Creating a website takes a lot of effort and once it is done, then you expect a flow of continuous visitors to it but when it does not happen, you may feel disheartened.

Do not be surprised, this happens with every new website. Most people do not get it right the first time hence go through your site to understand what is repelling your visitors. 

We have listed here a few reasons why users are leaving your site.

1. Displaying advertisement in the centre of the page

Ok, let me get this straight, the reason you have a website in the first place is to generate revenue and displaying any ad at the centre of your page will gain maximum user attention but think from the perspective of the user. Who likes to come to a site which displays an ad at the centre of the page rather than focusing on the content?

Sites interrupted by ads have a high bounce rate as many users assume that the site is spam and they immediately leave it. Do use advertisements to earn revenues but always display ads in the sidebar or bottom of the page. This makes the site look trustworthy and the chances that they engage with the ad displayed increases.

2. Slow-loading website

It goes without a doubt that a slow site delivers a bad user experience hence I am not going to discuss this any further.

Choose a hosting which is fast and make sure not to go for shared hosting as it may slow down your site.

3. A complex website which is difficult to navigate

Keep in mind that only technical people do not use your site but people who are not so computer friendly may also visit your site hence adding too many complex components is only going to confuse them.

Being creative with your website is great but do not change the primary site layout and stick to the basics as people who visit your site are more interested in the information and would not want to spend time understanding how to navigate within your site.

4. Auto-playing videos

Have you been to a site recently where suddenly you hear a video playing somewhere on the page? My first reaction is to just exit the page immediately as I do not want to watch a video which I did not choose to play.

Most users have the same mindset hence do not force a video to play when a user lands on a page rather let them choose if they would like to see it or not.

5. Using stock photos

Stock photos have become too generic as every other site is using it and speaks nothing new about your business.

Images are a very important part of your website and if you use stock photos, there is nothing unique about it hence hire a photographer for a day or two and get a personalised photo shoot done for the website for it to look more professional.

6. Ad copy doesn’t match the landing page

If your ad on SERP (Search Engine Results Page) says that first-time customers will be offered free product and when they visit the landing page, the offer changes to free shipping for a first-time order, your visitors may get annoyed and leave the site immediately.

Do not try to clickbait visitors as they will not trust such websites. The ad copy should match with the landing page or else the bounce rate will go up.

7. Forcing to fill-in information

To improve email marketing, websites aim to get the users to subscribe to the site and many use tactics such as offering freebies so that people sign-up but there are also sites which pre-check the sign-up option so that the users get subscribed to the email listing while opting to get the freebie.

Also Read: 5 features to enhance user experience of your online marketplace

As per the General Data Protection Regulation (GDPR), users get to choose how they wish their data to be handled hence tricking them into giving your personal data is a big no-no. Data Privacy experts at Siteimprove suggest that let the users choose if they trust you enough to share their information and if they do, then make sure that your data privacy and security is up to the mark.

8. What you do is not clear

You are clear in your head what you do but your visitors do not, hence as soon as they land on your site; you need to display this information clearly. The best way is to put in maximum information about what you do above the fold.

If the users need to scroll down too much to understand your business, they may leave your site soon.

9. Annoying pop-ups

Pop-ups are annoying, be it for getting more subscriptions or displaying ads. People use pop-up blockers as they do not want any interruptions while they are on a site hence why annoy your potential customers?

Just avoid using any pop-up on the page and even if you do, change the setting such that it appears only when the user reaches the bottom of the page.

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This article was first published on October 4, 2019

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While the need to achieve gender equality in the digital economy has been much discussed, our assessment of where we are today shows that we can do a better job. 

The exclusion of women has cost developing economies a staggering US$1 trillion loss over the last decade — a figure set to balloon by 50 per cent by 2025 if we don’t act. The urgent need for gender equality in the digital realm isn’t just about abstract figures. It’s about women who dream of building businesses but lack the capital and digital access to make them a reality. 

We’ve seen how women entrepreneurs bring unique perspectives, creativity, and problem-solving skills while investing back into their communities, creating jobs and driving social impact. UN’s report on entrepreneurs in Thailand, the Philippines, and Malaysia illustrates these positive ripple effects – where women founders hire 17 per cent more women than their male counterparts. They also use their incomes differently, spending 90 cents of every dollar they earn on their families, including on their children’s education, health and nutrition, compared to 30-40 cents devoted by men.

We must recognise that despite these benefits, only a third of small and medium businesses in Southeast Asia are women-owned, despite micro, small and medium businesses making up over 90 per cent of total establishments in this region. Women entrepreneurs still face significant challenges, including limited access to capital, networks, and relevant business skills.

This aligns with the significance of this year’s International Women’s Day UN theme, “Invest in Women: Accelerate Progress.”

The digital economy can boost the growth of women-led businesses

The digital economy presents a transformative catalyst for the growth of women-led businesses in Southeast Asia. Beyond a simple shift to “going online,” it offers strategic and operational advantages that empower women entrepreneurs to thrive.

For many women, the digital landscape redefines the conventional workplace. Automation and digital workflow tools can streamline everyday operations while offering the possibility of remote work environments. This newfound flexibility enables women to harmoniously manage household responsibilities and career aspirations — a balance often elusive in traditional business models.

Going online also means that women entrepreneurs can start their businesses with lower startup costs too, and without the need for a physical storefront, which is a significant advantage. They can even reach customers worldwide to grow their businesses beyond local markets.

Also Read: The climate change and gender equality connection: How to support underfunded women-owned business

The figures speak for themselves: four in five enterprises report sales increases and cost reductions directly attributed to the adoption of digital technologies. This is especially compelling within Southeast Asia, where the digital economy sectors continue to be on a growth trajectory despite global macroeconomic headwinds, according to the e-Conomy SEA 2023 report. The signs are clear that digital participation by these women entrepreneurs can reap benefits as they engage some of the most digitally engaged consumers in the world.

Empowering women-led businesses to come online in Southeast Asia

With these benefits in mind, we believe that private organisations in the region can play a greater part in empowering these women entrepreneurs. Three areas of support come to mind: 

Tailored digital training for entrepreneurs at every level is helpful in uplifting the community

In the region’s rapidly evolving digital landscape, tailored digital training for entrepreneurs is not simply beneficial – it’s essential for an equitable and thriving future. The International Telecommunication Union‘s analysis reveals a comparable gender gap in digital skills and STEM access. Left unaddressed, this divide threatens to exclude women from the very economic opportunities the digital economy promises.

While the digital economy teems with potential, women entrepreneurs must possess the skills to fully harness those opportunities for business growth. This is the driving force behind impactful initiatives like The Asia Foundation’s Go Digital ASEAN program, supported by Google’s philanthropy Google.org, in training over 140,000 entrepreneurs to date, with 60 per cent of women from underserved communities.

