The Art of Adaptation: Lessons from Paymongo’s Journey Through a Competitive Fintech Landscape

Echelon Philippines 2024 united startup leaders, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia to support the region’s fastest-growing tech market and drive meaningful economic progress.

As part of the tech conference’s fireside chat titled ‘The Art of Adaptation: Lessons from Paymongo’s Journey Through a Competitive Fintech Landscape’, Jojo Malolos, Chief Executive Officer of PayMongo, discussed the company’s transformation from a payment aggregator to a comprehensive financial services provider. The session was moderated by Arthur Adrian Lopez, Co-Founder of Brainsparks and COO and Co-Founder of NextPay.

Key discussion points included:

• Strategic adaptation: Insights into how Paymongo has navigated evolving market conditions and competitive pressures in the fintech sector, including business model pivots and product refinement.
• Customer-centric innovation: An exploration of the innovative solutions implemented by Paymongo to address customer needs and enhance user experience, highlighting the role of customer feedback in driving success.
• Growth strategies: Examination of the strategies employed by Paymongo to scale operations, tackle regulatory challenges, forge partnerships, and leverage technology for a competitive edge.

Also Read: Julian Cua of BCG at Echelon Philippines 2024: Understanding Filipinos’ daily challenges to drive meaningful innovation

Since joining in February 2023, Malolos inherited a flat-growth company with 245 employees and US$31 million in Series B funding. He streamlined the workforce to 140, prioritising higher-margin products such as electronic money and lending. Under his leadership, PayMongo’s profits tripled, extending its runway to 24 months.

Key strategies involved adapting products based on market feedback and making decisive operational changes. Despite initial hurdles, including union issues and low staff morale, Jojo underscored the significance of strategic direction and execution for achieving success.

To gain a complete understanding of Paymongo’s journey and insights shared during the chat, watch the video above.

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Missed Echelon Philippines this year? You can now catch the recorded sessions on demand, showcasing insights from leading startup experts, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia, all geared toward driving the next phase of growth. And stay tuned—more videos are coming soon!

Watch Echelon Philippines and ECX here.

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The events industry has been under scrutiny for its negative environmental impact. Still, with the rising awareness of the need to reduce carbon emissions and protect the planet, there is a growing demand for sustainable events.

Going green has become a top priority for an increasing number of guests and hosts, indicating that sustainability is not just a passing trend. In 2019, only six per cent of respondents believed that environmental responsibility had a significant impact on their events, while in 2020, this number increased to 59 per cent.

I go to multiple events a year, such as Echelon in Singapore to Tokyo Game Show in Japan, so I may actually be part of the growing problem. While I have a part to play, the impact or the ability to drive change might lie with the organisers.

Event planners in Asia have an opportunity to take the lead in implementing sustainable practices, which have been laid out quite well with Gevme’s sustainability manifesto. By adhering to this manifesto, planners can minimise the environmental impact of their events and reduce their carbon footprint.

Gevme’s sustainability manifesto is a framework that event planners can use to create sustainable events. It provides guidelines and best practices for reducing waste, conserving energy, and promoting social responsibility.

By implementing these sustainable practices, event planners can improve the environmental impact of their events and create a positive impact on the communities they serve. This approach also aligns with the global movement towards sustainability, demonstrating that Asia’s event industry is committed to positively impacting the planet.

Acting on scientific evidence and data

Acting on scientific evidence and data is crucial to achieving sustainability goals. To this end, event planners should set science-based targets to track and reduce carbon emissions. 

Also Read: Planning a trip: Is the future of sustainable travel in the metaverse?

By grounding their work in accurate data and scientific evidence, event planners can make informed decisions that will positively impact the environment. This includes adopting innovative technologies that are more energy-efficient, promoting renewable energy sources, and adopting sustainable transportation practices. 

Taking responsibility for carbon emissions

According to a recent study, international conferences contribute to a carbon footprint from travel that exceeds 2,000 tonnes of greenhouse gases. On average, each participant generates between 500 and 1,500 kg CO₂ equivalent per round-trip to a conference. Thus, taking responsibility for carbon emissions is another critical aspect of sustainability. 

