Oneteam, a Singapore-based startup focused on transforming succession at small and medium-sized enterprises (SMEs) through employee ownership, has raised SGD 3.5 million (US$2.6 million) in seed funding.

Wavemaker Ventures, the early-stage fund of Wavemaker Partners, led the round.

Also Read: From admin headache to AI-driven insights: How Earlybird AI empowers SME founders

About 70 per cent of the funding will be used to acquire small businesses, while the remaining funds will be used to build a strong core team and infrastructure to provide shared services for its portfolio. Key business functions such as finance, human resources and talent recruitment, branding and marketing, IT, and legal, which can be expensive for small businesses, will be provided from the company’s headquarters in the island nation.

Oneteam addresses the lack of succession planning in Singapore’s SME sector, where businesses make up over 99 per cent of the country’s enterprises and employ more than 70 per cent of its workforce. As many business owners reach retirement age, they face uncertain futures because they lack an exit strategy and a clear succession plan.

Oneteam’s solution involves acquiring businesses from retiring owners and gradually transitioning them into employee-owned entities. This approach safeguards the businesses’ long-term value and fosters a strong sense of ownership, purpose, and productivity among employees.

Oneteam’s support extends beyond acquisitions. The company provides a holistic support system, including growth capital, leadership development, and access to a network of business partners and digital solutions, to help companies scale efficiently and adopt modern technologies.

Also Read: How are Singapore SMEs taking a proactive stance towards sustainability?

“We believe the future of SMEs lies in the hands of their employees,” said Kevin Boo, CEO and co-founder of Oneteam. “By offering a path to ownership for next generation, hardworking employees, we’re aligning incentives, preserving valuable services for our communities, and ensuring these businesses continue to thrive. In doing so, we’re also contributing to Singapore’s broader goal of elevating our SMEs, the backbone of our economy.”

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Atome Financial, a leading Southeast Asian digital financial services platform owned and operated by Singapore-based Advance Intelligence Group, has secured a syndicated credit facility worth up to US$200 million.

HSBC led this round through its ASEAN Growth Fund. DBS Bank, the Singapore branch of Sumitomo Mitsui Banking Corporation and Brunei’s Baiduri Bank also participated in the facility.

Also Read: Atome secures debt funding from EvolutionX to expand credit portfolio, launch new products

The funding will primarily be used to expand the fintech firm’s existing profitable portfolio and products, with a focus on lending and the Atome (Pay Later Anywhere) Card across critical Southeast Asian markets.

“We look forward to HSBC, and our other partners, continuing to support our capital needs and launch of new and innovative personal finance products in key markets like Singapore, Malaysia and the Philippines,” said Andy Tan, Chief Commercial Officer at Atome Financial.

Launched in December 2019, Atome is a digital platform that provides consumers across the region with flexible deferred payments through its mobile app. It also offers digital consumer loans in Indonesia through the Kredit Pintar mobile app.

The startup claims to have achieved a robust financial performance in recent years; its operating income in FY2023 nearly doubled, reaching US$170 million, compared to US$88 million in the previous year.

It also claims it processed almost US$1.5 billion in gross merchandise volume (GMV) in 2023, reflecting a 40 per cent year-on-year increase. The buy-now-pay-later business achieved profitability, driven by a remarkable 130 per cent surge in revenue.

In the first quarter of 2024, the company achieved EBITDA positivity.

“Through this support, Atome Financial will bring about greater financial inclusion by extending access to affordable and responsible personal finance solutions to more consumers from across Southeast Asia,” said Priya Kini, Head of Commercial Banking at HSBC Singapore.

Previously, Atome Financial secured a three-year term facility of up to US$100 million from EvolutionX Debt Capital and other investors in June 2024. Last year, it announced a US$100 million debt facility with HSBC Singapore to expand its services in the Philippine market and develop new consumer financing products.

Also Read: How BNPL can provide lower-income households with new opportunities

Atome also counts SoftBank Vision Fund 2, Warburg Pincus, Northstar, and EDBI among its backers.

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As major players continue to invest in Malaysia, the nation is fast becoming a key player in the data centre arena, with Johor Bahru in the south of the country already recognised as Southeast Asia’s fastest-growing data centre market. As strongly telegraphed by the Malaysian government, there is no mistaking the ambition to transform Malaysia into a high-tech industrialised nation as part of New Industrial Master Plan 2030 (NIMP 2030).