It recognises that digital literacy isn’t one-size-fits-all. By offering tailored training in business, finance, marketing, cybersecurity, and sustainability, women at all stages of their entrepreneurial journey gain the tools for sustained growth.

The impact is undeniable. Over 90 per cent of participants report a surge in confidence and skill when leveraging digital tools for their economic advancement. Success stories like Ms Sunu Asri of Indonesia provide a glimpse of the impact of such programs.

After learning about design apps, targeted marketing, and effective use of digital tools through the program, her fruit salad venture tripled in sales. This newfound knowledge fuels sustainable growth and inspires further digital applications within her business. We see many more stories like Ms Sunu’s through initiatives like this, and we want to keep growing this pool of entrepreneurs. 

Also Read: Breaking barriers: Hidden hurdles faced by women entrepreneurs

By investing in tailored digital training for women, we don’t simply empower individuals; we ignite a ripple effect of economic and social progress that strengthens entire communities.

Better access to capital and digital tools can help entrepreneurs grow businesses sustainably

Access to capital remains a cornerstone of entrepreneurial success, empowering businesses to scale, generate greater income, and reinvest in their communities. Yet, per the International Finance Corporation’s (IFC) estimation, approximately 70 per cent of women-owned SMEs globally lack adequate access to financial services. Compounding this, a mere seven per cent of private equity and venture capital flows to female-led businesses.

To bridge this divide, organisations must prioritise innovative funding solutions tailored to women-led businesses. These can encompass targeted grants, low-interest loans, and subsidised technology designed to dismantle barriers and drive accelerated growth.

Initiatives such as Standard Chartered Bank’s WOWnita program in Malaysia serve as powerful models. It offers not only lower interest rates, collateral-free applications, and flexible repayment plans for women entrepreneurs but also a streamlined, user-centric application process.

Similarly, Google for Startups Women Founders Fund provides financial access to our suite of products free of charge while providing hands-on mentorship and product support on cloud solutions, AI, and machine learning, among others, to help founders build and grow their businesses. 

By providing ready access to capital and technology to women entrepreneurs it can give them greater confidence in growing their business sustainably. 

Hands-on mentorship helps to build entrepreneurial attributes 

Entrepreneurial success hinges on far more than just technical skills, funding, and the latest tools. The cultivation of a resilient, forward-thinking mindset proves equally vital. Hands-on mentorship plays a pivotal role in fostering this mindset, empowering entrepreneurs to embrace their potential and confidently champion their initiatives.

Nurturing an entrepreneurial spirit requires a multifaceted approach. Programs like SheDisrupts in Indonesia demonstrate the transformative power of dedicated mentorship. By connecting women entrepreneurs with seasoned investors, advisors, and fellow innovators, they create a dynamic support network that fosters growth and unlocks innovation.

Such guidance proves invaluable as entrepreneurs navigate complex social and environmental challenges through their ventures. The program’s success speaks for itself, prompting it to return for a third year in 2023. 

By cultivating entrepreneurial attributes through mentorship, we are planting the seeds for a more resilient, innovative, and equitable business landscape. The hope is for these beneficiaries to pay it forward and continue helping even more female entrepreneurs seeking such support. 

Collective action can level the digital playing field

The transformation of women-led businesses within Southeast Asia’s digital economy is a shared responsibility.  By empowering women entrepreneurs with resources and access, we unlock their ambition and ingenuity.

This doesn’t simply benefit individuals; it builds stronger communities and, ultimately, a more prosperous region for all.  In the face of global challenges, let’s seize the potential of the digital landscape to create a future where equality and opportunity are not just ideals but realities.

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Indonesia’s long-stay rental provider Rukita has secured US$15 million in a Series B extension round of financing from new investors, including MPower Partners, BNI Ventures, Openspace Ventures, and NBA star Jeremy Lin.

Existing backers also participated, including Peak XV’s Surge, Golden Gate Ventures, Shunwei Capital, OCBC Ventures, and real estate veteran David Tsang.

The funding will be used to develop cutting-edge technologies, expand its service offerings, and recruit top-tier tech talent to bolster its team.

Also Read: How Rukita turned the pandemic into an opportunity to grow its co-living business

“We are looking forward to deepening our bench strength of tech talent to strengthen our platform and better serve our growing base of renters and property owners,” said Sarah Soewatdy, COO of Rukita.

Founded in 2019 by Sabrina Soewatdy and Sarah Soewatdy, Rukita aims to capitalise on the growing popularity of rental housing among Indonesia’s rising middle class and staggering millennial population.

The firm brings together property, landlords, market insights, marketplaces, financing, and tenant service.

Rukita claims to be EBITDA positive and doubling its supply growth year-on-year with 1.4 million rooms under its ecosystem and unique users of over 3 million per month.

“This funding marks a significant step forward in our journey to redefine the real estate landscape and drive accessibility to quality housing for different lifestyles and life stages,” said Sabrina Soewatdy, CEO of Rukita.

Also Read: Leadership mindset: The key to driving real estate digital transformation?

In 2022, Rukita acquired Infokost.id, a local search site for boarding houses, for an undisclosed sum. Infokost.id was first owned by GDP Venture, a Djarum Group financing company. In December 2020, Infokost closed its operations. Rukita then took it over and revitalised it with a series of innovations.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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The global community confronts dire environmental challenges encompassing climate change, inadequate sustainability governance, deforestation, soil degradation, agricultural waste, and the rapid pace of the fashion industry. In a stark illustration of these issues, 2023 emerged as a pivotal year, breaking records to claim the title of the hottest year ever recorded.

With worldwide temperatures averaging 14.98°C, a significant 1.46°C above pre-industrial levels and 0.13°C surpassing the eleven-month average for 2016, previously deemed the hottest year, the gravity of climate change becomes undeniable.

Compounding these concerns, human activities have propelled carbon dioxide levels in 2023 to unprecedented heights, surpassing even the pre-industrial era levels by more than double. In cities, rising energy use worsens the urban heat island effect, raising health risks and straining resources. Energy efficiency efforts fall short, leading to increased carbon emissions and exacerbating climate change. Urgent action is needed to manage carbon emissions as unchecked greenhouse gases intensify global warming. Transparent carbon reporting mechanisms are crucial for effective mitigation. Climate shifts endanger food security, notably in aquaculture, where changing conditions disrupt production.

Also read: BRI Ventures CEO to share insights on chasing Indonesia’s next Unicorn

In today’s world, societies are more aware than ever of the challenges associated with sustainability. Technological innovation emerges as a pivotal solution, illustrating its influence across diverse realms such as social relations, consumer behaviours, purchasing patterns, lifestyles, prosperity, and cultural development. Specifically, technology plays a transformative role in shaping the demand for energy and raw materials, optimising manufacturing processes and efficiency, enhancing product performance, and addressing issues related to waste management and reduction.

