As internet use integrates deeper into daily life, organisations such as nonprofits must adapt to capitalise on its transformative power. Globally, 54% of donors now prefer online giving, a trend that has seen significant growth year over year. In 2020, online donations surged by 21%, marking a 32% increase over the past three years.

The benefits of online fundraising are compelling: it saves resources, enhances donor relationships, and expands outreach, enabling broad participation in charitable missions. Leveraging digital platforms and social media, fundraisers can efficiently raise funds and amplify their impact. This efficiency is evident in the substantial 40% growth in online donations observed in recent years. Real-time updates on campaign progress further engage donors, fostering transparency and trust throughout the donation journey.

For nonprofits, embracing online fundraising isn’t just about keeping pace; it’s about harnessing digital tools to drive meaningful change and sustainability in their missions. Adapting to these trends not only increases operational efficiency but also broadens the reach and impact of their charitable endeavours in an increasingly connected world.

Kitabisa’s journey: Bridging the gap in the online donations space

Recognising the importance of online donation and the lack of a reliable online donation platform in Indonesia, Kitabisa (meaning “We Can”) was founded in 2013 in Jakarta to bridge this gap and connect people with causes they care about.

With a mission to create a kinder world, by enabling you to channel kindness at scale, Kitabisa has experienced remarkable growth, it has evolved into an impactful ecosystem enabler, amassing a user base of over 10 million users, collectively raising over 850 billion Indonesian Rupiah (US $52 million) annually for more than 1,000,000 campaigns, 3500+ NGOs and social institutions, and 400 CSR initiatives, supporting a wide array of social causes.

Also read: Asia’s climate tech: Communicating solutions and avoiding greenwashing

The platform empowers individuals, communities, non-profits, and companies to raise funds by creating personalised fundraising pages for various social, personal, and creative endeavours, fostering a culture of giving and community support across Indonesia.

In its early days, Kitabisa focused on building a reliable and user-friendly platform that would simplify the process of fundraising and donating for social, personal, and creative endeavours. To stay on this path and serve as a bridge for goodness and a forum for mutual cooperation for the Indonesian people, it seeks to encourage users to donate more via the app, through personalised and data-driven engagement.

Challenges faced by Kitabisa: User activation and retention

As Kitabisa grows, it has achieved significant milestones and has become Indonesia’s largest and most trusted donation platform. However, this growth was not without its challenges. One major hurdle was user activation and onboarding. Many users struggled with the initial steps of registration and understanding how to use the platform effectively. This was compounded by the difficulty of implementing marketing automation at scale, which is crucial for maintaining user engagement and encouraging repeat usage.

Additionally, Kitabisa faced struggles with user retention, experiencing high drop-off rates after app installation. Statistics revealed that over 50% of users did not proceed to register or pledge after their first launch of the app. This highlighted the importance of the first-time user experience (FTUE) in determining app success.

To address these challenges, a seamless and engaging FTUE is essential for retaining users and ensuring they understand the value of the platform, ultimately leading to higher registration and pledge rates.

Harnessing CleverTap’s solutions to overcome challenges

Founded in 2013, CleverTap is an all-in-one customer engagement platform that unifies people, processes, and technology. Designed for real-time scalability, it helps businesses convert customers into lifelong patrons through in-moment experiences. CleverTap provides analytics to understand user behaviour, segmentation tools, and automated marketing campaigns for personalised interactions. Leveraging machine learning and predictive analytics, CleverTap enhances user engagement, retention, and long-term customer loyalty.

Also read: Travel made easy with azgo: Making your journeys smarter

Implementing CleverTap’s solutions, Kitabisa utilises analytics features such as funnels and cohorts to understand user journeys, identify friction points, and track churn trends. This data-driven approach enhances marketing campaigns by creating actionable segments and delivering relevant messages across preferred channels, such as in-app notifications for new users.

By leveraging CleverTap’s Journeys, Kitabisa orchestrates omnichannel marketing campaigns at scale, eliminating the need for extensive coding and reducing reliance on the development team.

