Legal tech has evolved in recent years, brought about by the development of more AI tools for automating and optimising various legal tasks, particularly contract analysis, document review, and, in some cases, case prediction.

But at the heart of every AI-driven solution lies the quality and accuracy of the data used to train machine learning models.  And here lies the rub: Legal tech companies often deal with unstructured documents, where the essential data points do not adhere to a predefined data model. As such, data parsing is a critical component of any legal tech’s earlier core operations.

Data parsing encompasses a range of sub-processes, including extraction, organisation, and structuring of legal data from diverse sources such as contracts, case law, and regulatory documents. By parsing data, legal tech companies can improve the efficiency and effectiveness of their machine-learning models, particularly when dealing with sparse, noisy, or variable-quality data. This enhances the signal-to-noise ratio, improving the overall quality of insights derived from the data points.

However, developing an automated data parsing system from scratch can be prohibitively expensive, time-consuming, and complex, especially for startups that have not yet achieved product-market fit. Investing in such a system prematurely can drain valuable resources and divert attention away from more critical areas of tech development.

Also Read: Legal tech platform INTELLLEX raises US$2.1M funding round led by Quest Ventures

Offshoring data parsing offers an attractive alternative that allows startups to progress towards their next milestones without heavy upfront investment in time and cost. Here’s how offshoring can benefit your startup:

• Domain knowledge incorporation: Unlike building an automated system, it is easy for your domain experts to incorporate their knowledge into the data parsing processes, building a model for more informed feature engineering decisions should you pursue automation later down the road. 
• Gradual scaling: Offshoring enables startups to start with a small piece of the data parsing process and gradually scale up as business needs and market demands evolve. This incremental approach allows for flexibility and adaptability, ensuring that resources are allocated efficiently.
• Lower to no setup cost: The initial setup costs for offshoring are typically minimal, often limited to security deposits that offshoring companies require before commencing services. These deposits are usually equivalent to one to two months of service fees, making offshoring a cost-effective option for startups with limited resources.
• Ease of protocol changes: Offshore labor offers greater flexibility in adapting to changing protocols compared to automated systems. Manual processes can be adjusted more easily to accommodate evolving requirements or new data sources, providing startups with agility in responding to market dynamics.
• Cost efficiency: Offshore labour tends to be significantly cheaper than hiring onshore resources, allowing startups to grow their teams cost-effectively. This cost efficiency enables startups to allocate resources judiciously and invest in areas that drive value and innovation.

Also Read: Pay transparency, training, AI: Understanding HR’s emerging legal risks

Overall, while machine learning models may have demonstrated early impressive capabilities in learning directly from unstructured data, data parsing in the legal tech industry remains essential in preparing the data for machine learning tasks. However, automating data parsing systems may make more financial sense in larger, more mature organisations; for early-stage startups grappling with the pressure of efficiently allocating working capital, this approach may not be as effective.

Offshoring your data parsing work can serve as your startup’s secret weapon, particularly in the early stages of your tech development. By partnering with offshoring companies such as FullSuite, you gain access to resources and benefit from their oversight of protocol and process development, alleviating the burden on your lean team and allowing you to focus on what matters most.

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Image Credit: enginakyurt, 123RF Free Images

This article was first published on March 5, 2024

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The Echelon X fireside chat titled ‘USD493M Raised, 35 Markets Conquered, 1 Growth Story: The Journey of bolttech’ offered an in-depth look into the remarkable growth journey of bolttech, a leading digital insurance and protection company.

With nearly half a billion USD raised and a presence in 35 markets, bolttech’s story is one of rapid expansion, unique innovation, and strategic foresight.

Moderated by Catherine Shu, Director of Media and Content at The PR Group, the fireside chat featured Rob Schimek, Group CEO of bolttech. Schimek shared insights into the company’s extraordinary growth trajectory, highlighting the key factors that have contributed to its success.

bolttech’s journey is defined by strategic moves and innovation in digital insurance. Schimek discussed their market expansion approach, emphasising the need to understand local dynamics and tailor products to customer needs. He highlighted their commitment to technology, enabling seamless, personalised insurance solutions.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Every year, many startups fail for multiple reasons. The most significant reason is the need for a growth strategy. According to research, 42 per cent of startups fail because there is no market for their solutions, while 29 per cent run out of cash.

Both a lack of market and cash are caused by strategic flaws. Every B2B startup needs a growth strategy to address both issues by ensuring product-market fit and revenue streams.

So, what is a growth strategy?

A startup’s growth strategy encompasses everything from idea generation to project wire-framing, identifying revenue streams, and more.

Getting the growth strategy right can help your B2B startups generate more revenue and profits. This article focuses on some of the best growth strategies B2B startups can use for their business. 

First, let’s understand why you need a growth strategy.

B2B growth strategy: Why do you need it?

B2B is different from D2C in terms of customers. B2B customers expect omni-channel engagement with on-demand solutions from their vendors. 

According to McKinsey, 78 per cent of top-tier B2B customers want performance guarantees during the sale. Similarly, there are four other key attributes that every B2B customer seeks out,

• Product availability
• Omni-channel engagement features
• Real-time customer service
• Consistent customer experience

What’s changed over the years is how tech-savvy modern B2B customers are. As a startup, you must offer on-demand solutions across channels. Here are some key strategies to achieve this and improve your B2B startup growth. 

Top B2B startup growth strategies 

An essential aspect of B2B growth is undistracted effort. You need to narrow your focus on specific growth pillars and go all in. 

However, the question that most startups face is where to focus. Here are some of the best strategies you can focus on to ensure B2B startup growth.

Shift to outbound

Most startups focus on inbound leads, leaving behind a more extensive audience section. The real growth opportunity lies in capturing the audience outside your market.

Yes! This may seem odd, but 95 per cent of the buyers who aren’t looking to make a purchase right now are your most significant opportunity! Every business has a specific bottleneck, but CEOs and CTOs often are unaware of the problem.

As a B2B startup, you need to tap into this audience. Create campaigns highlighting specific problems in these businesses’ current offerings to create a long-term cycle of leads. When you target a specific audience looking for solutions, they know the competition.

Also Read: The power of reverse marketing: How a bad review can drive massive exposure

So they will compare your services and make decisions, which leads to less lead generation. However, if you can highlight existing issues in businesses that are not looking for your services in the first place, you’ve hit the jackpot!