Despite its paramount significance, proponents of the technology and innovation sector face formidable challenges in achieving their objectives, grappling with limitations in essential resources such as human capital, financial investments, know-how, and other necessary supporting structures.

The birth of UOB The FinLab Greentech Accelerator

Launched in May 2022 by UOB FinLab, the GreenTech Accelerator (GTA) aims to grow and commercialise greentech solutions to meet the sustainability needs of businesses.

“Back in the early 2020s, we noticed that greentechs were still particularly nascent, especially in the ASEAN market. Through our Sustainability Innovation Programme (SIP), we also realised that there was a strong interest and demand for businesses to go green and adopt sustainable solutions. For instance, customers raised their purchases of sustainable items by 93% in 2022 despite the rising cost of living, and 72% of businesses believe climate change posed negative consequences to their operations and profitability. We have had more than 800 SMEs over the past 3 years attend our SIP, providing us with an opportunity to address the demand and supply gap. Hence, we decided to start the GTA to further amplify our contribution,” shared Shannon Lung, Head of UOB FinLab.

Diverging from the conventional approach of equity acquisition or fundraising assistance employed by many accelerators, the GreenTech Accelerator (GTA) operates as an equity-free platform, empowering businesses to retain rigorous control over their ownership. GTA’s distinctive value proposition lies in its dedicated focus on steering green technology enterprises towards business opportunities and impactful outcomes by fostering connections with entities facing real sustainability challenges.

Also read: Tech-forward, human-centric: Shaping tomorrow’s customer engagement landscape

In its inaugural event in 2022, GTA garnered applications from a diverse pool of over 150 candidates spanning 45 countries. The subsequent three-month Greentech Accelerator Programme saw 12 selected startups demonstrating their achievements in a compelling Showcase Day held at the Singapore Fintech Festival Labcrawl.

The success stories of HydroNeo and REDEX from the previous GreenTech Accelerator program serve as compelling use cases to highlight the benefits of becoming part of GTA’s network. “HydroNeo and REDEX are two great examples of successful past participants that leveraged UOB FinLab’s extensive network to create genuine business opportunities. As a result of the previous GreenTech Accelerator programme, HydroNeo connected with more than 15 industry players and managed to embark on a pilot project together with UOB to support Thai shrimp farmers in digitalising their business processes.

Similarly, REDEX leveraged the networking sessions and masterclasses to meet industry leaders, educated businesses and increased mindshare of their product – Renewable Energy Certificates (RECs) and secured new clients, including UOB. Being in front of a curated network was instrumental for REDEX as it provided great opportunities for collaboration with new partners,” elaborated by Shannon Lung.

What’s in it for GreenTech Accelerator 2024?

Building on the success of the previous run to regionalise the programme, GreenTech Accelerator 2024 is poised to make a significant regional impact, with a focus on Singapore, Thailand, and Malaysia this year. “GTA 2024 plays a crucial role in ensuring global greentechs to have a platform that fosters business growth and innovation by bringing together an extensive network of industry leaders in sustainability, government agencies and businesses,” stated Shannon Lung.

With UOB FinLab’s support, GTA strengthens its mission to drive innovation and sustainability. Together, they empower green technology initiatives by tapping into UOB FinLab’s network and resources. This collaboration distinguishes GTA’s commitment to helping support innovations in green technology, aligning with UOB FinLab’s broader digitalisation goal and impacting various sectors.

GTA is designed to pioneer a regional-local or hyperlocal approach, aiming to foster innovation that transcends borders and sectors. By promoting cross-border collaboration, GTA facilitates the exchange of greentech solutions across regions. For instance, a sustainable solution developed in Singapore or Malaysia may offer valuable insights to address similar challenges in Thailand and beyond. Through GTA, a network effect is generated, enabling the sharing of knowledge, insights, and opportunities across diverse ecosystems.

Also read: Moving to Japan is a big step – but one that is getting smaller

Leveraging regional networks and expertise, while maintaining a global outreach, GTA establishes local chapters and encourages community engagement. This approach not only amplifies the impact of green innovations but also nurtures a collaborative ecosystem where local stakeholders actively contribute to global sustainability efforts.

By partnering with GTA, UOB FinLab aims to catalyse cross-sector efforts, highlighting technology’s role in sustainability, and showing that integrating greentech across industries is key to addressing environmental challenges holistically.

The GreenTech Accelerator 2024 program lays out clear criteria for applicants, emphasising the need for Asia-based startups that offer scalable global solutions, possess a Technology Readiness Level of 6 and above, and a focus on key themes such as energy efficiency, zero-waste and supply chain, sustainability reporting and carbon management, food and agriculture, and sustainable cities and urban planning.

Offering tips for prospective participants to wow the judges, Shannon Lung emphasised, “The judges are looking for mature, impactful, and deployable solutions that can tackle the needs of businesses. Be concise in highlighting your unique value proposition, how it can benefit businesses, your track record and ‘why’ you would be keen to be part of GTA2024.”

The application deadline for the program is March 31st. 

A slew of support for greentechs

To further demonstrate its commitment to empowering innovative solutions, GTA offers a total of up to SGD100,000 available for greentechs to pilot innovative, relevant, and deployable solutions with businesses. In addition, the selected greentechs will also undergo masterclasses, mentorships, and leverage on UOB FinLab’s vast network of 23,000 businesses comprising corporates and SMEs, governments, institutes of higher learning, associations and technology providers etc. to scale the business across the region.

Supported by key partners like Enterprise Singapore, A*StartCentral, Temasek Foundation, AWS, and Ecolabs, the GreenTech Accelerator 2024 is poised to be a transformative force, driving sustainable innovations in the heart of Asia.

GreenTech Accelerator 2024 not only helps bolster participating startups but also helps further our common goal of saving the planet. For more information, please visit https://thefinlab.com/programmes/the-greentech-accelerator/.

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This article is produced by the e27 team, sponsored by UOB FinLab

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

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Leadership is something that comes naturally to some people, and some people don’t even understand the concept of leadership. It is hilarious how some people don’t even know when they are a lousy boss. Leadership is all about looking into the needs of the employees and the society and helping them to develop stronger.

To give the best working environment for your employees, you have to provide them with suitable tools, regular technology upgrades and tell them that you expect them to become the best in the business.

If you want them to believe in themselves, tell them that you believe in their potential and When employees get the things they want to complete their job, they will give you the results that are more than what you expected.

Instead of getting into the cause of why your employees are acting weird in the workplace, let’s do a reality check. The following points consist of the attributes that you must avoid as a leader.

