikely to be the panacea for everything’: Chris Sirise of Saison Capital

“Saison Capital is accelerating these pathways by partnering with experienced founders and operators who take a long-term view on innovations that can happen in the space regardless of market conditions,” Sirise added.

Saison Capital is an early-stage fund (pre-seed to Series B) with a focus on emerging markets. It backs founders solving big problems, including embedded finance (non-fintech companies expanding into fintech, Web3, and e-commerce).

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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 connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.

The post Saison Capital rolls out new token fund to accelerate Web3 investments appeared first on e27.

Hybrid work is becoming the status quo in Southeast Asia, with 45 per cent of companies providing it and only 12 per cent offering remote work options to employees, finds a joint study conducted by Glints and Monk’s Hill Ventures.

While in Singapore, about 63 per cent of startups offer hybrid work and 43 per cent full-time office work. In Indonesia, it is 59 per cent (hybrid) and 33 per cent (full-time office work).

Vietnam has bucked the trend, with 83 per cent of companies offering full-time office work, while only 11 per cent favour the flexibility of hybrid work.

The Southeast Asia Startup Talent Report 2023 further finds that a flexible or hybrid work environment is equally essential as performance and annual wage supplement bonuses.

Also Read: Tech talent war in Singapore expected to continue as the job market stabilises in 2023: Report

Another key finding of the study is that the tech talent crunch still persists in the region, with tech roles remaining high in demand, earning, on average, 38 per cent more than non-tech roles. Engineering remains the most sought-after tech function, with the VP of Engineering making upwards of US$235,200 annually.

Specialised skills such as product and data are also highly attractive to employers. After engineering, talent in product and data is the highest-paid.

Singapore remains the most expensive market to hire tech talent, with engineers paid 3x higher than in Indonesia and Vietnam. Product managers are also paid 3x higher in Singapore than in Indonesia and Vietnam.

The tech talent compensation landscape started destabilising at the beginning of 2022, with the crypto bubble bursting and a wave of tech layoffs from tech giants such as Shopee, Lazada, and GoTo. The impact will continue reverberating throughout 2023 as tech startups search for ways to cut costs and extend their runway for another 12-36 months, particularly as many investors and founders expect a more challenging fundraising environment this year.

Other key findings of the report:

• Median CEO base salary grew 2.4x for those that raised US$0-5 million rounds compared to 2021 as companies raised larger rounds. More CEOs are taking greater equity dilution, likely due to the current headwinds. A 5 per cent drop in equity was seen for CEOs in the US$5-10 million funding stage compared to 2021.
• Product managers saw the most considerable salary increase, making 27 per cent more than in 2021.
• As companies focus on profitability and positive cash flow this year, the top three functions that companies prioritise hiring for in 2023 across markets are engineering, business development & sales, and marketing & PR.
• Cash still prevails over equity in the region. While 86 per cent of companies surveyed offer ESOP, on average, ESOP is only made available to one-third of their talent.

For this report, Glints and Monk’s Hill Ventures analysed over 10,000 data points for tech startup roles in Singapore, Indonesia, and Vietnam. The survey received more than 150 C-suites and founder data points.

Glints and Monk’s Hill Ventures also conducted a talent survey with over 500 tech and non-tech talent working in startups and a 2023 hiring sentiment survey with 58 startups in Singapore, Indonesia, and Vietnam. In-depth interviews were conducted with over 40 founders, VCs, and operators from Singapore, Indonesia, and Vietnam. Founders in Thailand, Malaysia, and the Philippines also contributed additional perspectives.

Also Read: Singapore faces talent crunch for engineering and product manager roles: Report

“Attracting and building high-performance teams remain top of mind for founders and their teams, particularly in a climate where they have to do more with less while achieving positive unit economics. There is still much more to do to provide the tools for employers and talent in startups to make informed decisions about their talent strategy,” said Oswald Yeo, Co-Founder and CEO of Glints.

“There has been no better time to build high-performing teams in Southeast Asia. Despite headwinds, the region is poised for growth, with tech innovations taking centre stage and investments flowing in to back this stream of sustainable growth. There is a lot of ground to cover for startups to attract and retain top talent in the current climate,” added Peng T. Ong, Co-Founder and Managing Partner of Monk’s Hill Ventures.

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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.

The post Hybrid work becoming the status quo in SEA except in Vietnam: Report appeared first on e27.

A partnership is a critical aspect of any successful endeavour, and the upcoming Echelon Asia Summit 2023 is no exception. With the Asia Pacific tech conference happening in Singapore EXPO on June 14-15, 2023, sponsors are playing a crucial role in ensuring its success.

Also read: Nurturing Asia’s next generation of entrepreneurs and innovators

Echelon Asia Summit 2023 is one of the premier events for technology professionals, bringing together experts from around the world to share knowledge and discuss the latest trends and innovations in the Southeast Asian tech startup ecosystem. This year’s conference will feature keynote speeches, panel discussions, and workshops on a wide range of topics, including artificial intelligence, blockchain, digital healthcare, and other emerging digital trends.

How these partners are helping us give you the best Echelon experience ever

Sponsors play a critical role in ensuring the success of the Echelon Asia Summit 2023 in several ways. Firstly, they provide various forms of support and coverage for the various activities and features that make the summit such an exciting and meaningful experience for attendees.

Moreover, sponsors bring their expertise and experience to the table, providing attendees with unique perks. By leveraging their networks and marketing channels, sponsors also help bridge the event to wider audiences, enabling access to valuable insights for different demographics.

Also read: 9Unicorns announces 3rd Edition of DDay on April 18th 2023!