Take, for example, Salesforce’s “No Software” campaign. The SaaS company boldly opposed CRMs with on-premise infrastructure. To amplify the campaign, Salesforce had employees protest the streets with signboards. 

Build resource banks

Conventional B2B demand generation strategies for startups have been to acquire a net new pipeline. This strategy focuses more on the net value of new sales opportunities rather than taking a holistic approach.

Break away from this conventional approach and leverage a modern B2B growth strategy for your startups. You can build a resource bank that caters to businesses’ needs across the funnel. This growth strategy does not focus solely on new sales opportunities.

Instead, it helps attract, nurture, and convert more leads through resources across interaction points. For example, you can create content on the bottlenecks and issues of specific businesses. 

Similarly, you can provide its solutions, pitch your services, and add critical comparisons. This wholesome resource makes you the go-to brand for anything niche-specific.

Have a real omni-channel presence

Being on all digital channels is now a norm for any B2B startup. The reason is simple: Your target audience is present on multiple channels, so you need to be there.

However, it’s not just about being present in a snooze mode. Yes, you need to prioritise real connections and customer engagement across channels.

Executing bots to communicate on your behalf on such platforms can be off-putting. Instead, have your team present on omni-channel, communicating, engaging, and nurturing leads.

Make your customers self-dependent

This B2B growth strategy can confuse many startups. Because entrepreneurs may argue that if you are making them independent why will they engage with the startup?

So, the answer is self-service portals. You don’t need to make them self-reliant on the service side but on the support side. This is also important on the sales side. If you can have resources that provide answers B2B customers are looking for without interacting with your sales team, “It’s a win-win.”

Also Read: AI, personalisation, and 5 marketing activities you should be doing

According to Gartner, 72 per cent of B2B buyers want to buy without sales team interactions. This shows how making the customers self-reliant early in your interaction journey can impact conversions.

Obsess over your customers 

Obsessing your audience correctly can be a startup’s best B2B growth strategy. This means spending time researching each aspect of your audience. From profiling, account-based research, communications, and one-on-one sessions, customer obsession has no limit.

Diversifying your efforts is key to B2B growth. Have a team of researchers, data analysts, and salespeople work continuously on understanding the audience.

Knowing the target business well helps you cater to custom solutions and become their go-to partner. 

Offer on-demand flexibility

As you know by now, a key demand by B2B businesses is for on-demand services and solutions.

Most businesses need help dealing with the changing customer demand. So, providing on-demand flexibility regarding tech, infrastructure, workforce, and other resources is crucial. It will help your startup create long-term partnerships and a customer base.

Hear what your customer says

Startups can narrowly focus on customers if they spend enough time listening rather than talking. One key B2B growth strategy is to capture the Voice of Customers (VoC).

It is a systematic approach in which you hear your customers on each aspect of the problem, from how they feel about your product or services to the improvements they need. 

To ensure trust, you must be open to criticism and make quick changes. This includes ensuring security and privacy in your systems. Maintaining user data privacy during sales communication and customer services also helps build trust.

All of your security efforts must be conveyed to customers across channels. You must also get feedback on security aspects from your customers and implement quick measures. This allows your startup to gain more trust and improve conversions. 

Get your whiteboard ready

The B2B space is getting extremely crowded. With many startups building solutions catering to customers’ varying needs, you need a strategic advantage. Using these B2B growth strategies, you can gain a competitive advantage in a saturated market.

Most importantly, these B2B growth strategies allow you to tap into a broader market. Plus, you will have a holistic approach to engaging with the target customers and ensuring better lead conversions. 

However, you must analyse your target audience, market, competitors, and product before implementing the above B2B growth strategies. You should also conduct a comprehensive audit of your campaigns to ensure result-oriented efforts.

A best practice for the above strategy is to conduct A/B testing. It will help you understand the impact and fine-tune strategic efforts. 

—

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The Echelon X panel discussion titled ‘When Should Founders Exit? How Founders Can Prepare and Overcome Challenges For an Exit’ provided valuable insights into the complex decision of exiting a business.

The session featured experienced founders, investors, and exit advisors who shared their perspectives on the optimal timing for an exit, the preparation required for a successful exit, and the common challenges faced during the exit process.

Moderated by Admond Lee, Founder of The Runway Ventures, the panel included:

• Patrick Linden, Co-Founder and Managing Partner of match.asia
• Hiroyuki Kiga, General Manager of Payments at M-DAQ Global
• Jin Low, Director of Restructuring at Kroll
• Paul Hadjy, CEO and Co-Founder of Horangi

Each speaker brought a wealth of knowledge and experience to the discussion, offering practical advice and strategies for navigating the exit process and sharing valuable insights and strategies for navigating the complex decision of exiting a business.

By understanding the optimal timing, preparing thoroughly, and overcoming common challenges, founders can successfully navigate the exit process and achieve their goals. The session offered practical advice and perspectives that can help founders make informed decisions and plan for a successful exit.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Dear reader,

Cake Group and Geniebook, both Singapore-based firms, are facing significant challenges as they grapple with industry-specific downturns.

Cake Group, parent to crypto platform Bake.io, is undergoing another round of layoffs despite resolving a damaging feud between its founders. CEO Julian Hosp has emphasized the need for cost-cutting measures to achieve sustainability, following substantial revenue declines since the 2022 crypto winter.

Meanwhile, Geniebook, an edtech startup once buoyed by the online learning boom, has laid off 117 employees this year. CEO Zhizhong Neo attributes these cuts to the “funding winter” and shifting market demands, as the company refocuses on a hybrid learning strategy.

Both companies are striving for financial stability amidst challenging market conditions, with Cake Group targeting breakeven and Geniebook aiming for positive cash flows by year-end.

Sainul,
Editor.

—-

NEWS & VIEWS

Finture scores US$30M to take its consumer finance brand YUP beyond Indonesia
The investors are MindWorks Capital, XVC, SWC Global, Richen Pioneer, and Antao Capital; YUP connects users with pay-later services from licensed financial institutions while offering promotional benefits.

Cake Group slashes more jobs despite end of founders’ feud
CEO Julian Hosp acknowledged that the latest layoffs are similar to Cake Group’s decision in November 2023 to trim its headcount by 30%; However, he didn’t say how many staff would be affected this time.

Sinar Mas Land’s CVC arm invests in Lamudi Indonesia
Currently, proptech marketplace Lamudi provides services, such as omnichannel marketing solutions, for over 425 property projects; It works with over 30,000 real estate agents in the archipelago.