Planners should aim to cut emissions by more than half by 2030 and remove more carbon than they emit each year. This helps the environment and sends a strong message to attendees that the event industry is taking sustainability seriously. Additionally, event planners should consider offsetting their carbon emissions by investing in renewable energy projects or reforestation initiatives. 

Transparency and accountability

Transparency and accountability are essential for making progress towards sustainability. Event planners should publish annual environmental sustainability reports that provide transparency on their progress. 

By adhering to global reporting standards, event planners can ensure their efforts align with industry best practices. This will enable them to measure their performance and track progress over time. Furthermore, it will enable them to benchmark their performance against their peers, identify areas for improvement, and share best practices. 

Advocating for sustainability in the industry and policies

Advocating for sustainability in the industry and policies is another critical step in advancing sustainability. Event planners should support new guidelines, standards, and public policy initiatives accelerating carbon emissions reduction and removal opportunities. This includes advocating for renewable energy targets, promoting sustainable transportation options, and supporting green infrastructure investments.

Also Read: How climate tech companies in Asia measure the impact of their work

Supporting event organisers and exhibitors to go green

Supporting event organisers and exhibitors to go green is also crucial in advancing sustainability. Event planners should develop and share educational materials and digital technologies to help organisers and exhibitors measure and reduce their carbon footprints.

This can include providing guidance on sustainable food and beverage options, promoting waste reduction and recycling practices, and supporting the use of sustainable materials in booth design. 

Educating event attendees on sustainability

Educating event attendees on sustainability is perhaps the most impactful step in advancing sustainability. Event planners should develop and deploy digital tools that encourage people attending events to make sustainable choices. This can include providing information on sustainable transportation options, promoting sustainable food choices, and encouraging attendees to offset their carbon emissions. 

Engaging the team in this mission

Engaging the team on this mission is key to advancing sustainability. Event planners should provide opportunities to innovate by developing enhanced methodologies, processes, and digital tools. This includes encouraging employees to share ideas and best practices, investing in employee training and development, and fostering a culture of sustainability within the organisation. 

By engaging the team on this mission, event planners can create a culture of sustainability that inspires creativity and innovation and contributes to a more sustainable future.

Towards a sustainable future

By adopting a holistic approach that encompasses scientific evidence and data, carbon emissions reduction and removal, transparency and accountability, advocacy for sustainability, support for event organisers and exhibitors, education of event attendees, and team engagement, event planners can create a culture of sustainability that extends beyond their events and into the broader community.

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This article was first published on May 26, 2023

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Singapore-based Supermom is Southeast Asia’s leading parenting data platform. It empowers parents to learn from a deep and highly engaged community of peers while also offering “key opinion moms” extra income by promoting brands on their social channels.

In parallel, Supermom arms global consumer brands with troves of proprietary consumer data that, until recently, could not be found elsewhere.    

Launched in 2022, and with early backing from AC Ventures, today it shows impressive credentials with over 100 brand partners and a 100 per cent retention rate of top clients. With more than three million profiled moms across over 6,000 private community groups, it is poised for a projected 100 per cent growth in 2024. As a hub for influential moms and brands, Supermom is reshaping parenting trends and solutions across the region.

The chief influencers

The company’s CEO Luke Lim recently joined an episode of the Indonesia Digital Deconstructed podcast to discuss the outlook on Southeast Asia’s parenting sector and how his company is retaining all of its large, multinational clients, including the likes of Unilever, Nestlé, Johnson & Johnson, Kimberly Clark, and others.

“Let me start by posing a simple question: In most families, who do you think influences the majority of purchases? When I survey families, about 90 per cent consistently identify women as the primary decision-makers,” explained Lim. “Globally, the statistic is approximately 85 per cent. Women are key in determining household purchasing choices. This significant influence of women is fundamental to Supermom’s business model.”