However, data centres aren’t standalone infrastructures. Seizing this opportunity will require a focused effort on solidifying a bedrock of cybersecurity, cloud and connectivity services, and overall capacity and continuity – areas in which leading players across the private sector technology ecosystem can collaborate to accelerate Malaysia’s agenda.

Cybersecurity is everyone’s responsibility

Cybersecurity is non-negotiable when it comes to Malaysia’s ambitions to become a tech hub in an AI-driven world. According to Orange Cyberdefense data, cybersecurity threats will only increase – its latest Cy-Xplorer report revealed that cyber extortion had impacted 75 per cent of all countries since 2020 and 118 countries in the last year alone. As the threat and risk landscape evolves, data centre hubs must have a cybersecurity strategy, approach, and posture as their primary line of defence.

Similarly, tenants who store their servers and data within the infrastructure are also responsible for implementing their own cybersecurity solutions. In response to the escalating threat of ransomware and cyber extortion, one notable initiative that has gained traction in recent years is the Counter Ransomware Initiative (CRI), a multinational effort aimed at disrupting ransomware operations and dismantling cybercriminal networks.

The CRI brings together governments, law enforcement agencies, cybersecurity experts, and industry partners to coordinate and share information on ransomware threats and trends. The success of such initiatives hinges on nations’ willingness to collaborate and share intelligence and resources in the fight against cybercrime.

Taking inspiration from this, technology leaders in Malaysia have a crucial role in engaging with a synergistic nationwide platform. By collaborating with industry and government, they can swiftly and regularly share information and respond to data breaches, while also implementing proactive measures to protect corporate data, IT networks, and assets.

Strong cybersecurity is essential to Malaysia’s ambition of becoming a high-tech hub, as it safeguards critical infrastructure, economic stability, national security, and consumer trust. In this context, technology players can establish a robust foundation to support the nation’s technological and economic aspirations.

Also Read: Digital health: Malaysia leads in powering ASEAN’s transformation

Cloud and connectivity

Data centres play a central role in providing seamless connectivity and global content access to businesses. This connectivity is a critical enabler of innovation and data exchange across various sectors, driving growth and diversification within the economy. As a result, the stakes are high, and the margin for error is exceedingly thin – as businesses increase their number of communication points, the importance of keeping those communications with rapid connectivity and speed becomes even more critical.

Malaysia must therefore ensure that its connectivity reliability and uptime standards are among the highest, eliminating any possibility of latency. With the right technology and systems in place, the country can stand out as a reliable and efficient hub for technology, attracting greater business investment than its regional competitors.

Capacity and business continuity

Capacity, in the context of data centres, encompasses not just the physical number of racks but also the availability and scalability of power supply to support current and future demand. Water is another critical component as data centres require it to manage infrastructure temperatures of and prevent hardware overheating, necessitating 100 per cent uptime for cooling systems.

While space in Malaysia could be arguably abundant, the requirements for power and water resources to operate new data centres are substantial – hence any of such constraints require consideration and planning for continuity and contingency.

Ensuring operational continuity as a data centre hub hinge on several key factors: providing the host country with infrastructure support for the data centre and for the high-tech sector to ensure superior operating reliability, high-quality service, real-time visibility into operations, rapid communication, and seamless access.

Furthermore, the high-tech sector is governed by strict international standards and regulations regarding uptime, data management, and disaster recovery. Technology players must step forward to support Malaysia in delivering on the capacity and continuity strategy needed to meet these standards.

Delivering on a shared ambition

Malaysia’s data centre expansion can help to spearhead its ICT growth and attract more companies to setup their offices locally. Apart from the technology, bringing together a public-private sector partnership to deliver on a shared ambition, and leveraging support from expert service providers, will be crucial to accelerate the nation’s ambition.

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In the past decade, the use of AI has become a prominent feature in business software and is now being used by marketers to widen the gap between businesses in today’s highly competitive landscape.

One of the biggest competitive advantages enterprises tend to have over SMEs is resources. Smaller businesses often lack the financial support and manpower needed to make a real dent in the market.

Thanks to the democratisation of software, artificial intelligence tools have a key role in levelling the playing field, helping small businesses reduce manual work, automate processes and improve efficiencies.

The results speak for themselves, with 52 per cent of marketers experiencing an increase in sales, and another 51 per cent noticing an increase in customer retention since introducing AI capabilities into the ecosystem, according to a Forbes report. 

Knowing how to best integrate AI into your digital marketing strategy can feel overwhelming, yet it’s a far more seamless process than many realise. Here, we share how SMEs can use AI to amplify marketing efforts to drive customer engagement and brand awareness.