Conversational AI platform SleekFlow nets US$7M for global expansion, AI innovation
The investors include Atinum Investment, AEF Greater Bay Area Fund, and Transcend Capital; By integrating conversations, product catalogs, payments, and order management, SleekFlow provides a unified business platform.

DiMuto concludes US$5.9M Series A round to digitize food supply chain
The investors are The Yield Lab Asia Pacific and SiS Cloud Global Tech Fund 8; DiMuto claims to have tracked and traced millions of pieces of produce and millions of dollars of trade value on its platform.

Geniebook sheds over 100 jobs as learning goes back to school
The Singapore-based edutech firm has laid off 117 employees since the beginning of 2023; Co-founder Zhizhong Neo said the “reality of the funding winter” and changing market demands led to the job cuts.

Paytm sells movie ticketing business to Zomato for US$244M
The acquisition includes Paytm’s ticketing services for movies, sports and events. As part of the deal, Paytm’s flagship app will continue to host these offerings for up to 12 months and 280 of its employees will join Zomato.

The banks that loaned Musk US$13B to buy Twitter might be having regrets
Elon Musk borrowed US$13B from Morgan Stanley, Bank of America and five other major banks to help finance its US$44B acquisition; According to the WSJ, the deal has since become the worst merger-finance deal for banks since the 2008-2009 financial crisis.

India’s trade minister decries e-commerce growth, Amazon’s ‘predatory’ pricing
Piyush Goyal expressed concern over the rapid growth of e-commerce in the country, warning of potential disruption to small retailers; India’s $1.1 trillion retail market saw e-commerce sales of less than US$80B last year.

Joel Neoh’s First Move, Gobi Partners Affiliate back financial services firm FinKnight
FinKnight claims to have helped over 15 startups navigate complex financial landscapes, optimise operations, and achieve sustainable growth.

WatBird game developer GAMEE bags investment from Pantera Capital
GAMEE will use the funds to expand its presence on The Open Network via WatBird, which connects and onboards Telegram users to Web3 through fun, meme-inspired gameplay.

MARC, SME Bank team up to support entrepreneurs and SMEs in Malaysia
This collaboration aims to foster a thriving entrepreneurial ecosystem in Malaysia by combining MARC’s strengths in credit ratings, economic research, and data analytics with CEDAR’s expertise in business coaching and entrepreneur-focused mentoring.

Dropbox acquires Index Ventures-backed AI scheduling tool Reclaim.ai
Reclaim.ai focuses on using AI to help users better manage their time and find slots for meetings and tasks, build personal habits, and take breaks.

Microsoft’s Malaysia COO poised to lead MDEC: sources
Azizah is one of three candidates under consideration; The other two are Dzuleira Abu Bakar, the former CEO of the research agency Mranti, and Shah Sidek of the International Data Centre Authority.

FEATURES & INTERVIEWS

Antler’s Southeast Asia focus: Nurturing the next wave of AI, fintech startups
Antler co-founder Jussi Salovaara shares insights on funding trends, investment criteria, and the future of the region’s startup ecosystem.

Echelon X: AnyMind Group co-founder Otohiko Kozutsumi on the third evolution of the creator economy
The Echelon X fireside chat highlighted how AnyMind Group’s AnyTag platform is revolutionising the future of influencer marketing

After successful Vietnam, Thailand entry, PasarPolis gears up for Singapore expansion
Since expanding into Thailand and Vietnam in 2019, PasarPolis has sold millions of policies in these markets; Earlier this year, PasarPolis reported 2x revenue growth since its last funding round in 2023 and a 250% surge in Gross Written Premium.

Climate tech in the Philippines: Capitalising on emerging opportunities in the ecosystem
Climate tech startups in the Philippines are at the forefront of addressing the most urgent environmental challenges.

Echelon X: Founders’ approaches to sustainable startup growth and well-being
The Echelon X panel shared personal stories, strategies, and advice on maintaining well-being while managing startup demands.

Chocolate Finance wants to be a ‘happy place’ for Singaporeans to grow their wealth
Chocolate Finance has garnered support from investors such as Saison Capital, Peak XV Partners, Prosus, GFC, and actor Henry Golding.

FingerDance uses AI to bridge communication with deaf, hard-of-hearing communities
Operating on a B2B model, FingerDance aims to extend its reach by partnering with more organisations in the future.

ReSkills shares AI integration plan as it moves towards a NASDAQ listing
ReSkills offers users access to a vast library of classes for just US$1 per month, making education affordable and accessible.

Tapway drives SEA expansion with new vision AI platform, partnership
Tapway is poised to introduce several groundbreaking innovations in the next 12 months, focusing on advancing Vision AI technology.

THOUGHT LEADERSHIP

Navigating the Gen AI wave: A startup’s battle plan
Key strategies for entrepreneurs leveraging Gen AI, from using existing models to managing costs and mitigating misinformation risks.

How startups should pivot towards being customer-centric
How ready are businesses to adopt new ways of ensuring they’re fully customer-centric, from awareness to conversion and beyond?

Re-skilling in the age of AI and navigating the future of work in Malaysia
As modern technologies continue to impact the workforce in Malaysia, the importance of re-skilling and up-skilling cannot be overstated.

The rise of Web3 and crypto startups: Pioneering the decentralised future
The rise of Web3 and the subsequent surge in crypto startups marks an era of unprecedented innovation and transformation.

A startup founder’s guide to investment agreements
The article sets out a summary of the usual investment agreements and documents during a priced round capital raising exercise for startups.

The new era of computing: Single board computers for home automation and AI
Single-board computers (SBCs) are shifting from industrial use to mainstream hobbyist applications in home automation, personal servers, and AI.

Kuala Lumpur: The Silicon Valley of Malaysia
Kuala Lumpur, with its vibrant and dynamic environment, stands at the forefront of this transformation, attracting both local and international investors.

FROM THE ARCHIVES

Is there a sudden slowdown in the pace of digital transformation globally?
Matija Kapic of Infobip says if businesses refrain from adopting digitalisation, they will lose approximately US$145 billion of GDP growth.

15 strategies for a successful acquisition
I have completed more than 30 corporate acquisitions on both sides of the transaction. Here are the most important, hard-won lessons.