One of the key roles of sponsors is also their presence at the actual Echelon Asia Summit. This provides attendees with the opportunity to network with them and get to know their products and services, which is an essential aspect of Echelon’s purpose as an ecosystem enabler that connects all stakeholders together. By supporting the Echelon Asia Summit 2023, founders can connect with other professionals, investors, and startups in the tech industry, forging new partnerships and collaborations that can drive business growth and success.

As such, e27 is proud to announce Sendbird as one of its sponsors for the 2023 edition of the Echelon Asia Summit!

Meet Sendbird at Echelon Asia Summit 2023!

Sendbird believes conversations are at the heart of building relationships and getting things done. The company’s global conversations platform powers over 7 Billion mobile messages and interactions every month. Industry leaders like Paymaya, Traveloka, Carousell, AirAsia, Reddit, and Paytm build with Sendbird chat, voice, video, and livestream APIs to create a differentiated user experience that improves customer retention, conversion, and satisfaction.

Headquartered in California, Sendbird is venture-backed by ICONIQ Growth, STEADFAST Capital Ventures, Tiger Global Management, Meritech Capital, Emergence Capital, Shasta Ventures, August Capital, Funders Club, World Innovation Lab, and Y Combinator.

Also read: Real-time interactivity is changing consumer engagement with businesses

“At Sendbird, our mission is to build connections in a digital world. We believe that digital doesn’t have to mean impersonal. Unfortunately, people and businesses looking to connect digitally have to make a choice between the impersonal experience served by email and plain text messages over legacy SMS systems or trusting their identity and data to a handful of messenger monopolies. The result is the connections we make digitally have become increasingly transactional and superficial. We are here to change that. By participating in Echelon this year, we look forward to companies that share the same mission as us and how Sendbird can help these businesses connect digitally in a more meaningful way,” shared Sendbird.

Join Echelon Asia Summit 2023

Get to know Sendbird and more at this year’s Echelon!

Echelon Asia Summit 2023 is happening on 14-15 June, at the Singapore Expo. Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the event enables participants to connect, network, and engage with the larger tech startup ecosystem.

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

The post Sendbird: One of the world’s biggest conversation platforms will be at Echelon! appeared first on e27.

In this episode, we are excited to welcome Jack Mardack, Co-Founder of Oyster. Oyster is a global employment platform that empowers companies to hire, pay, and care for their employees anywhere in the world. In Mardack’s career as a data-driven marketing and growth leader, he has helped broaden the global footprint of companies such as Vonage, Chartcube, and Prezi.

In this discussion, we talked about why embracing diversity is the most important lesson when building a global company, how trust is a lynchpin for distributed organisations, and WHY aligning company strategy with core values enables growth for companies such as Oyster.

Also Read: Why it’s time to hit ‘refresh’ when it comes to addressing the gender diversity gap in the IT sector

Listen, subscribe, and leave a review now on Apple, Spotify, or your favourite podcast platform.

This episode is sponsored by our partner ZEDRA. Learn more about how the ZEDRA team can support you in expanding to new markets here. ⁠

Get your copy of our Wall Street Journal Bestselling book, GLOBAL CLASS, a playbook on how to build a successful global business⁠. ⁠⁠

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This content was first published by Global Class.

Image Credit: Global Class

The post The benefits of workplace diversity you’re likely to miss, according to Oyster co-founder appeared first on e27.

The insurance penetration in Indonesia is lower than in other countries in Southeast Asia despite fairing a higher GDP per capita. This points to the problem of lack of insurance accessibility rather than affordability, according to Qoala Founder and CEO Harshet Lunani.

“Also, although insurance is part of a financial tool, it is far behind other financial services such as payments and credit. We don’t think a single company can solve this hurdle; it requires collective efforts. We believe technology is required to address this to a large extent,” the CEO said in an interview with e27 soon after announcing US$7.5 million in a Series B extension round led by responsAbility Investments AG.

Lunani also said that insurance is largely misunderstood in Southeast Asia. It is currently thought to mitigate day-to-day costs instead of long-term planning to mitigate unforeseen events that put a dent in one’s life and lifestyle. “This is why we have put a lot of emphasis on accessibility and financial literacy to achieve financial inclusion.”

Qoala has attempted to improve accessibility in two ways: first, by investing in platform partnerships, such as Traveloka, Shopee, and redBus. By doing this, more people could familiarise themselves with insurance, given that they are already familiar with such platforms.

Secondly, Qoala created new products because the insurtech startup believes that the current one might not fit the segment from a financial inclusion perspective.

Also Read: Swiss impact investor leads US$7.5M Series B+ round of insurtech firm Qoala

As for financial literacy, Qoala has invested a lot in content creation to educate the public to be more financially savvy. “Instead of using our owned media solely for promotional purposes, our social media and blogs (Indonesia and Malaysia) are curated transparently, making us a trusted financial information hub,” the Qoala CEO explained. “We will also continue deepening our relationships with insurers to address the emerging challenges for our three markets — Indonesia, Thailand and Malaysia.”

Launched in 2018 by Lunani and Tommy Martin, Qoala is an omnichannel insurtech platform that allows customers to access insurance comfortably, fairly and transparently. The firm works with insurers to develop products that have high relevancy for customers and make them financially accessible to their customers. It distributes retail insurance products to consumers for cars, bikes, homes, and health through its platform.

Qoala claims to have processed over US$30 million in claims by partnering with insurers across Indonesia, Thailand and Malaysia.

The firm plans to use the Series B extension round to improve the product experience; going deeper into the value chain will be its focus, and doing it sustainably will be the emphasis. “While expansion remains a key area, our priority will be scaling up sustainably with improved economics. If there are opportunities to enter a new geography sustainably, we will consider them,” Lunani said.

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