1. If you’re selfish, you are not a leader!

This is one of the most toxic personality traits, no matter if you are a leader or anyone else, but especially in leadership, this can be very harmful to your business, employees, and everyone around you.

If you want your employees to stick to your company and business, then you have to give them the freedom to use their own creativity. Being a boss will not necessarily work for you every time.

Also Read: Mind your emotions: why emotional agility is the key to personal growth

You have to show your employees why they are important for your business and this will increase the level of respect they have for you.

2. Taking all the credit and not praising your workers

Most of the times when the business or company prospers, the employers tend to take all credits and praises, that’s what they do wrong. Employees deserve equal recognition and commendations for their hard work.

A true leader is someone who understands that employees are a part of their prosperous business family.

If you praise your employees for their hard work, they will increase the level of their productivity, they will most likely stay loyal to you and your business, and most importantly, they will never act weird around the workplace.

Irritation is normal when you work hard on something, see the results, but don’t receive the credits for it.

3. They are your asset, not just your workforce

One of the worst thing a manager can do is to look at his employees as a workforce. When you start looking at your employees as a workforce, they look like a liability for your business.

That’s what I call the most terrible interpretation of a workforce. Your workforce is not a reason for your increased expenses in the industry. Your workforce is the most precious asset of your business.

Instead of looking at them as merely a source of productivity and profit generation, look at them as a precious asset and do everything possible to give them a healthy working environment.

This will reduce the level of stress for them at work, and they will work harder for the success of your business as a team. That’s how they will stay with you and your business forever!

What makes the difference?

People use the words “boss” and “leader” interchangeably, but these two words have different minor meanings as well. These slight differences play a vital role in the current scenario of the business environment.

One of the best points of distinction is that a boss is someone who takes charge of a team and assigns the task to the employees, whereas a leader is someone who motivates, inspires and aspires others to be the best version of themselves.

With that said, let’s look at some of the most crucial attributes of a manager, which makes him a good leader.

1. Tell them they are essential!

One of the most important tasks of a person after becoming a manager is to keep trying to build trust among the employees and encourage them to work as a team. That shows why a person can become a good leader. It will help the team create better communication and enhance the performance of the workers.

Encourage your workers to take part immensely in the daily tasks of the business and make them feel that they are an essential part of your business family.

2. Recognition is an ultimate morale booster

To boost the morale of your employees, you have to give them proper attention for their hard work in the business. In the past few years, almost sixteen per cent of workers left their job because they didn’t get the recognition that they deserve.

Also Read: Identifying leadership gaps in your organisation

In the US, more than 75 per cent of employees say that proper identification motivates them to do their best for their job.

3. Sometimes, just a slight push is enough

When your employees are passionate about their work, all they need from you is a small push, just a few words of motivation, an inspiring story, and that’s it! The amount of respect and you will gain after this will be unbelievable, I can assure you!

Tell them about the vision of your company or business. People tend to feel so good when they see they are a part of something fundamental.

Conclusion

In the long run, employees will stay with you only if they feel that you are a good leader. Anybody can become a boss and command people around him, but a leader helps in uplifting others, and that’s what makes him different.

Time has changed, and now, a leader has more respect than any other person. From the above points, see what qualities you have of a leader and what more you need to add in yourself to become a good leader and then see the change in your workplace.

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Image Credit: Getty Images

This article was first published on October 10, 2019

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Vietnamese firms like MoMo, Moca, and Payoo, and foreign firms like Grab and Gobear, are Fintech leaders in Vietnam. And the variety of services is startling: Digital Wallet providers, ride-hailing intermediaries, personal finance specialists, peer-to-peer lenders, and more.

Customer loyalty programs have become very creative. Digital solutions for both business and non-business purposes are common. Vietnam’s drive toward Industry 4.0 status is real and intense.

The demographics are familiar: Vietnam’s young population of more than 95 million, 84 per cent of mobile phone users own a smartphone, and 66 per cent of the population has internet access. Add to this the growth and increasing affluence of its middle class.

Vietnam is fertile ground for disruptive financial technology and its nimble start-ups are challenging incumbents across the spectrum: slow-moving and difficult to scale industries, such as traditional financial services, insurance, but also more nimble industries like marketing, distribution and more.

Indeed, no industry is immune to the changes that digital transformation is bringing to Vietnam.

But with all its appeal Vietnam’s market comes with challenges.

The challenges often revolve around It’s fluid and inadequate regulatory environment. But success begets success, and creative solutions abound. Spurred by the creativity in the market, we’ve prepared this brief Fintech FAQs.

1. I want to start a fintech company. What are the key legal issues?

Startup issues are technological, of course, but also regulatory, corporate, financial and more. Each component often has a legal overlay:

1. Formation and registration – most investments include an entity formed abroad.

2. Licensing and sublicensing – available licenses don’t always cover the intended activity. Some creativity is often necessary.

3. Financial regulatory and compliance. Some fintech activities require a special license. For example, specific licenses are required for an Intermediary Payment Services (“IPS”) provider, or for a Non-Bank Credit Institution (“NBCI”). But in some cases, one may piggyback onto another’s license by contracting for the license holder’s services or one can partner with a digital wallet or NBCI license holder.

4. Registration of appropriate business lines: In some cases, approval to conduct a particular business is itself a “license”, and no separate license is required. But some business lines, even those which do not require a license, may be subject to foreign ownership limitations, for example, “data processing”.

5. Special ownership arrangements: stock options, preferred shares, etc.

6. Financing can include venture capital or private equity or angel investments, as well as more traditional loans and convertible loans.

7. Employee stock options are important and are a form of financing.

8. Technology contracts (eg, software licensing, terms of use, etc.)

9. Broad intellectual property protection, including technology protection.

10. Data protection, storage and privacy (special obligations are imposed on companies that handle personal customer data).

11. Rules on cybersecurity may have an impact.

12. Advertising, marketing arrangements are often important.

Also Read: Vietnamese online pharma marketplace Thuocsi.vn gets US$500K from Cocoon Capital, VietCapital Ventures

13. Cooperation agreements, which define the rights and responsibilities of the companies that cooperate, include agreements on payment, confidentiality, intellectual property, warranties and indemnification, etc.

2. What about licenses. Is there a quick way to know what licenses I need and what the conditions are?

The short answer is, yes. What’s the product or service being offered? They will dictate the licensing requirements. In addition to an NBCI or an IPS mentioned above, there are other licenses.

For example, an insurance brokerage business requires an operating license. Sometimes more than one license is required.

Also, to emphasize, using another’s license at a fraction of the cost is a workable strategy as we discuss below. Licensing strategy is fundamental. It should be developed with the assistance of experienced local consultants.