Circles.Life marketing head Delbert Ty shares their viral campaign recipes
Delbert Ty of Circles.Life explains in this article how marketers can evoke strong, visceral emotions with their campaigns.

Fundamentals of cap tables for founders
Most investors will ask for a cap table when you go to seek funding. It will determine the per-share price that will be used in the financing.

Looking beyond the surface of optimising customer experience
As the VP of marketing at PayPal, this is what I can share on how e-commerce startups can optimise their customer experience.

3 ways AI technology can help startups save money
Leveraging AI technology can drastically improve the performance of your business. This is how you can achieve it.

What you should expect from your startup mentor
Make sure your startup mentor is a pillar of support and not one who constantly disparages and puts you down.

5 incentives that can be helpful in attracting awesome employees
When it comes to employees, you can’t expect the best of the best unless you can provide suitable incentives.

Preparing your company for Southeast Asia: A strategic guide to the market
Companies looking to enter this treasure trove must devise a feasible plan that tackles the regional differences in Southeast Asia.

The post Ecosystem Roundup: Cake Group, Geniebook slash jobs | Zomato buys Paytm’s movie ticketing biz for US$244M | Finture raises US$30M appeared first on e27.

Many children find it challenging to openly express their thoughts and emotions, leading to isolation, misunderstanding, and emotional disconnect within families. This issue is especially acute for children with ADHD and autism, who often encounter additional obstacles in articulating their inner experiences, further complicating their ability to connect with their caregivers. But this is where MangaChat aims to play a role.

MangaChat is committed to bridging this communication gap, ensuring all children can authenticate themselves and maintain an open dialogue with their caregivers, including parents, therapists, and counsellors.

The platform is designed to empower children by providing a safe, fun, and accessible online journaling experience that encourages them to explore and share their inner worlds. Through this innovative approach, MangaChat aims to foster stronger emotional connections within families and support the well-being of children with diverse communication needs.

“While many online journaling tools exist, MangaChat stands out by integrating the arts, artificial intelligence, and a gamified cognitive behavioural therapy (CBT) process. This unique combination offers a holistic approach to supporting children’s mental well-being,” says Renee Chong, Co-Founder and COO, in an email to e27.

MangaChat’s product development process is highly iterative and user-centric. It begins with feedback on the initial minimum viable product (MVP) gathered from partner schools and mental institutions.

Also Read: How autism shaped my life and what I want people to know

The platform is continually refined through user surveys and insights from teachers, therapists, and counsellors, focusing on enhancing the front-end user experience and gamifying the journey to increase engagement among children.

On the backend, MangaChat’s system analyses captured data and integrates CBT with AI, delivering tailored images and messages that align with the children’s emotions and specific scenarios, thereby improving their overall engagement and communication.

“We engage with them through a B2C model by reaching out to parents, a B2B model by partnering with schools and afterschool programmes, and a B2B2C model by collaborating with counsellors and psychiatrists,” Chong says.

MangaChat currently operates on a subscription-based model. It also offers white labelling services and Software as a Service (SaaS) solutions, allowing institutions to customise the platform to meet their specific needs.

“By combining these revenue streams and strategies, MangaChat can ensure financial sustainability while providing valuable services to children, parents, and professionals. The diverse approach to monetisation allows for flexibility and resilience, adapting to market demands and user needs over time.”

Next destination

MangaChat is one of the startups nurtured under the Technology for Sustainable Social Impact (TS2) accelerator programme.

Also Read: FingerDance uses AI to bridge communication with deaf, hard-of-hearing communities

TS2, a collaborative initiative by NUS Enterprise—the entrepreneurial arm of the National University of Singapore—and the Singapore Centre for Social Enterprise, raiSE, aims to empower startups committed to creating human-centred social impact. Through this programme, MangaChat has gained crucial financial support and access to a vast ecosystem of networks, fostering connections that have been vital to its development.

Chong expresses profound gratitude for the mentorship and guidance received through TS2. The programme’s emphasis on shared experiences and community has been instrumental in their journey. She highlights the invaluable support from mentors such as Michelle Lim, CEO of M.A.D. School, and Hugh Mason, who provided critical insights and guidance that have significantly contributed to MangaChat’s growth.

“It truly takes a village to raise a child, and we experienced that firsthand through the TS2 Accelerator programme,” Chong says.

MangaChat’s founding team comprises diverse professionals with extensive experience in their respective fields. Leading the team is Founder and CEO, Sheng-Fang (Joe) Huang, who holds a Ph.D. in Computer Science and has a decade of experience as a university professor in Medical Informatics.

COO Renee Chong brings 17 years of experience as an educator and policy maker with the Ministry of Education in Singapore.

Also Read: FingerDance uses AI to bridge communication with deaf, hard-of-hearing communities

The team also includes CTO Paul Yao, a seasoned full-stack web developer with 10 years of experience, CCO Bernard Soo, who has 18 years of banking experience and previously served on the EXCO of the Singapore Fintech Association, and Dr. Chao-Hsiang Hung, a Data Scientist with a Ph.D. in Educational Psychology. The total team size currently stands at eight members.

To date, MangaChat’s funding has been raised through personal contributions from the founding team’s friends and family. As the company continues to grow, the team is actively exploring opportunities for external investment to support its future development and expansion.

Chong shares the company’s plan for 2024 and beyond: “We aim to deepen our partnerships with primary schools, afterschool centres, and mental institutions in Taiwan and Singapore. We also aim to broaden our reach to the youth segments.”

“Additionally, we will introduce MangaChat into Southeast Asian markets such as Vietnam, Indonesia, and Thailand from 2024 and beyond.”

—

Image Credit: NUS Enterprise

The post MangaChat helps children express their feelings better with AI-powered gamified CBT platform appeared first on e27.

The Philippines has emerged as one of Southeast Asia’s most dynamic and rapidly evolving startup ecosystems, driven by a unique blend of innovation, entrepreneurial spirit, and a growing digital economy.

With a population of 115 million, increasing internet penetration and the rising middle class have created fertile ground for startups across various sectors, from fintech and e-commerce to edtech and healthtech.

In 2022, local startups raised US$1.1 billion, exceeding the US$1.03 billion raised in 2021.

Fintech has been at the forefront of the Philippine startup ecosystem. E-commerce, edutech, and healthtech have grown significantly in recent years.

While the Philippine startup ecosystem is thriving, it faces challenges such as limited access to funding, regulatory hurdles, and the need for more robust infrastructure. However, these challenges are being addressed through increased government support, the rise of local venture capital firms, and the growing interest of international investors in the region.