This strategic use of segmentation improves campaign relevance and click-through rates (CTR), ultimately boosting week-over-week retention rates and increasing the lifetime value (LTV) of users. Funnels provide insights into user behaviour throughout the donation process, while cohort analysis informs effective win-back campaigns, ensuring that Kitabisa maximises engagement and support for social causes.

Kitabisa’s success with CleverTap

Kitabisa’s adoption of CleverTap has become one of the biggest factors in helping the company yield significant outcomes, including increased user engagement, retention, and lifetime value (LTV). Specific success metrics include a 33% rise in the median number of donations per user, a 10% increase in average click-through rates (CTR) for push and in-app notifications, and a 5% boost in user stickiness. These achievements underscore CleverTap’s impact in enhancing Kitabisa’s operational effectiveness and fostering sustained growth.

Looking ahead, Kitabisa is poised to capitalise on further growth opportunities, encouraging other tech startup entrepreneurs to harness similar solutions to drive their success in the competitive digital landscape.

Also read: Echelon Philippines opens growth opportunities in the Philippines and beyond

“CleverTap has enabled us to take an integrated approach whereby we can track user interactions and tap insights to better understand user behaviour. This equips us to deliver prompt nudges and highly relevant communication across various channels, based on the user’s behaviour. Further, we are even able to predict future intent and tailor our communication appropriately,” shared Denny Yusuf, Product Lead at Kitabisa.

Tech startup entrepreneurs can explore CleverTap’s transformative solutions to propel their ventures by visiting their official site.

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This article is produced by the e27 team, sponsored by CleverTap

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

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Fintech funding in Southeast Asia significantly declined in the first half of 2024, making it the least funded half-year in the past three years, reveals a Tracxn report.

The highest half-yearly funding was recorded in H2 2021, after which it significantly dropped, thanks mainly to the current macroeconomic conditions and geopolitical issues.

According to Tracxn’s Geo Semi-Annual Report: SEA FinTech H1 2024, fintech companies in Southeast Asia secured a total of US$899 million in H1 2024, which is 25 per cent lower than the US$1.2 billion raised in H1 2023 and 31 per cent lower than the US$1.3 billion in H2 2023.

Also Read: SEA startups raised US$371M across 42 rounds in March: Tracxn report

This downward move was driven by declines in seed and late-stage investments.

Late-stage investments fell 47 per cent to US$338 million in H1 2024 from US$632 million in H1 2023. Seed-stage investments stood at US$42.5 million in H1 2024, a 53 per cent decrease from US$90 million in H1 2023.

However, early-stage funding rose 17 per cent to US$519 million in H1 2024 from US$443 million in H1 2023.

Only two US$100 million+ rounds were reported in H1 2024, as against four each in H1 2023 and H2 2023: ANEXT Bank’s US$148 million Series D round and GuildFi’s US$140 million Series A round.

Investment tech, alternative lending, and banking tech are the top-performing segments based on funding in the H1 2024 fintech sector.

The investment tech segment secured US$216 million in H1 2024, an increase of 666 per cent compared with the US$28.2 million in the first six months of 2023.

The alternative lending segment raised US$206 million in H1 2024, a drop of 59 per cent compared with US$502 million raised in H1 2023.

Banking tech companies raised US$186 million in H1 2024, a growth of 59 per cent from the US$117 million raised in H1 2023.

No fintech companies went public in the first six months of 2024. However, the number of acquisitions increased– to 16 in H1 2024 from 11 in H1 2023 and 13 in H2 2023.

Also Read: Top 10 startup investment deals in June in Southeast Asia

Singapore dominated the fintech funding scene, accounting for more than half of the total investments. Fintech companies in the city-state raised US$518 million in H1 2024, while those based in Bangkok and Jakarta raised US$140 million and US$128 million, respectively.

East Ventures, Y Combinator, and 500 Global are the all-time top investors in this space. Antler, Hashed, and AppWorks were the top investors in seed-stage rounds in H1 2024, while MassMutual Ventures, Illuminate Financial, and Nyca Partners were the top early-stage investors. MUFG Innovation Partners and NewView Capital were the top investors in late-stage rounds during the period.