Up the ante on online ads

When it comes to online ads, AI is the superpower all SMEs should have up their sleeves for three key reasons: to optimise ad spend, create compelling content and drive innovative campaigns. AI is being used by marketers to help determine how much budget should be invested in brand campaigns, with 70 per cent of marketers planning to make a significant increase on their AI spend in the next three years.

By constantly monitoring different channels and tracking how campaigns are performing, AI systems can help strategise the optimal cost, timing and platform for brand advertising. 

Also Read: How will AI help marketing strategies in 2020

AI also has the power to support targeted campaigns by analysing data about your core audience demographic, including their interests, preferences and keyword searches.

This data can then be leveraged to run digital campaigns and help to expose your business to other consumers who are similar to the target audience. 

Create compelling content without a copywriter

When it comes to driving traffic to your website, content is of critical importance. SMEs can engage customers from the very first interaction and maintain engagement through compelling content that appeals to the audience. 

AI is increasingly being used to create written pieces, including ad copy, blogs, articles and captions. Notably, Facebook and Instagram have AI-enabled tools that not only help marketers develop ads, but also suggest alternative variations to help diversify content.

Time scarcity is a challenge faced by many SMEs so if you’re a small marketing team or sole trader wearing many operational hats, turning to AI for copywriting will help put some time back in your diary and allow you to focus on other areas of business growth and development. 

Many businesses are now delegating copywriting needs to marketing platforms with AI capabilities to create optimised and targeted content.

This not only saves businesses significant time on developing copy but can help to inform what content will have a better response and engagement rate, generating greater results. 

Update your email marketing strategy

Email is dead, right? No way. Email is the bread and butter of SME marketing and is a great, cost-effective touchpoint to keep consumers actively engaged with your brand. But in a world filled with marketing emails, how can SMEs ensure comms like e-newsletters are securing the interest of customers? With the help of AI.

Thanks to AI, email marketing has become more powerful than ever through improved conversions, personalisation, automation and data analysis. AI can analyse a brand’s historic emails to identify the top-performing subject lines based on opens and click-through-rates, which can help marketers optimise in future. 

After all, the best email in the world won’t be noticed if nobody opens it, and with 40 per cent of consumers deciding whether or not to open an email based on the subject line, an AI-informed subject line can help to cut through the clutter.

Likewise, if you consider the top three reasons why people unsubscribe from emails are the volume; irrelevant content; and not recognising the brand, using AI can help SMEs stand out in an overcrowded market (and inbox).

Also Read: What you need to know about digital marketing for the new normal

By turning contextual real-time data from social and digital advertising channels into easy to understand insights and recommendations, AI can take the guesswork out of marketing to help businesses that don’t have large or experienced marketing teams.

Half of all small businesses fail within the first two years, and marketing, or a lack of effective marketing, is often one of the key reasons why.

Be tactical and work together with AI-powered technology to make sure your startup isn’t adding to the statistics.

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This article was first published on April 15, 2021

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One thing is becoming crystal clear — payments is not only getting easier, but how money moves across borders is fundamentally changing (well, two things really).

And if you’re an avid traveller, you know just how game-changing that could be.

I recently had the privilege of witnessing the future of travel payments unfold at the Singapore Fintech Festival — from Monetary Authority of Singapore officials shaping regional payment policies, to Visa executives reimagining 50-year-old payment systems, to ambitious fintech upstarts like YouTrip transforming how we spend abroad — the energy was electric.

The consensus was clear: travel and finance are colliding in ways that will transform how we explore the world.

Convergence of travel and fintech

When was the last time you caught yourself planning your next trip? That familiar rush of excitement as you browse destinations, check flights and dream about new adventures. Now, imagine all of that enthusiasm paired with cutting-edge financial technology.

This isn’t just theoretical—just look at what happened when Booking.com brought in Daniel Marovitz, Deutsche Bank’s youngest board member at the time. They didn’t just want a finance expert; they wanted someone and a whole function to reimagine how financial services could transform travel.

The goal? To improve credit lines and financial offerings to their partners.

The result? About three to five per cent boost to their bottom line.

What’s even more fascinating is that Booking.com could potentially become a lender to hotels—after all, they have all the data on occupancy rates, booking patterns, and seasonal trends.

Think about it: every traveler is essentially the perfect fintech customer.

From booking flights to splitting bills with travel buddies, from shopping at local markets to managing leftover foreign currency—each journey is packed with financial touchpoints. And that’s exactly why this convergence makes so much sense.