“Now, for the second part: If moms wield such influence at home, guess where they get their cues from? You guessed it—other moms,” added Lim with a smile. “This highlights just how crucial the community aspect is. Statistically, 80 per cent to 85 per cent of their purchases are swayed by their social connections.”

Extra income for parents

Supermom’s thousands of private community groups help moms and parents share information and learn from one another at various stages of their journeys. The platform leverages this baked-in social dynamic, subsequently empowering mothers to become micro-entrepreneurs in their own right.

Also Read: AC Ventures aims to drive positive societal change, economic impact in SEA

Supermom community members can earn supplementary income by endorsing products on their public-facing social channels. By quickly tapping into and mobilising the communities on its platform, Supermom can offer brands rapid content generation, deploying thousands of moms to produce user-generated content that gives brands timely and relevant insights across Southeast Asia.

Lim added, jokingly, “I can trigger a community of over 6,000 members to start posting publicly about your brand. Who knows? Maybe it will get famous overnight.”

Priceless data for brands

One of the keys to Supermom’s success is its community-centric approach to brand service. By letting mothers rank brands across 16 different categories and answer internal surveys and polls about products and the problems parents need solutions for, Supermom not only engages its user base but also strengthens relationships with top clients. It offers the Unilevers of the world priceless colour and first-party consumer data from Southeast Asia that simply cannot be sourced elsewhere. 

Looking forward, Lim is enthusiastic about the prospects of expanding Supermom’s influence and operations in Southeast Asia. Speaking to the user journey, he envisions a platform integrated into the lives of Southeast Asian parents to the point where they will keep coming back to learn and earn continuously – regardless of whether they’re pregnant for the first time, or already raising a family with kids of various ages. 

Lim said, “In the next five to ten years, we aim to engage at least 20 per cent to 30 per cent of Southeast Asia’s parenting community. Our goal is not just for families to have heard of Supermom, but for them to actively use our platform. It’s pretty simple, but that’s our vision for the long term.”

Get the full episode on Spotify and Apple.

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The global energy landscape is undergoing a significant transformation, with an increasing focus on sustainability and a drive to transition away from fossil fuels. As we stand at the precipice of this energy transition, the choices we make today will shape the future of our planet.

The opportunities for powering our world are expanding rapidly, with renewable energy sources such as solar and wind leading the way. Additionally, alternative sources like hydrogen and nuclear fission are showing great promise in the pursuit of a cleaner, more sustainable energy landscape. 

In this article, we will explore the possibilities and challenges associated with the energy transition, taking a closer look at the innovations that are driving change and the obstacles that must be overcome.

The current energy landscape

According to statistics released by the International Energy Agency, 80.9 per cent of global energy came from fossil fuels, 9.4 per cent from biofuels and waste, 5.0 per cent from nuclear energy, 2.5 per cent from hydro energy, and the remaining 2.2 per cent from other sources in 2019.

Today’s landscape is largely characterised by its over-reliance on fossil fuels which have detrimental impacts on the environment. Alternative sources of cleaner energy, such as solar, wind and hydrogen, are being increasingly adopted. Yet, the extent of technological advancement needed to effectively facilitate the transition is still nowhere in sight. 

Challenges 

Environmental degradation

The combustion of fossil fuels such as coal, oil and natural gas causes large amounts of greenhouse gases to be released into the atmosphere, trapping heat and causing global temperatures to rise. This leads to climate change, resulting in rising sea levels, unpredictable precipitation problems and extreme weather events.

The combustion of fossil fuels also releases a variety of pollutants into the atmosphere, including sulphur dioxide and nitrogen oxides. These gases contribute to smog and can cause respiratory problems. They can also react with rainwater to form acid rain, which can corrode buildings, destroy marine life and damage ecosystems.

Energy security

The Russia-Ukraine war has worsened the global energy crisis. Supply-chain disruptions from one of the world’s major oil suppliers, Russia, this has, in turn, driving up energy prices. This increases the number of households unable to afford energy – especially those in developing countries. 