Despite certain challenges, significant optimism exists for this region’s long-term growth. Factors such as the young population, large consumer base, reliance on informal financial and commercial systems, and government initiatives are expected to accelerate growth in this region.

The post Southeast Asia’s fintech funding hits a 3-year-low in H1 2024 appeared first on e27.

Dear reader,

The first half of 2024 witnessed a significant decline in fintech funding across Southeast Asia, reaching its lowest point in three years, as per a Tracxn report.

Total funding dropped to US$899 million, a 25% decrease from H1 2023. The macroeconomic and geopolitical challenges led to a sharp decline in seed and late-stage investments, with late-stage funding plummeting by 47% and seed-stage investments falling by 53%.

However, early-stage funding saw a 17% increase, indicating sustained investor interest in emerging ventures. Notably, investment tech surged by 666%, raising US$216 million, while banking tech funding grew by 59%.

Singapore remained the dominant hub, attracting over half of the total investments. Despite no fintech IPOs, the number of acquisitions rose to 16, reflecting ongoing industry consolidation.

Top investors like East Ventures and Y Combinator continue to play a crucial role.

Looking ahead, the region’s young population, extensive consumer base, and supportive government initiatives are poised to drive long-term fintech growth despite current setbacks.

Sainul,
Editor.

—

NEWS

Fintech funding in Southeast Asia hits a 3-year-low in H1 2024
The highest half-yearly fintech funding was recorded in H2 2021, after which it significantly dropped, thanks to the current macroeconomic conditions and geopolitical issues.

Ninja Van slashes more tech roles in second round of layoffs
A source said that the headcount in all tech departments would be slashed; This is the Singapore-based logistics startup’s second round of layoffs following an internal review; In April, the company laid off about 10% of its tech division.

Indian social network Koo is shutting down as buyout talks collapse
Despite securing over US$60M in funding from Accel, Tiger Global, etc., Koo faced significant challenges in expanding its user base and generating revenue over the past two years; Koo positioned itself as a competitor to Elon Musk’s X.

Investing GIC funds ‘not the solution’ to boost SG equity market: minister
This would compromise the government’s intention in setting up the sovereign wealth fund, said Chee Hong Tat, Singapore’s second minister for finance; This will not benefit Singapore and Singaporeans.

Meta plans to bring generative AI to metaverse games
According to a job listing, Meta is seeking to research and prototype “new consumer experiences” with new types of gameplay driven by generative AI, like games that “change every time you play them” and follow “non-deterministic” paths.

Bitcoin slides to four-month lows, ether sinks 8%
Bitcoin is on course for its worst weekly performance in a year, hurt by uncertainty over whether Joe Biden will remain the Democrats’s US presidential candidate and by worries about potential increases in crypto supply.

China’s BYD opens EV factory in Thailand, first in Southeast Asia
The BYD plant is part of a wave of investment worth more than $1.44 billion from Chinese EV makers who are setting up factories in Thailand, helped by government subsidies and tax incentives.

Spenmo parent launches new brand after rocky 2023
‘Summit’ offers two products for clients: a vendor invoice management tool and an employee expense management solution; Summit will be another name under Digital Services SG Five, marking the company’s new multibrand approach.

TASConnect acquires B2B marketplace SOLV’s Malaysia, Vietnam units
The deals will enable TASConnect and the SOLVs to provide end-to-end supply chain financing solutions to multinational corporation anchor ecosystems, SMEs, and financing partners. In addition, the mergers will offer synergies in costs and operations.

ESB gets funding from LX Ventures, SAIC Capital to develop EV infrastructure
ESB is a clean energy company focused on providing infrastructure for EVs players in Indonesia; Through its subsidiary PT Volta Indonesia Semesta, ESB manufactures electric motorcycles under the brand name Volta.

Petronas subsidiary partners with Virta to expand EV charging network in SEA
Over 2.4K charging points are already available in the region with a target to onboard another 2K points by the end of 2024.

