Atome cuts staff in Indonesia BNPL, P2P divisions
The company has now undergone at least two rounds of layoffs, with the first hitting employees in Indonesia in late August; The staff cuts come as the firm has nearly tripled its profits and doubled its revenues in FY2021.
FinAccel seeks to raise up to US$135M in Series D
It has so far raised US$94M in Series D from Square Peg, Jungle Ventures, Mirae Asset, among others; The overall funding round could be larger; In 2019, it raised US$90M from Square Peg, Telkomsel, MDI Ventures, and others.
eFishery secures US$32M loan from DBS Indonesia to support expansion move
The funding will support the expansion of eFishery’s business and improve its quality and productivity to increase its production and scope by 300 per cent going forward.
Indonesian MSME enabler Wahyoo locks in US$6.5M Series B
The investors include NH Absolute Return Partners, Intudo Ventures, Evowood, Nitto Prima Ventura, Global Brain, East Ventures, and Indogen Capital; Wahyoo provides digitalization services for MSMEs in the food and beverage sector.
Vietnam’s Marathon Education raises 7-figure USD seed capital
Investors include Vulcan Capital, DSG Consumer Partners, and Goodwater Capital; Marathon Education provides live interactive cohort-based classes in large- or small-class format to K-12 students in Vietnam.
Sharia fintech firm Alami closes pre-Series B funding
The investors are East Ventures’ Growth Fund, AC Ventures, Quona Capital, and FEBE Ventures; Alami has disbursed more than US$200M in funds to date; It maintains a non-performing financing rate of zero as of last month.
SG’s klikit raises US$2M to bridge restaurants and creator economy
Lead investors are Global Founders Capital and Wavemaker Partners; The food delivery software startup will use the funds to help restaurants across Southeast Asia grow their business with more efficient food delivery.
Apeiron Bioenergy raises funding from Proterra Investment
Apeiron collects food and agricultural waste, including used cooking oil, tallow, and palm oil mill effluent, and converts them into biodiesel. So far, it has collected 500M+ litres of food waste for conversion.
Crypto.com lays off 2K employees, dials marketing efforts back
It is about 30-40% of the crypto exchange’s total workforce; About 60% of the employees hit by the layoffs came from non-corporate, back office, and support services.
Crypto.com tags recent mass layoff reports as ‘inaccurate’
‘Any media reports of ongoing job reductions are inaccurate, as are additional estimates and rumours around the total number of reductions’, a company spokesperson told Tech in Asia.
Social tokens will be the engine of Web3 from fanbases to incentivisation
The crypto world is going through a transformative chapter that is bound to revolutionise how the internet works and how online communities interact, and social tokens are at the heart of the latest inflective developments.
Huobi acquired by Tron Protocol founder Justin Sun
While the acquisition was made by Hong Kong-based asset management company About Capital Management’s M&A acquisitions fund, Sun was reportedly the core investor; The shares involved in the acquisition belonged to Huobi co-founder Leon Li.
SG Web3 payments firm Suberra nets US$2.7M in funding
The investors include Spartan Capital, Hashed, and DeFiance Capital; Suberra develops a payment platform for businesses to accept automated recurring subscriptions, one-time crypto payments, and credit card payments.
Singapore music festival to launch NFT collection
Hype Records’s Hypeworld Cosmos Access NFT collection will be made up of 600 NFTs on the Ethereum blockchain; The collection will provide holders with event-specific perks and unique experiences, including VIP access.
‘Resistance to digital wealth management has almost disappeared in SEA’
CEO Bambu Ned Phillips says the firm, which raised US$10M co-led by Franklin Templeton in 2019, is getting closer to profitability, which is its goal for now.
Failure makes you wiser in your next attempt: Endowus CPO Vinod Raman
Vinod Raman looks at the important ingredients in his work life while leading the product management team at Endowus.
The evolution of early-stage investing and fundraising in SEA
Echelon 2022: Times have changed, and Southeast Asian startups must arm themselves with new fundraising techniques to woo investors.
To voice AI or not – The changing face of customer experience
To remain competitive and relevant in an increasingly digital world, it is necessary for brands to stay open to the immense potential of voice technology.
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Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon.
Here’s the full list of the speakers for the 2022 edition, which will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here.
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