Having said that, the future of the Philippines looks promising, with an increasing number of Filipino startups gaining traction.

Also Read: Forget the rest: This is why you should build your startup in the Philippines

We have compiled a list of the Philippines’s most exciting startups that have made their mark in their respective industries.

Kumu

A global livestreaming app made by Filipinos for Filipinos and Filipinos-at-heart.
The platform allows users to connect with fellow Filipinos around the world and watch live shows, post updates, and earn money. It also offers features like personal and group chat, games, and more. Users can also participate in quizzes, live shows, and more.

Founding year: 2107
Total funding raised: US$100 million
Investors: General Atlantic, Openspace Ventures, SIG Venture Capital, Foxmont Capital Partners, Kickstart Ventures, Summit Media, Gentree, Endeavor, Core Capital,
ABS-CBN Corporation, 10 Square Capital, Manila Angel Investors Network, Two Culture Capital, RISE, Gobi Partners, Flowing Ventures, and Communitas Founders.

PDAX

An online exchange platform for cryptocurrencies. It allows users to buy, sell, and manage cryptocurrencies and utility tokens. Supports Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

Founding year: 2017
Total funding raised: US$62.5 million
Investors: Tiger Global Management, Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, Ripple, DG Daiwa Ventures, Beenext, Cadenza, Ubx Fund, BC Group,
CMT Digital, BitMEX, ConsenSys Ventures, Unifier Ventures.

Inteluck

It provides web-based software solutions for the logistics industry. Its products include fleet tracking, vehicle management, and ePOD systems. Its clientele includes 2GO SCVASI, ASTIR Engineering Works, ISUZU, and Royal Cargo among others.

Founding year: 2014
Total funding raised: US$56 million
Investors: Navegar, East Ventures, CREO Capital Partners, Headline, Mindworks Capital, Lalamove, Future Capital.

Edamama

A platform offering mom and baby products. Its offerings include garden kits, travel accessories, diapers & wipes, safety products, breastfeeding accessories, bathing & grooming, and learning products.

Founding year: 2019
Total funding raised: US$35 million
Investors: Kickstart Ventures, AC Ventures, Gentree, Innoven Capital, GS Group, Alpha JWC Ventures, Robinsons, Foxmont Capital Partners, Communitas Founders.

MoneyMax

It develops an online comparison platform. It offers solutions for credit cards, insurance, loans, and broadband plans. It is also a financial news aggregator and provides a consumer user guide to using different financial services.

Also Read: Are traditional conglomerates in the Philippines finally embracing corporate investing?

Founding year: 2013
Total funding raised: US$50 million =
Investors: IFC, Alibaba Group, SBI Group, Goldman Sachs, Nova Founders Capital, acecompany-inc.com.

Salmon

It develops a platform offering business and consumer loans. The platform enables customers to access financial products from partners registered with the Securities and Exchange Commission (SEC) in the Philippines.

Founding year: 2022
Total funding raised: US$25 million
Investors: IFC, Northstar Group, Argentem Creek Partners, TNB Aura, DisruptAD.

Great Deals E-commerce

A provider of suite solutions for brands. Its service includes storefront management, marketplace management, content & production management, digital marketing, analytics & insights, customer support, warehouse & fulfillment, and order & inventory management.

Founding year: 2017
Total funding raised: US$42 million
Investors: CVC, Navegar, Fast Logistics.

First Circle

An online platform for trade financing. It offers loans such as invoice financing, and purchase order financing. Borrowers can register via audited financial statements, proof of sales, and bank statements, along with invoices & purchase orders. It purchases the invoice on the client’s behalf. Funds are transferred to the registered bank account.

Founding year: 2016
Total funding raised: US$37.1 million
Investors: IFC, Venturra Capital, Insignia Ventures Partners, tryb, Silverhorn, Accion, DeepBlue Ventures, Key Capital Partners, Spiral Ventures, 500 Durians, Bangkok Bank InnoHub, Inclusive Fintech 50, Alter.

SariSuki

An online platform offering multi-category grocery supplies. It provides local communities offering fresh groceries through the Ka-Sari community. It offers fruits & vegetables, sweets & snacks, dairy products, and meat & seafood. The SariSuki app allows Ka-Sari community leaders to create and manage personal stores offering SariSuki products for sale. The company offers mobile applications for Android and iOS platforms.

Founding year: 2020
Total funding raised: US$24.8 million
Investors: Kickstart Ventures, Openspace Ventures, SIG, JG Digital Equity Ventures, Global Founders Capital, Saison Capital, Foxmont Capital Partners, SIG Venture Capital, Alter.

Sprout

A cloud-based platform for human resource management systems. The platform offers tools for managing onboarding, recruitment, payroll, training, employees, and performance. It allows users to manage attendance and time. It also enables employee engagement.

Also Read: Why I left a budding career in the US to help aspiring developers in the Philippines

Founding year: 2015
Total funding raised: US$18.5 million
Investors: Cercano Management, GSR Ventures, AFG, Integra Partners, Mynavi, ACA Investments, SBVA, Point72 Ventures, Kickstart Ventures, Wavemaker Partners, Beenext, Endeavor, Dymon Asia Capital, Next Billion Ventures, Acceleprise, Right Side Capital Management, ACA Investments, Forum Ventures.

Revolution Precrafted

A designer and developer of pre-fabricated properties. It develops pre-fabricated homes, pavilions, modular hotels, amenity spaces, pop-ups, and furniture. It caters to enterprises and consumers.

Founding year: 2015
Total funding raised: US$15.4 million
Investors: K2 Global, 500 Durians

CloudEats

The Internet’s first restaurant offering food delivery, the company operates multiple cloud restaurant brands with proprietary cloud kitchen technology. Its offerings include burgers, chicken wings, rolls, meal bowls, and more.

Founding year: 2019
Total funding raised: US$14 million
Investors: Nordstar, Gobi Partners, BAce Capital, Vulpes Ventures, interainvestmentslimited.vdtrxn, gmavntures.vdtrxn, Core Capital, Pc3n Ventures.

Mober

A provider of electric fleet-based last-mile delivery services, the platform offers technology-driven logistics services with shipping, AI-optimized route planning, booking solutions, and more. It provides a tracking feature that allows users to track and monitor the delivery progress in real time.