Singapore, Jakarta continue to climb top startup ecosystem ranking
The Singapore startup ecosystem created US$144 billion in ecosystem value from July 2021 to December 2023, according to the new report.

Google: AI products, solutions to contribute US$146B to Singapore’s economy by 2030
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Agri Sparta partners with national rice agency to empower rice farmers in Indonesia
The agritech firm will provide high-quality inputs and provide modern farming services, such as transplanters, precision input via agricultural drones, and combined harvesters.

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AI at work: Moving forward with employee engagement
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Asia’s climate tech: Communicating solutions and avoiding greenwashing
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Revolutionising domestic payments: MAS’s pilot program for wholesale CBDCs
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Funding your startup journey: A step-by-step guide to VC rounds
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Tokens 101: How they work and where they provide value
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How Futurise supports tech innovation in Malaysia through policy-making
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‘GovTech Edu wants to become a thinking partner of Indonesian government, not a feature factory’
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Book Excerpt: How I survived an elevator pitch session with Tim Draper
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The post Ecosystem Roundup: Fintech investments down in H1 2024 | Ninja Van slashes more jobs | Koo is shutting down appeared first on e27.

Singapore-based SAFVR, a provider of workplace safety training for organisations using advanced technologies, has secured US$125,000 in pre-seed funding from global early-stage investor Antler.

The startup, which claims to have grown to US$1 million in revenue, will use the fresh capital to launch a new pilot programme, expand its customer base, and form strategic partnerships to accelerate product development and market penetration.

Also Read: Can co-working spaces change Malaysia’s work habits?

SAFVR offers mobile gamified training and advanced VR hazard simulations to engage employees and boost safety protocol retention.

By merging innovative technology with training methods, SAFVR empowers organisations to create safer work environments and reduce incidents. At the heart of its offering are immersive training modules designed to enhance knowledge retention and practical skills. The platform goes beyond just training; it integrates streamlined incident reporting through AI technology and provides detailed learning analytics.

The company’s EHS (environment, health, and safety) reporting and compliance platform ensures that organisations adhere to global standards, such as OHSAS 18001 and ISO 45001, which are benchmarks for occupational health and safety management systems.

Also Read: Navigating the future of work: How upskilling shapes tomorrow’s leaders

The startup has collaborated with prominent entities, such as the European Parliament, the Ministry of Transport of Germany, the Ministry of Health of Italy, and the Aditya Birla Group.

—

Image Credit: SAFVR.

The post SAFVR bags funding from Antler to create safer work environment using AI, VR appeared first on e27.

Taiwan-based WhatsApp conversational sales platform Cooby has closed a US$1.75 million seed funding round.

The investors are Shilling VC (Europe), Peak XV’s Surge, and Pear VC. Cooby was part of Surge’s sixth cohort.

Also Read: Transforming commerce: The promising future of conversational interfaces

“This funding will enable us to enhance our platform and continue innovating to develop tools that help sales teams boost their current CRMs to nurture close customer relationships. We want to target the recruitment sector, among others, in Europe and Latin America, helping them stay ahead of the curve and enhancing their competitive advantage,” said Wen Shaw, CEO and co-founder of Cooby.

The new round brings the startup’s total investment raised to date to US$4.75 million.

Cooby aims to fill a gap in the current CRM toolkit for sales teams and empower them worldwide to use WhatsApp for customer outreach. Through a unified interface, it enables them to drive shorter sales cycles and foster more hyper-personalised interactions at scale.

The platform integrates directly with major CRMs like HubSpot and Salesforce and other commonly used productivity tools like Zapier and Webhook, enabling teams to communicate at scale through an organised WhatsApp inbox.

Also Read: How Bangkok Bank worked with Pand.ai to develop a conversational AI engine to better service customers

Teams can also collaborate through Cooby Workspace for data flow, information, and feedback.

Since its launch in late 2022, Cooby claims to have served over 600 customers across 15-plus countries and has expanded sixfold over the past 18 months.

—

Image Credit: Cooby.

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