Look at companies like YouTrip, often called the “Revolut of Asia.” They started with a laser focus on travel payments—positioning themselves where the highest and most frequent use cases are. It’s a brilliant strategy: build trust through everyday travel transactions, gather valuable behavioural data, then expand into insurance, loyalty programs, and more based on real customer needs.

Transformative potential of connecting instant payment systems across regions

The future of travel payments isn’t just about making things digital—it’s about making them seamless across borders.

Enter the ambitious Nexus scheme, set to launch in 2027, which will connect the ASEAN five (the region’s five largest economies) with India—home to the world’s largest real-time payments system. This isn’t just another payment network; it’s a game-changer for how money moves across Asia.

But let’s be honest: with this transformation comes some serious challenges. On one side, we need innovation that keeps pace with traveler demands. On the other, we need proper oversight to keep everything secure.

Also Read: Elevating travel experiences: The power of value-added services

The consensus seems to be that private sector innovation leads the way, but it needs to be balanced with smart regulation.

Success requires three key ingredients:

• A governance framework that blends public policy goals with private sector agility
• Cost structures that work for both users and businesses
• High standards that don’t shut out innovative startups

The biggest challenge? Making sure enough people actually use these new systems.

If the volumes don’t materialise, existing industry players will be forced to compete, potentially fragmenting the market further.

Defining new commerce across borders: Payments interoperability and benefits

Here’s the reality of today’s payment landscape: it’s fragmented, complex, and often frustrating for travellers. We’re seeing multiple rails, from traditional cards to QR codes, from touch-and-go wallets to mobile payments. Each works great in its home market, but cross-border? That’s where things get messy.

Take Japan, for instance—a highly developed economy where many merchants still haven’t adopted credit cards or QR codes. It’s a perfect example of how even advanced markets can have significant room for payment innovation.

But change is coming. Look at what’s happening in Southeast Asia—governments are driving real innovation with new payment schemes and QR codes that work across borders. They’re creating systems that let more merchants participate and building bridges between public and private sectors. Imagine using your local e-wallet’s QR code to pay at a night market in Bangkok or a cafe in Singapore—that’s the future being built right now.

The key to making this work? Collaboration.

We’re seeing issuers, merchants, and governments working together not just on technology, but on promoting these new payment methods. After all, what good is a brilliant payment system if travellers don’t know they can use it?

The Visa POV for new innovations

Fun fact: we’re still using the same 16-digit card system that was designed 50 years ago. That’s right—in an age of quantum computing and artificial intelligence, we’re still punching in strings of numbers like it’s 1973.

And in Southeast Asia, where e-commerce already accounts for 50 per cent of payment volume (with cards handling half of that), this analog-era relic is starting to show its age.

Think about your typical online purchase: you’re redirected outside the merchant’s site to your bank, carefully typing in your card number, CVV, expiration date—a process that takes an average of two minutes and 20 seconds.

Why? Because we still can’t fully trust every single website.

In fact, we’ve normalised this friction in the name of security.

Visa’s vision tears up this 50-year-old playbook. Instead of juggling different 16-digit numbers for debit cards, credit cards, and pay-later services, imagine having a single, secure credential. Behind the scenes, Visa handles the complexity while you simply choose your preferred funding source. It’s about time, isn’t it?

Also Read: From mining engineer to travel tech visionary: Darryl Han transforms trip discovery

But here’s where things get really interesting: Asia Pacific has become ground zero for digital wallets. They’re proliferating “like there’s no tomorrow,” becoming the dominant form of payment across multiple geographies.

However, these wallets face a crucial challenge: bridging the international gap. How do you maintain that seamless home-market experience when your customers travel overseas?

And there’s a critical caveat we need to discuss: the rise of real-time payments, while convenient, comes with a serious catch—they’re irrevocable. Once you send that money, there’s no taking it back. It’s a feature that scammers have exploited to devastating effect. In Singapore alone, real-time payment scams resulted in approximately 600 million in losses just last year. And experts believe the real figure might be double that, as many victims are too embarrassed to report their losses.

Looking ahead

The convergence of travel and fintech isn’t just another industry trend—it’s fundamentally changing how we explore the world. The winners in this space won’t just be the ones with the coolest technology; they’ll be the ones who truly understand what travellers need and want.

As someone watching this space closely, I’m convinced we’re just at the beginning. The next few years will be crucial as these systems mature and evolve.

Keep an eye on this space—it’s where some of the most exciting innovations in both travel and finance are going to emerge. After all, when you combine the thrill of travel with the power of modern fintech, the possibilities are endless.

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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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