3. If I need a license, should I get my own or should I team up with an entity that has a license?

The answer often depends on the license. The requirements to get a license may be large, there may be large capital requirements – minimum capital of a digital wallet is US$2.15 million.

The government acts deliberately and so it may take time for the license to be issued. The variables are the skill and experience of the applicant, capital required, the backlog of applications, and the regulatory framework.

The authorities will assess applications carefully. Having a complete and detailed application is important. Local authorities may request more information and they may ask a supervisory authority to review the application.

To repeat, one path is to form a strategic partnership or joint venture with an existing license holder. License holders are often seeking partners.

Another popular option is to acquire a local firm with an existing license. Acquiring a company involves a different approach. Research on the market is important. Each of these options presents a manageable path to success.

4. Does Vietnam allow fintech companies to enter a fintech regulatory sandbox?

“Sandbox” is understood in Vietnam as it is elsewhere. It provides regulatory exemptions for certain businesses and for a fixed period of time, to develop and test new products, services, and business models.

It perfectly fits Vietnam’s current needs.

The Prime Minister has put plans in motion to establish a Fintech Regulatory Sandbox. Details are sketchy. We are optimistic that a Fintech Sandbox will be established in the coming months.

5. I would like to raise funds for my fintech startup through an ICO/STO. Can I do so under the current legal and regulatory framework?

Initial Coin Offerings (“ICOs”) are not governed by either the Securities Law or the Civil Code, and cryptographic tokens have not been classified as assets or securities.

Cryptocurrencies are banned as a form of payment, and therefore ICOs, Security Token Offerings (“STOs”), and cryptocurrency exchanges are prohibited in Vietnam.

Also Read: What is the state of Vietnams e-commerce industry?

The Prime Minister has directed the Ministry of Justice and the State Bank of Vietnam to establish a legal framework to manage digital assets and cryptocurrencies. The expectation is that a legal framework will eventually be created. But, for now, traditional means of raising funds are the only path. That is, Venture Capital, Private Equity capital is available to start-ups.

So are banks and individual loans and other traditional funding sources. For example, a number of established incubators invest in start-ups. Many offshore funds are active in Vietnam searching for opportunities. Families and friends, of course, are always a solid option.

6. I want my startup to enter the digital wallet space. What are the legal and regulatory considerations?

A Digital Wallet company is an intermediary payment service regulated by the State Bank of Vietnam. In order to obtain an Intermediary Payment Services License, a digital wallet company must: (1) have charter capital of at least 50 billion VND (~ US$ 2.15 million), (2) demonstrate certain human resource requirements; fulfill facilities and technical conditions, (3) once licensed, it must open and maintain a separate payment guarantee account in an amount not less than the total money received from customers, less money already spent by or refunded to customers.

Vietnam did not commit to open the digital wallet market to foreign investment in its commitments under WTO. Nor did it do so under its recent trade agreements. Therefore, licensing for foreign investors is considered on a case-by-case basis.

While receiving an Intermediary Payment Services License can be slow, investors — foreign and Vietnamese — that meet conditions, can indeed, obtain a license. There are, for example, 31 active licenses for Intermediary Payment Services — five of them were issued in 2019.

–

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Image Credit: Tron Le

This article was first published on October 11, 2019

 

 

The post 6 common questions about establishing a fintech company in Vietnam appeared first on e27.

Dear reader,

Singapore’s state-owned investment giant Temasek Holdings is reportedly in preliminary talks to support OpenAI, signalling a potential collaboration that could significantly impact the AI landscape.

This development aligns with the island nation’s strategic ambition to emerge as a dominant force in AI within Asia, supported by substantial financial backing of around US$742 million for the sector. If finalised, this would mark OpenAI’s first partnership with a state-backed investor.

While neither Temasek nor OpenAI have confirmed the discussions, reports suggest that the dialogue has evolved from considering investment in OpenAI’s CEO Sam Altman’s VC fund to a direct investment in OpenAI itself. This move underscores the growing importance of AI in global investment strategies and the recognition of OpenAI’s potential in this field.

The potential investment not only signifies a financial boost for OpenAI but also aligns with Singapore’s broader vision of nurturing local AI talent and establishing itself as a hub for AI innovation.

However, OpenAI faces challenges such as financial losses and a scarcity of AI-focused chips, which underscores the significance of securing substantial investments to fuel its ambitious initiatives. Despite hurdles, OpenAI’s recent valuation surge and sustained global interest underscore its potential and significance in the AI landscape.

Sainul,
Editor.

—

NEWS

Carro acquires Beyond Cars, bets big on Hong Kong’s strong EV growth
Carro will work towards expanding Beyond Cars’s network of partnerships and further developing ancillary services across insurtech, financing, and aftersales in Hong Kong.

Temasek, OpenAI in early-stage talks for funding
The talks come as Singapore looks to become an Asian AI powerhouse, having set aside roughly US$742M for investments in the sector; Should the deal materialise, Temasek would be the ChatGPT developer’s first state-backed investor.

NBA star Jeremy Lin joins Indonesian proptech firm Rukita’s US$15M round
The backers also include MPower Partners, BNI Ventures, and Openspace Ventures; Rukita claims to be EBITDA positive and doubling its supply growth y-o-y with 1.4M rooms under its ecosystem and unique users of over 3M per month.

AI-powered insurtech startup Sunday acquires KSK Insurance Indonesia
KSK Insurance offers car, property and cargo insurance through agents and brokers across several cities in Indonesia; Sunday uses AI and digital platforms to offer personalised insurance products and services.

TikTok begs users to tell Congress not to ban it
TikTok has been under scrutiny in the US for a while; The app is banned on government-issued phones in dozens of states; The platform has previously tapped its community to support its battles in Congress.

Ai Palette, a provider of real-time insights into consumer trends, raises US$5.8M
Tin Men Capital is the investor; Ai Palette looks to expand further into the beauty & personal care and nutraceutical categories; The injection will also fuel its global expansion in North America, Europe and APAC.

Tokocrypto founder’s new AI-powered gifting startup Untukmu bags seed funding
The investors are 1982 Ventures and unnamed angels; Untukmu offers sophisticated tools, such as a gift tracker, budgeting tool, and events calendar and streamlines the gifting process.

Sea’s Free Fire India relaunch in limbo six months on
Free Fire, once a beloved game in India, has left its devoted fanbase frustrated by Garena’s lack of transparency regarding the relaunch, leading many gamers to abandon the title in favour of Krafton’s BGMI.

Thai EV startup Sleek raises funding from Krungsri Finnovate
Sleek claims to have sold over 1,000 units in 2024 and is approaching a delivery rate of 1,000 units per month; The startup also provides vehicle financing with no down payment required and at a low interest rate.