Founding year: 2016
Total funding raised: US$10 million
Investors: Clime Capital Management, Rtheptagonholdings, 2GO Group, Index Partners.

Kalibrr

An online job-matching platform provider. Candidates can make their online profile which contains their contacts and other employment details. Companies can search for candidates either by posting their own JD for free or through the candidate database. It charges the companies for the candidates they select from the database.

Founding year: 2012
Total funding raised: US$9.6 million
Investors: Y Combinator, Kickstart Ventures, Omidyar Network, Learn Capital, Siemer & Associates, FundersClub, Unreasonable, Wavemaker Partners, Future Now Ventures,
Eudaimonia Capital, Spiral Ventures, Patamar Capital, SAGANA, FCVC, Cento Ventures, Flowing Ventures.

Lifetrack

An intuitive software platform for the entire healthcare ecosystem. It has developed software that assists with imaging and medical documentation. The patent-pending platform offers templates for creating reports and an integrated decision support library that aids in the training, education, and skills improvement of Radiologists.

Also Read: Why it is important for tech companies to expand outside metro cities in the Philippines

Founding year: 2012
Total funding raised: US$5.2 million
Investors: UOB, Kickstart Ventures, Philips, Plug and Play APAC

Plentina

Plentina provides an online platform for purchase financing. It enables customers to make installment payments for in-store products. It also provides alternative credit scores using machine learning algorithms.

Founding year: 2019
Total funding raised: US$5.2 million
Investors: TMV, Global Founders Capital, Techstars, Unpopular Ventures, ACDI, JG Digital Equity Ventures, Amino Capital, Ignite Impact Fund, Western Union, Emergent Ventures, 500 Global, Vaidya Capital Partners, Flexcap Ventures Management,
Upscale Ventures, Tess Ventures, Clearsign Capital.

FlySpaces

Flyspaces is an “Airbnb for office and retail spaces”. The company is building a network of offices, meeting rooms, and commercial spaces that businesses and entrepreneurs can lease for short periods or whenever they need them.

Founding year: 2015
Total funding raised: US$2.6 million
Investors: Future Now Ventures, COENT Venture Partners, Narra Venture Capital, Rubina Real Estate, Reapra, Oak Drive Ventures.

PawnHero

PawnHero is an online platform for pawn loans. It enables users to access loans on the basis of approved collaterals. Users can collateralize products such as luxury watches, smartphones, jewelry, and designer bags. It provides a cash card for withdrawing the loan amount from ATMs.

Founding year: 2014
Total funding raised: US$9.7 million
Investors: Spiral Ventures, 500 Durians, Hatchd Digital, Softbank China and India Holdings.

GrowSari

An online B2B marketplace offering products and services. It uses marketplace technology to connect stores to the companies and allows owners to add products such as rice, fruits, vegetables, flour, sugar, and beverages.

Also Read: Growsari lands US$5M to empower 1.3M sari-sari store owners in Philippines

Founding year: 2016
Total funding raised: US$110 million
Investors: opp-gen.com, IFC, KKR, Pavilion Capital Partners, Saison Capital, ICCP SBI Venture Partners, Tencent, Wavemaker Partners, Robinsons, JG Digital Equity Ventures,
JG Summit Holdings, Endeavor, Hatchd Digital, NOMD.

TOKI

Toki is a social commerce platform designed for collectors. It offers a new collectible trading experience, allowing collectors to buy and sell items in one place. Toki aims to simplify transactions and provide a seamless platform for collectors to connect and engage with each other.

Founding year: 2023
Total funding raised: US$1.8 million
Investors: Kaya Founders and Foxmont Capital Partners

Nextpay

It provides accounts payable, receivable management, and payment automation solutions for businesses. It enables businesses to make online payments to employees and suppliers and collect online payments from customers. It facilitates payments via bank transfers, credit/debit cards, wallets, and more. It provides solutions to entrepreneurs, solopreneurs, and other businesses.

Founding year: 2019
Total funding raised: US$1.7 million
Investors: Golden Gate Ventures, Gentree, Kickstart Ventures, First Asia Venture Capital, Foxmont Capital Partners, Tribe Capital, 1982 Ventures, Saison Capital, Razorpay, Broadhaven Ventures, Y Combinator, South Quad, Amand Ventures, 335 Fund.

Parallax

A software platform for resource planning and financial planning. It offers solutions for resource planning, forecasting, sales pricing, sales forecasting, projecting financials, business intelligence, billable capacity tracking, project management, and more.

Founding year: 2019
Total funding raised: US$24.5 million
Investors: Baird Capital, Rally Ventures, Grotech Ventures, Matchstick Ventures, Great North Ventures.

Shipmates

An online platform offering courier solutions for e-commerce businesses. The platform provides shipment booking solutions through multiple on-demand and standard courier platforms. It offers multi-courier shipment tracking, automatically generated bills, same-day pickup & delivery, and bulk booking.

Founding year: 2021
Total funding raised: US$2.3 million
Investors: Wavemaker Partners, Cathexis Ventures, Taurus Ventures, Sketchnote, Y Combinator, CapitalX, MyAsiaVc, Grant Park Ventures, XA Network, Monk’s Hill Ventures, Buko Ventures, Iterative, 335 Fund, Dhuna Ventures, AG Collective Capital.

Zipmatch

An online listing platform for residential properties. It offers quality listings that give buyers a source of legitimate properties and help sellers find qualified buyers. Its property matching service also helps educate buyers with informative articles, 360-degree views of cities and properties, flood maps, a concierge service, and a mortgage calculator. It lists both existing properties that are for sale and pre-sales for new development along with house rentals. It also matches users with property brokers and home loan providers.

Also Read: The extraordinary tale of a Filipino geek who swam against the odds in life

Founding year: 2012
Total funding raised: US$3 million
Investors: Kickstart Ventures, Monk’s Hill Ventures, 500 Durians, Spiral Ventures, Hatchd Digital, Alps Ventures, Launchpad Accelerator.

Edukasyon.ph

Edukasyon.ph is a social enterprise that helps students find colleges. The site contains details of the scholarships available to Filipinos and helps users search by location, associated subjects, associated colleges, value, and entrance requirements.&nbsp.

Founding year: 2015
Total funding raised: US$3.4 million
Investors: Lorinet Foundation, Bisk Ventures, KSR Ventures, Mustard Seed, French Partners, alternateventures.com, EduLab Capital Partners, Obunsha Ventures, Foxmont Capital Partners, First Asia Venture Capital, Core Capital, Gobi Partners, RISE,
BWiz Capital, INSEAD Alumni France Ventures.