Also Read: The key to tackling climate change: Electrify shipping

Furthermore, due to political tensions, Russia has cut gas flows to the EU by 80 per cent between May and October 2022. This has caused a significant shortage in the EU’s energy mix. This highlights the over-reliance on major fuel-exporting countries, making the diversification towards alternative or domestic sources of energy a pressing need.

Affordability

The main reason why sustainable sources still remain relatively more expensive today is the sheer cost of infrastructure required to build solar farms and wind farms. When produced on a large scale, these costs can add up quickly. This makes sustainable energy sources more expensive than traditional ones.

As a result, it poses a significant barrier to the large-scale adoption of sustainable energy sources, as many countries and businesses tend to prioritise cost savings at the expense of the environment. 

Recent innovations and developments

Alternative sources 

Nuclear fission is a process in which the nucleus of an atom is split into two or smaller nuclei, releasing a large amount of energy in the form of heat and radiation. This process is the basis of nuclear power plants, which use the heat generated by nuclear fission to produce steam, which in turn drives turbines to generate electricity.

Advantages:

• Clean source of energy that does not generate greenhouse gases such as carbon dioxide.
• It also reduces our dependency on fossil fuels, which are finite resources that exacerbates climate change. 

Gaps:

• Nuclear produces radioactive waste, which must be carefully stored and disposed of.
• Safety concerns associated with nuclear power plants, particularly in the event of a nuclear accident, which can release dangerous levels of radiation.

Hydrogen Fuel is produced by chemically reacting hydrogen gas with oxygen to create water. This process releases energy that can be harnessed to power fuel cells and generate electricity directly. 

Advantages: 

• It produces no harmful emissions when burned. In fact, the only byproduct of hydrogen fuel is water vapour, making it an extremely clean source. 
• Hydrogen fuel can be produced from a variety of sources, including water, natural gas, and biomass, making it a versatile and sustainable fuel option.

Gaps:

• Difficulty in storage and transport; requires specialised equipment and infrastructure to handle safely. 
• The production of hydrogen fuel can be energy-intensive, which can limit its overall sustainability.

Energy storage and distribution

Battery storage

Energy storage is the capture of energy produced at one time for use at a later time. The aim is to reduce imbalances between energy demand and energy production. Recently, there have been innovative solutions for battery recycling, driving a more sustainable energy landscape.

Also Read: How Ampotech helps energy, facilities managers improve the performance of their buildings

For example, NEU Battery Materials, a startup from the HyperScale accelerator programme created a way to recycle lithium batteries using a clean and sustainable electrochemical and produce battery-grade materials. This solution addresses the sustainable redox targeting battery recycling issue.

Microgrids

A microgrid is a small-scale electrical grid that can operate independently or in conjunction with the main power grid. It typically includes distributed energy resources such as solar panels, wind turbines, battery storage, and backup generators, which can generate and store electricity locally.

Microgrids are designed to provide reliable and resilient power to specific communities, facilities, or regions. They are often used in areas that are prone to power outages or that are far from the main power grid, such as remote communities, military bases, or hospitals.

The energy transition

Supply-chain concerns

There are several challenges in the large-scale adoption of alternative energy. It must be cheap, abundant, clean, safe, easy to transport, and sustainable. To build resilience and reduce the geopolitical risk of energy insecurity, each country should self-sustain and bring the supply chain to its own backyards.

Energy systems

Today, our predominant energy system is centred around natural gas. In the future, however, multiple systems of energy storage and distribution are foreseen. This includes electricity imports, hydrogen networks, combustion technology and infrastructure, etc. 

With the proliferation of alternative energy such as solar, thermal and nuclear, there is an increasing need to design an integrated system that is robust, resilient and reliable – perhaps one that is co-reliant. 

The role of accelerators in shaping the future 

Accelerator programmes drive innovation and expedite the transition of the current energy landscape into a more sustainable one. Startups benefit from active guidance from industry professionals, access to resources, connections with investors, collaborations, and a structured framework for innovation. 