Thailand opens applications for virtual banks
The central bank and the finance ministry will consider applications within nine months of when the submission period ends; The authorities have not limited the number of licences but will consider them as appropriate for the Thai financial institutions system.

Startup investments in SEA see 44% monthly rise in February: Tracxn
Southeast Asian startups raised US$353M in venture funding from 42 rounds in Feb; Seed funding rounds (27) formed the bulk of the deals in February, followed by early-stage (12) and late-stage investments.

AI-driven food waste reduction startup Winnow raises funding for Asia expansion
ABC Impact is the investor; Winnow provides AI-enabled solutions, which are trained to recognise waste as it is thrown in the bin, whether during preparation or from a customer’s plate.

A sneak peek into the six edutech startups joining EduSpaze’s cohort 8
The six Southeast Asian edutech startups are Yaho Lab, Edvance, Quippy, School on Cloud, Safe Space, and Salatech; They will receive seed funding and mentorship from industry experts.

Studio 30 50 unveils maritime-tech startups joining its latest cohort
The cohort comprises two pre-revenue startups and eight pre-idea founders exploring solutions across crew training, safety, and engagement; predictive vessel maintenance; marine insurance; and circular economy in maritime operations.

Former McKinsey exec Marco Breu joins ThinkZone Ventures as venture partner
Breu previously founded The Mekong Business Challenge; He will accelerate the growth of ThinkZone’s Series A+ portfolio companies in terms of strategy consulting, fundraising, and partnership connections.

FEATURES

A deep-dive into Wavemaker Impact’s decarbonisation strategies in SEA
Wavemaker Impact aims to reduce global carbon emissions by 10% and drive impactful solutions across diverse sectors for lasting change.

‘HUGgy’ng innovation: Dolbomdream’s tech vest aims to bridge mental healthcare gap
Dolbomdream’s HUGgy vest provides a calming effect for those with developmental disabilities, aiming to improve access to mental healthcare.

Invest in women, accelerate progress: Why gender equality matters now more than ever
Investing in women is not only morally imperative but also essential for driving economic growth and fostering social progress.

Inside MixCare Health’s expansion plan: Seizing a US$1B opportunity in Asia
In its expansion to SEA, MixCare Health wants to focus on Thailand and Singapore, followed by Malaysia and the Philippines.

Staple CEO: SEA countries can benefit from cross-border collaboration in AI governance
According to Benjamin Stein, sharing best practices, regulatory frameworks, and learnings can lead to a more cohesive approach to safe AI usage in the region.

Following triumph at global startup competition, RizqX aims to further promote its halal investments platform
RizqX focuses on empowering Muslims to make informed financial decisions following Shariah principles.

CONTRIBUTORY ARTICLES

Google’s best leaders use this simple tool to show care and concern for their employees
As a leader, ask your employees to write down a personal goal of theirs; It’s about encouraging them to set a goal that will measurably contribute to their personal well-being; You then commit to helping them achieve it.

Beyond the money: How small angel cheque fuel startup success
Small angel cheques in startup fundraising showcase the dynamic interconnectedness of the investment ecosystem.

Grab’s new programme aims to bring more women drivers on board
As part of Grab’s Women Programme, we are rolling out tailored onboarding and training sessions, setting up women-only communities and testing a new safety feature.

Empowering enablers: How Athena Dynamics fosters innovation
Athena Dynamics’ strength lies in its people, who identify innovations, stress-test them rigorously, and seamlessly apply them in real-world scenarios.

2024 financial forecast: Growth strategies amidst uncertainty
Disruptive technologies are revolutionising how we live, work, and handle money, promising transformative shifts in the financial landscape.

What did we learn from failing to raise VC funding?
Securing funding from venture capitalists is not assured, with statistics indicating that less than one per cent of startups receive such funding.

Fintech’s hidden power: Women leading the charge for a more equitable future
Global Women’s Entrepreneurship Research also shows women are more likely to create social ventures rather than only economic ventures and pursue environmental ventures rather than economic-focused ventures.

AI will change the game of tech business in Vietnam by 2024. This is what you need to know about it
Often, businesses only realise the importance of digital infrastructure as they use new tech such as AI to increase productivity.

FROM THE ARCHIVES

Ready for expansion? here’s how to decide where to take your business
Besides factors such as legislation, infrastructure and general cultural climate, your main goal should be understanding if there is a gap between offer and demand that your products could fit into.

6 simple tips for branding your website
You might consider adding a blog to keep your customers up to date with what you are promoting or releasing; Gather images that you want to display and decide where you want them to go.

4 ways to boost your preparation for a startup pitching competition
Most business successes rely on the ability to build a strategic partnership; At a pitching competition, you get to meet like-minded people who can add value to your business in some way.

How to use the psychology of gamification to grow e-commerce sales
Gamified smart promotions provide the perfect motivation for your potential customers by rewarding them for making purchases on your online store.

6 key things to consider while hiring an individual to handle tax for your startup
As a startup owner, you often tend to take tax filing lightly and do not give much attention to hiring a tax professional. However, you should make sure to hire an experienced tax preparer.

ECHELON NEWS

BRI Ventures CEO to share insights on chasing Indonesia’s next Unicorn
At Echelon X, BRI Ventures CEO Nicko Widjaja will be speaking to e27’s Anisa Menur Maulani on navigating Indonesia’s investment landscape.

—

X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Ecosystem Roundup: Temasek in talks to invest in OpenAI | Carro acquires HK’s Beyond Cars | Sunday snaps up KSK Insurance appeared first on e27.

 

 

There are a million and one things you need to do and so little resources available to do them — this despite increasing competition in the startup ecosystem. As a result, you have to be smart about what you are doing.

Whether you’re in need of some extra cash to help you better support your startup or a more effective plan to help you grow, it doesn’t always have to be hell when bootstrapping your startup.

Below are 4 easy ways to grow your startup faster while bootstrapping:

Consider freelance opportunities to generate funds

The freelance economy is big enough, and it continues to grow.

According to Fiverr’s 2019 Freelance Economic Impact Report, skilled freelancers in the top 25 U.S. markets contribute to a combined paycheck of over USD$135 billion and are responsible for up to 2 per cent of GDP is some regions. That’s a big deal, and it should excite you as a startup founder looking to grow your startup on limited resources.

Taking freelance opportunities means that you will not have to sacrifice your position at your startup or look for a full-time job; you can work on freelance activities late at night while you build your startup during the day.

There is an overabundance of jobs for freelance programmers, designers, and developers. If you don’t have technical skills, there are countless websites that allow you to get paid to write as a freelance writer.

By taking advantage of these freelance opportunities, you can easily earn four figures (or sometimes five figures) in monthly income. This addresses your immediate needs and prevents you from having to look for a job while also possibly providing extra income that you can funnel into your startup.