BayaniPay

An online platform for cross-border money transfers. Users can create an account and verify their email and mobile number, and upload a valid ID. Users can also link bank accounts for money transfers.

Founding year: 2021
Total funding raised: US$9.6 million
Investors: Wavemaker Partners, Talino Venture Studios, Ptgb, East West Bank, Four Doors Down.

Packworks

A provider of software suite solutions for community-based micro-retailers. The company provides mobile applications that enable microbusinesses to manage inventory, bookkeeping, customer & product data, and logistics details. The app features include POS-enabled to track all purchases, data analytics for business intelligence, real-time stock inventory, and more.

Founding year: 2012
Total funding raised: US$2 million
Investors: CVC, FAST Logistics Group, ADB Ventures, Techstars, IdeaSpace Foundation, Arise, MDI Ventures.

BillEase

An online platform for point-of-sale financing, it enables users to purchase products and repay in monthly installments. The user must create an installment request and adjust the website sliders to choose the order value, cash-out amount, and installment term length. After providing the required documents, the approvals are provided, and the amount is credited to the wallet.

Founding year: 2017
Total funding raised: US$20 million
Investors: Saison International, Helicap, Lendable, Burda Principal Investments, Hubert Burda Media, KB Investment, Centauri Fund, MDI Ventures, 33 Capital.

Mayani

An online platform offering multi-category grocery products, the company offers organic fruits and vegetables, frozen meat and seafood, dairy products, packed foods, and more. It claims to offer free shipping on purchases over a minimum amount.

Also Read: Are startups neglecting the future middle-class population in Philippines?

Founding year: 2019
Total funding raised: US$1.7 million
Investors: Ninjacart, Atlas Venture, Ocean Impact, TheVentures, Plug and Play Tech Center, AgFunder, IdeaSpace Foundation, Unlock Venture Partners, Accelerating Asia, RISE, GROW.

Niv Della

Founded in 2015 by entrepreneur-turned-content creator Nina Dizon-Cabrera, Niv Della provides makeup products suited for the Filipino lifestyle, skin tones, and the country’s hot and humid climate. Its shade ranges and diverse marketing campaigns highlight its commitment to inclusivity.

Founding year: 2015
Total funding raised: US$2 million
Investors: DSG Consumer Partners and Foxmont Capital Partners.

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Image Credit: 123RF

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Lamudi Indonesia, an online property marketplace owned and operated by Asutralia’s Digital Classifieds Group (DCG), has received an undisclosed amount in strategic financing from Living Lab Ventures (LLV), the corporate VC arm of Indonesia real estate development company Sinar Mas Land.

“This marks another milestone for LLV, as it reflects our strong belief in DCG and Lamudi’s capability to drive the largest tech-based ecosystem for the property technology industry in Indonesia, especially through strategic collaboration and integration within the Sinar Mas Land ecosystem,” said Bayu Seto, Partner of Living Lab Ventures.

Also Read: Aussie group DCG acquires Lamudi’s Indonesia, Philippine businesses

“This move will gain access to new avenues as we are expanding our reach into Australia and strengthening our muscles in the Asia-Pacific proptech industry,” he added.

Lamudi was founded in 2013, initially focusing on building dominant property classifieds in frontier markets. Over recent years, Lamudi has shifted from advertising to transaction-based business models to accelerate revenue and growth.

Currently, it provides services, such as omnichannel marketing solutions, for over 425 property projects. The firm works with over 30,000 real estate agents in the archipelago.

“With the backing of Living Lab Ventures, we are poised to expand our operations and solidify our position as the leading real estate marketplace in Indonesia. This investment will enable us to further develop our platform, improve user experience, and provide unparalleled value to our customers,” stated Mart Polman, CEO of Lamudi Indonesia.

DCG acquired Lamudi’s Indonesia and Philippine businesses from Dubizzle Group in October last year. The deal follows DCG’s acquisition of the leading Bangladeshi portal, Bproperty, in January 2023.

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Image Credit: Lamudi

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Southeast Asian (SEA) insurtech company PasarPolis continues solidifying its regional presence with significant achievements in Vietnam and Thailand.

The company’s operations in these markets have flourished, driven by strategic partnerships and a strong customer-centric approach. These accomplishments underscore PasarPolis’ effective collaboration strategy with ecosystem partners for impactful market entry and expansion.

Building on its success, PasarPolis is now gearing up for its next major move: expansion into Singapore, seeking to further its profitable growth trajectory.

Since expanding into Thailand and Vietnam in 2019, PasarPolis has sold millions of policies, demonstrating its commitment to democratising insurance and utilising technology to meet the unique needs of local markets. Earlier this year, PasarPolis reported remarkable financial performance, with a 2x revenue growth since its last funding round in 2023 and a 250 per cent surge in Gross Written Premium (GWP).

In an email interview with e27, Brendan Batanghari, VP of Corporate Finance & Regional Partnership at PasarPolis, explains the company’s plan to continue expanding and the lessons they learn.

Also Read: Filipino insurtech startup Hive Health nets US$6.5M led by Gentree, BEENEXT

The following is an edited excerpt of the conversation.

The last time PasarPolis spoke to e27, we discussed selling insurance in a market like Indonesia, where buying insurance products is still considered a financial loss. Do you see any noticeable changes in user behaviour? If yes, how do you adjust your strategy to it?

Yes, we have observed a gradual shift in user behaviour in Indonesia. While insurance was traditionally viewed as a financial burden, we have seen an increasing awareness of its value, particularly in protecting against unexpected risks. This change has been driven by the rise of digital platforms, which make insurance more accessible and transparent, and by targeted education efforts that emphasise the importance of insurance as a financial safeguard.

One of the key factors in this shift is how easy it is to claim our insurance products. In some cases, claims are processed automatically and within minutes, which has transformed the experience of being insured.

Insurance is now viewed more positively, as customers enjoy the peace of mind that comes with daily protection, knowing that claims are easy and hassle-free.

At PasarPolis, we have focused on making the entire insurance purchasing and claiming process incredibly simple and user-friendly. Customers can now purchase and claim insurance with just a few taps, without filling out lengthy forms. We continue to prioritise making the insurance journey easier, simpler, and more affordable, ensuring our products are accessible and valuable to a broader audience.