With potential funding, startups with innovative solutions tackling real-world problems are empowered to conduct further research and development and upscale their ideas to revolutionise the energy landscape. 

PETRONAS FutureTech 3.0 accelerator programme

One of the initiatives driving innovation within the energy space is PETRONAS FutureTech 3.0, powered by StartupX, which was launched on 23 Feb 2023.

The programme focuses on five verticals: Future of Energy and Mobility, Sustainability, Future of Industry and Work, Future of Chemicals and Material, and Frontier Technology.

Find out more here: https://petronasft.thestartupx.com 

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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

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

This article was first published on April 3, 2023

The post On the precipice of energy transition appeared first on e27.

As we advance into the age of technology, the transformative power of innovation continues to reshape industries, economies, and societies. Each technological leap—from the steam engine to the internet—has catalysed change, redefining how we live, travel, and connect.

In the early industrial era, inventions like trains and airplanes revolutionised transportation, while breakthroughs in communication, such as the telegraph, bridged distant parts of the world. These developments paved the way for globalisation, fostering economic growth and interconnectivity.

Fast forward to the 21st century: the dot-com boom and the rise of the internet have accelerated globalisation, allowing businesses to scale rapidly across borders. Today, we find ourselves on the brink of the AI revolution, where emerging technologies are creating unprecedented opportunities for innovation and disruption.

Why Indonesia? The window of opportunity

While developed markets have integrated technology as a commodity, Indonesia—the largest economy in Southeast Asia—stands at a pivotal juncture. The nation is undergoing rapid digital transformation, positioning technology as a key driver of economic growth. With its developing technological infrastructure and one of the world’s largest young populations, Indonesia presents fertile ground for both emerging and established players to make a meaningful impact.

The government’s EMAS 2045 initiative serves as a strategic roadmap for Indonesia to become a sovereign, advanced, fair, and prosperous nation by 2045, offering significant opportunities to harness this potential.

Despite its nascent tech ecosystem, Indonesia is ripe for innovation and growth. Major players like Gojek, Tokopedia, and Bukalapak have garnered substantial attention, yet there remains considerable room for expansion within the mid-tier sector. This evolving landscape is particularly attractive for investment in startups poised to capitalise on the impending wave of technological advancements.

Also Read: For Indonesia’s 2nd generation unicorns, international expansion is the name of the game

This is where InvestIdea Capital Ventures, an Indonesia-based venture capital firm focused on impact investing in technology solutions that enhance livelihoods, steps in, with a strategic emphasis on assessing founders and startups rather than adopting a “spray and pray” approach, which has been key to their success.

Notably, our key portfolio companies have successfully navigated the recent tech winter, emerging even stronger in challenging conditions. For instance, Halodoc is now Indonesia’s largest healthcare, demonstrating resilience despite the pandemic and global downturns. Similarly, other portfolio companies like Bobobox and Cakap remain committed to scaling their operations, increasing their valuations while consistently gaining investor trust, showcasing the resilience and strength of our Indonesian investees.

Indonesia’s startup showcase 2024

This November, we’re hosting a Tech Startup Showcase 2024—an event designed to connect global investors with Indonesia’s next big tech disruptors. Scheduled for 29 November 2024 at Block71 Singapore, the showcase will be a hub for discovering innovative solutions that address real-world challenges and drive significant growth.

The Tech Startup Showcase offers an unparalleled opportunity for investors to meet the founders and visionaries behind some of Indonesia’s most promising startups. The event will feature live pitches, product demos, and networking opportunities designed to foster connections and explore collaborations.

Key highlights:

• Exclusive networking: Engage with top-tier founders, industry leaders, and fellow investors shaping Indonesia’s tech future.
• Live pitches and demos: Experience firsthand the cutting-edge solutions disrupting industries.
• High-potential startups: Gain early access to startups across sectors such as health tech, fintech, edutech, and more.

For more information, please visit the website here, and register for the event here.

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