Explore strategic partnership opportunities

Your startup is worth little if nobody knows about it, and getting people to know about it without having a lot of money to splash on marketing is a major challenge. This challenge can be solved by exploring strategic partnership opportunities.

Sometimes, this means you have to take on co-founders in exchange for equity in your startup; while this might be hard, it is important to realize that your startup isn’t worth much if nobody knows about it.

If your expertise is in development and programming, you can partner with someone who has a marketing background. If your expertise is in marketing, you can partner with someone who has development and programming background.

The advantage to strategic partnerships — if you have the right partner(s) and goals/milestones are properly set — is that it makes you grow at a much faster pace; it saves you time you’d otherwise spend doing what the partner will be doing, allowing you to commit it to other more important tasks, and the effort of two people growing a startup yields much better results than that of one.

A notable example of the effectiveness of leveraging partnership opportunities when bootstrapping a startup is a social media app Buffer. During the early stages, founder Joel Gascoigne brought in Leo Widrich as co-founder.

Widrich was in charge of marketing and was able to leverage his marketing experience to achieve feats that include using guest blogging to take Buffer from zero to 100,000 users within the first nine months of the company. Today, Buffer generates 8 figures in annual revenue and employs over 80 people.

Leverage on content marketing

As a cash-strapped marketer, you have to get smarter about how you market your startup.

While well-funded startups can afford to splash money on marketing, advertising, and other forms of media campaigns, you, unfortunately, do not have the same luxury. Thankfully, we have content marketing.

The main advantage of focusing on content marketing as a growth strategy is that all you need is enough time to work out a strategy and create content.

If you do not have a blog, it might be a good idea to start one. Research shows that businesses that blog get 97 per cent more links, twice the email traffic, and 67 per cent more leads than businesses that don’t.

You can also leverage guest blogging, content syndication, and content repurposing to create more awareness for your brand and increase your potential of getting more traffic from search engines.

Tap into the power of viral marketing

When bootstrapping your startup, one of the biggest techniques you can capitalize on is the power of viral marketing.

While going viral can be difficult, it can be very rewarding if done right. Dropbox is a notable example. With a current valuation of USD $7.75 billion, Dropbox’s success today cannot be separated from its effective execution of a viral marketing strategy early on. 

In fact, during its early stages, Dropbox recorded a 3,900 per cent growth in 15 months and saw its user base double every three months — between 2008 to 2010 alone, users were responsible for sending 2.8 million invites through Dropbox.

And this does not factor results that can not be directly measured (the resultant word of mouth marketing and an increase in brand value is probably much more!).

The key to Dropbox’s success is quite simple: they created an amazing product that people would love and incentivized the process of telling others about it. Users could gain up to 16GB in free storage by inviting others to use Dropbox.

This was done by making it easy for users to refer their friends; they could add an email or import a list of users from their email account, they were rewarded for connecting their social media account and sharing this with users, and prompts were made to encourage them to invite others.

Your startup can employ viral marketing no matter what you offer. Josh Earl’s Sublime Text Tips is another example of a well-executed viral marketing campaign.

By incentivizing users to promote his newsletter, Earl was able to grow his email list by 3,418 per cent (and increase his number of subscribers by almost 200,000) in just 11 days.

It doesn’t matter what approach you take to viral marketing if done right, it costs little or nothing and can be immensely rewarding for your business.

In conclusion

With the right strategy, marketing can cost nothing or very little. You can also earn extra funds to support your business while it grows.

The above are four ways to go your startup faster while bootstrapping it.

–

Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit:  Annie Spratt

This article was first published on October 12, 2019

The post Bootstrapping your startup: 4 easy ways to grow faster appeared first on e27.

Visit Echelon X to learn more about the program. Get your tickets here!

No matter the size, the vertical, or the funding stage of a startup, growth will always be one of its central objectives. Growth not only enables startups to expand their market reach but also attracts potential investors, partners, and top talent. By continually seeking growth opportunities, startups can diversify their revenue streams, mitigate risks, and establish themselves as key players in their respective industries. Moreover, growth often leads to economies of scale, allowing startups to optimise their operations, reduce costs, and improve profitability over time.

As consumer preferences, technology, and industry trends evolve, startups must innovate and grow to meet changing demands and seize emerging opportunities. Embracing growth fosters a culture of agility and resilience within startups, empowering them to pivot, iterate, and disrupt existing markets. Ultimately, by prioritising growth, startups can unlock their full potential, create lasting impact, and drive sustainable success in the long term.

Of course, like any other aspect of business, knowledge-sharing is integral to startup growth as it facilitates collective learning, fosters innovation, and accelerates progress within the entrepreneurial ecosystem. By openly exchanging insights, experiences, and best practices, startups can leverage the collective wisdom of their peers and industry experts to overcome challenges, identify opportunities, and refine their strategies. This collaborative approach not only enriches the knowledge base of individual startups but also cultivates a culture of continuous improvement and adaptation, essential for sustained growth in dynamic markets.

Also read: BRI Ventures CEO to share insights on chasing Indonesia’s next Unicorn

Moreover, knowledge-sharing enhances networking opportunities, establishes valuable partnerships, and attracts top talent to startups. By actively participating in programs dedicated to knowledge-sharing, startups can connect with seasoned professionals, investors, and potential collaborators who can offer valuable guidance, resources, and support. This network effect not only expands the startup’s reach but also facilitates access to new markets, funding opportunities, and innovative ideas. Ultimately, embracing knowledge-sharing as a core tenet of startup culture empowers entrepreneurs to navigate uncertainty, seize growth opportunities, and drive meaningful impact in their respective industries.

Paving the path to business growth through learning

Startups often face challenges in identifying the most effective strategies to achieve profitability amidst intense competition and evolving market dynamics. By engaging in knowledge-sharing initiatives, startups can gain valuable insights into successful business models, revenue-generation techniques, and growth strategies employed by peers and industry leaders. This exchange of ideas and experiences enables startups to explore innovative approaches, experiment with new concepts, and adapt their business models to better meet the needs of their target market, ultimately enhancing their prospects for long-term profitability and sustainability.

Moreover, staying informed about the new knowledge and talent requirements not only of your talent pool but also of C-suite roles and other in-demand positions is essential for startup success. As startups grow and scale, the demands placed on leadership roles such as CEOs, CTOs, and CFOs evolve rapidly, requiring executives to possess a diverse set of skills and competencies. Startups can leverage this knowledge to attract top-tier talent and build high-performing teams capable of driving innovation, executing strategic initiatives, and sustaining growth in competitive markets.

With knowledge-sharing playing such a crucial role in business growth, Echelon X proudly presents the Growth Stage: A dedicated platform for industry leaders to come together and discuss the latest trends and insights on how to grow your company.