Also Read: Insurtech shines amidst overall funding decline in Indonesia in H1

Are there any insights that you can share about Indonesian and SEA customers in general?

Indonesian and SEA customers are becoming increasingly digitally savvy, significantly influencing their purchasing behaviours. They prefer convenience and seamless experiences, so we focus on integrating our services into platforms they already use, such as e-commerce and ride-hailing apps.

In Indonesia, while insurance penetration remains relatively low at 1.4 per cent compared to neighbouring countries such as Singapore at 12.5 per cent and Thailand at 4.6 per cent, there is immense growth potential.

The increased digital literacy and the push towards digital financial services contribute to a steady rise in insurance adoption. The inclusion rate for insurance in Indonesia has also grown from 13.15 per cent in 2019 to 16.63 per cent in 2022, signaling a growing acceptance of insurance products.

Thailand and Vietnam similarly present vast opportunities. Despite Thailand’s higher penetration rate, there is still significant room for expansion, especially as more consumers become aware of insurance’s benefits and digital platforms make it easier to access these products.

In Vietnam, where insurance penetration stands at 2.2 per cent, the demand for insurance solutions is growing rapidly. This growth is driven by the country’s fast-paced economic development, increasing consumer awareness, and the rising middle class. As Vietnam continues to develop, we anticipate that insurance penetration will increase significantly, presenting a lucrative opportunity for expansion.

Overall, these markets are on the brink of a significant insurance boom. As we continue to innovate and tailor our products to meet the specific needs of customers in these regions, we are confident that insurance penetration will grow substantially. By simplifying the insurance purchasing and claiming processes, we aim to contribute to this positive trend, ensuring more people benefit from accessible and reliable insurance coverage.

Also Read: AI-powered insurtech startup Sunday acquires KSK Insurance Indonesia

Can you tell us about the user acquisition strategy you have been using in Vietnam and Thailand? What lessons have you learned from these markets?

Our user acquisition strategy in Vietnam and Thailand mirrors the approach we have successfully implemented in Indonesia.

We focus on partnering with insurance providers and ecosystem partners, such as e-commerce platforms and fintech companies, to embed our insurance products within the services that users already engage with daily. This approach allows us to reach a wide audience and seamlessly integrate insurance into their everyday experiences.

Localisation is crucial in ensuring our products resonate with local consumers and address their specific needs. One example of this localised strategy is introducing the nation’s first microinsurance product for digital electronic protection in Thailand. This product provides 12 months of coverage for new electronic goods against accidental damage and loss from theft or burglary. It can be purchased in just a few taps and easily claimed online, making it highly convenient and user-friendly.

By adapting our products to fit local demands and preferences, we have built trust and drive adoption more effectively in these markets. This localisation, combined with our partnership-driven approach, has been key to our success in Vietnam and Thailand.

What other plans do you have for these markets?

Moving forward, we plan to deepen our presence in Vietnam and Thailand by expanding our product offerings and forging new partnerships.

We are particularly interested in enhancing our digital insurance solutions to cater to the growing demand for convenient and accessible insurance products. Additionally, we aim to leverage data analytics to better understand customer needs and provide more personalised offerings.

Also Read: Thai SaaS insurtech startup Eazy Digital bags US$1M for Malaysian, Philippine expansion

We are also exploring opportunities to collaborate with local businesses to co-create insurance products that address specific market needs, further embedding ourselves in the local ecosystems.

Can you share more about your plan to expand to Singapore? What challenges or differences do you expect to encounter?

Our expansion to Singapore is a strategic move to solidify our presence in SEA’s insurtech landscape. Singapore, a highly developed and competitive market, presents opportunities and challenges. One of the main challenges we anticipate is the high level of customer expectations for seamless digital experiences and the need to differentiate ourselves in a market with established players.

We plan to leverage our experience from other markets to tackle these challenges, focusing on innovation and customer-centric solutions. A key aspect of our strategy will be emphasising the ease of purchasing and claiming insurance protection with just a few taps.

By offering a simple, fast, and convenient user experience, we aim to meet the high expectations of Singaporean consumers and stand out in a competitive landscape.

Additionally, we will consider forming strategic partnerships that can help us tap into existing networks and customer bases. We plan to emphasise compliance and adaptability to effectively navigate Singapore’s stringent regulatory environment.

By combining our strengths in digital innovation with a deep understanding of local market dynamics, we are confident in our ability to successfully expand into Singapore.

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Image Credit: PasarPolis

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FinKnight, a Malaysian fintech startup providing accounting and professional services, has secured an undisclosed strategic investment from Gobi Partners Affiliate and First Move, an early-stage fund run by Fave founder Joel Neoh and its former executive Audra Pakalnyte.

This investment supports FinKnight’s mission to provide “comprehensive accounting and professional services”, including growth strategies, fundraising, bookkeeping, and data analytics.

In today’s fast-paced startup environment, traditional financial practices often fall short of meeting the unique needs of high-growth ventures. Moreover, startups and scaleups face increasing pressure to optimise costs while scaling operations, prompting many to relocate finance and back-office functions to more cost-effective locations.

Also Read: How Fave founder’s new VC firm helps Malaysian entrepreneurs make their First Move

FinKnight (formerly Beetle Knight Advisory) addresses these challenges by offering a new approach to startup finance.

The startup, The startup, founded by Chang Lih Yen and Chan Qi Yang (former CFOs of EasyParcel and Signature Market), claims to have impacted over 15 startups and scaleups in just one year, helping them navigate complex financial landscapes, optimise their operations, and achieve sustainable growth.

Its clientele ranges from pre-seed to growth-stage companies.

Also Read: Dream big, start small: Joel Neoh shares lessons from his years with Fave

Joel Neoh, Partner at First Move, said, “When I first met the FinKnight team, I was immediately struck by their deep understanding of the unique challenges startups face. It’s not just about providing financial services—it’s about being a partner in their growth journey. We’re thrilled to join FinKnight in their mission to empower startups and scaleups across Southeast Asia with the tools they need to succeed.”

Founded in 2023, First Move has backed ten Southeast Asian startups in first year. With an average investment size of US$100,000 per startup, the VC firm has invested in companies, including The Giggly Company, Evo Commerce, DeCube, Save Day, Koppiku, 3Cat, PayGap, and Collektr.

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Image Credit: FinKnight.

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