At the Growth Stage, participants can expect to learn about ways to navigate the complexities of startup growth, particularly when it comes to learning new models and paths to profitability in the startup landscape, new knowledge and talent requirements about C-suite roles and other in-demand positions today, as well as trends and opportunities in building and upskilling the talent of today.

Also read: Navigating the AI frontier: Strategies for scaling for SEA startups

Some of the pressing topics that will be discussed at the Growth Stage include gorging the future AI workforce through talent upskilling and talent acquisition, getting the right formula of software and service for Southeast Asia SMEs, and creative storytelling: how startups can merge creativity, data gathering, and analysis to tell impactful stories, among others.

Happening on May 15 to 16 at the Singapore EXPO, Echelon X is deeply committed to fostering knowledge-sharing within the tech startup community. As one of the premier tech events in the region, Echelon X provides a platform for entrepreneurs, investors, and innovators to come together, exchange ideas, and learn from one another.

Through a diverse range of keynote speeches, panel discussions, workshops, and networking sessions, Echelon facilitates meaningful interactions and knowledge transfer, empowering participants to gain valuable insights and build meaningful connections. By promoting collaboration and knowledge-sharing, Echelon X contributes to the growth and development of the tech startup ecosystem in Asia, driving innovation and entrepreneurship forward.

Join us at Echelon X!

Gear up for the premier tech and innovation conference as Echelon X kicks off on May 15th and 16th, 2024, at the Singapore EXPO. This dynamic event will bring together industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region for two packed days.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

The post Echelon X introduces the Growth Stage: A dedicated platform for startup growth appeared first on e27.

As the global startup ecosystem continues to thrive, several innovative ventures have recently secured substantial funding rounds, reflecting investors’ confidence in their potential.

From AI-driven safety solutions for motorcycle fleets to Web3 entertainment platforms and electric two-wheeler brands, these Southeast Asian startups are shaping industries and redefining consumer experiences.

Rider Dome (Singapore)

Funding: US$2.3M
Round: Seed
Investors: Goldbell, Radha Rani Holdings Family Office, angels

Rider Dome specialises in AI-driven safety solutions for motorcycle fleets and riders. It leverages AI to reduce motorcycle accidents and enhance overall rider safety, focusing on the needs of large fleets. Its technology, Advanced Rider Assistance System (ARAS), based on computer vision algorithms, analyses real-time data and detects potential threats on the road.

Imaginary Ones (Singapore)

Funding: Undisclosed
Round: Not specified
Investors: Cypher Capital, Animoca Brands, ED3N Ventures, MH Ventures

Also Read: Animoca Brands invests in Singaporean Web3 entertainment startup Imaginary Ones

Imaginary Ones is a Singapore-based Web3 entertainment company. Founded by Clement Chia and David Lee, Imaginary Ones integrates interactive gaming experiences, curated merchandise offerings and content to provide better immersive entertainment. The Web3 startup shot to fame when it sold out a limited NFT collection of 8,888 fully animated 3D characters on the Ethereum network in a record time.

wagely (Indonesia)

Funding: US$23 million
Round: Not specified
Investors: Capria Ventures, unnamed private debt fund

wagely is an Indonesian earned wage access platform with a presence in Bangladesh. A financial wellness platform, it offers workers visibility into their daily earnings and instant access to earned wages. This allows workers to better manage their money by letting them access their pay after each workday. It is offered free to employers, who then provide it as an optional benefit to employees.

Winnow (the UK)

Funding: Undisclosed
Round: Not specified
Investor: ABC Impact

Winnow is an AI-driven food waste reduction solution company. Headquartered in London with offices in Singapore, Chicago, Dubai, and Cluj-Napoca, Winnow provides AI-enabled solutions, which are trained to recognise waste as it is thrown in the bin, whether during preparation or from a customer’s plate. The automated recording process captures 100 per cent of the waste stream and analytics identify and track where wastage occurs. This approach enables users to optimise efficiency, change behaviours, and drive significant waste reductions in their kitchens.

Ai Palette (Singapore)

Funding: US$5.8 million
Round: Series A+
Investor: Tin Men Capital (lead)

Ai Palette enables consumer packaged goods (CPG) companies to create products using AI and machine learning technologies. Ai Palette provides a multimodal AI-powered platform catering to the CPG industry in the F&B, beauty and personal care, and nutraceutical products. The platform enables real-time identification of emerging consumer trends with contextual understanding and generates and screens product ideas within minutes. This improves the costs and efficiency of developing new product category entries, product line expansion, identification of new demand spaces, portfolio optimisation and product repositioning.

Sleek EV (Thailand)

Funding: Undisclosed
Round: Series A+
Investor: Krungsri Finnovate

Sleek EV is an electric two-wheeler brand in Thailand. Its batteries are IoT-enabled with swapping capabilities. With our mobile app, Sleek users can enjoy keyless start/stop, theft detection, customisable dashboards, and carbon credits. The startup has launched four models: Type-S, Type-E, Type-X, and Sleek Play. These models share the same powertrain platform, known as S Drive 1.0, with variations in motor-rated power. The battery platform was developed in collaboration with Ampace, an advanced Lithium-ion battery company and a joint venture between CATL and ATL.

In partnership with financial institutions in Thailand, Sleek EV also provides vehicle financing with no down payment required and at a low interest rate.

Untukmu (Indonesia)

Funding: Undisclosed
Round: Seed
Investors: 1982 Ventures, angels

Untukmu.AI is a Singapore-incorporated startup providing AI solutions for the gifting industry in Indonesia. Launched in January this year, it aims to tackle the complexity of scaling personalised gifts for a broad audience, catering to small businesses, corporations, and self-employed professionals. The platform offers sophisticated tools, such as a gift tracker, budgeting tool, and events calendar — all integrated with social media to streamline the gifting process. Its dashboard allows merchants to manage and increase sales, provide valuable insights into customer preferences, optimise their product offerings, and personalise shopping experience.

Also Read: Tokocrypto founder’s new AI startup Untukmu bags funding to disrupt Indonesia’s personalised gifting market

Rukita (Indonesia)

Funding: US$15 million
Round: Series B+
Investors: MPower Partners, BNI Ventures, Openspace Ventures, NBA star Jeremy Lin, Peak XV’s Surge, Golden Gate Ventures, Shunwei Capital, OCBC Ventures, David Tsang

Rukita is a long-stay rental provider. Founded in 2019 by Sabrina Soewatdy and Sarah Soewatdy, Rukita aims to capitalise on the growing popularity of rental housing among Indonesia’s rising middle class and staggering millennial population. The firm brings together property, landlords, market insights, marketplaces, financing, and tenant service.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Innovation on the rise: Southeast Asian startups secure impressive funding rounds appeared first on e27.