Dear Pro member,

Indonesia’s J&T Global Express is gearing up for a substantial Hong Kong IPO to raise US$500M, making it the second-largest new share sale in the city for 2023.

The courier services startup initially had aspirations to raise at least US$1B in its Hong Kong IPO during the latter part of 2023. While the exact valuation sought in the IPO remains undisclosed, it’s expected to be substantial, given J&T’s impressive track record.

In 2021, the firm secured US$2.5B in funding at a US$20B valuation from notable investors, including Tencent Holdings and several prominent capital groups.

This IPO news provides hope for the Hong Kong stock market, which has seen a rather lacklustre year for new share sales, primarily due to increased interest rates and stricter regulatory requirements for mainland Chinese firms seeking listings abroad.

Despite these challenges, J&T’s IPO, following the footsteps of Chinese spirits maker ZJLD Group, aims to reinvigorate the Hong Kong IPO landscape and provide an exciting opportunity for investors interested in the logistics and e-commerce sectors.

Sainul,
Editor
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J&T Global aims to launch US$500M Hong Kong IPO on Monday
The Indonesian courier services startup had earlier aimed to raise at least US$1B via a Hong Kong IPO in H2 2023; The company raised US$2.5B at a valuation of US$20B in 2021 from Boyu Capital, Hillhouse Capital, Sequoia China, and Tencent.

East Ventures, SV Investment launch US$100M fund
The East Ventures South Korea fund aims to open the investment corridor between the Southeast Asian and Korean venture ecosystems; It will invest in startups in biotech, healthcare, future mobility, greentech, and media & content.

Dennis Nguyen steps down as Society Pass CEO amidst court cases, SEC probe
He is replaced by CFO Raynauld Liang; SoPa has entered into a structured financing pact to sell up to US$40M in shares to Strattners; Last month, a US court ordered SoPa to pay ~US$750K to its former CTO Rahul Narain for breaching his employment contract.

MoneySmart hits operational profitability, eyes IPO by 2025
Revenue increased 37% to US$17.6M for the first half of 2023 from the same period last year; After aborting a US$161.7M reverse takeover deal to go public late last year, the company said it intends to pursue an IPO within the next two years.

Indonesia demands Meta to remove online gambling content
This covers any content that supports, facilitates, or promotes online gambling activities; The ministry sent a warning letter to Meta on October 2; Meta has reportedly committed to and begun taking down the online gambling ads.

Jungle Ventures rolls out new programme to back idea-stage startups
First Cheque@Jungle is based on two core concepts: focus on only a few exceptional teams with bold ideas at any given time and a sizeable first cheque with no minimum ownership criteria.

Account Labs nets US$7.7M, set to launch smart contract wallet app UniPass
The investors are Amber Group, MixMarvel DAO Ventures, and Qiming Ventures; UniPass will initially be launched and tested in the Philippines before expanding to Vietnam, Malaysia, and Indonesia.

WORQ closes pre-Series B round to expand co-working spaces in Malaysia
The investors are Phillip Capital and the Leong family office; The startup says it is on track to double its space under management by the end of 2023 and aims to triple that space to 450K sqft by 2025.

Phasio lands US$2.5M to connect manufacturers, customers via digital storefront
The investors are Airtree Ventures, 500 Global, Entrepreneur First, and Gattaca Ventures; Phasio tackles the workflow between manufacturers and customers, from instant quotations and collaborating on designs to managing personalised order experiences.

TikTok faces scrutiny in Malaysia over fake news
Fahmi Fadzil, Malaysia’s minister of communication, said that TikTok’s efforts to comply with the country’s regulations are “unsatisfactory”; TikTok recently shut down its e-commerce feature in Indonesia.

Eazy Digital bags US$1M for Malaysian, Philippine expansion
Investors include M Venture Partners, Wavemaker Partners, and Orvel Ventures; A SaaS insurtech startup, Eazy Digital boasts features such as an automation campaign builder to launch data-driven and personalised campaigns to boost sales efficiency.

LUNA raises funding for its Operating System for Indonesian merchants
The investors include TNB Aura, Seedstars, 1982 Ventures, and Century Oak Capital; According to LUNA, it covers over 70 cities in Indonesia and is growing over 20 per cent m-o-m, with over 7,000 active merchants onboarded.

Mesh Bio raises funding from East Ventures
The Singapore-based healthtech startup develops clinical decision support analytics and automation solutions for patients; Dara, Mesh Bio’s health intelligence platform, provides real-time patient data such as health history, lab tests, and medical images.

UnaFinancial, Velexa launch digital investing platform in UAE
The platform enables UnaFinancial’s clients to acquire and trade multiple asset classes like equities, forex, bonds, commodities, and derivatives; In the initial phase, the platform will enable investment options and tools covering US Equities & ETFs and FX trading.

Ctrip co-founder Fan Min backs Vietnamese travel startup Vntrip
The app offers a travel management system to corporate clients to streamline the booking and approval processes for hotels and flights; Vntrip has raised over US$20M so far; The company said it’s working with 1,500 corporate clients across the country.

Gobi Partners invests in Malaysian reseller digital ecosystem Ejen2u
Artem Ventures also invested; Ejen2u’s offerings include a reseller management platform, education platform, reseller-based venture builder, and fintech solutions; Currently, Ejen2u’s platform serves over 340,000 resellers across Malaysia.

Xctuality develops virtual experiential platform, accelerating brands into metaverse”
Xctuality, founded by Adrian Oliveiro and Warren Woon, is revolutionising the virtual experiential space while helping SMEs enter the metaverse.

How Carrots&Cake fixes kids’ screen time dilemma with learn-first-play-later approach
Carrots&Cake’s key advantages are that learning time is focused and distraction-free, and through micro-learning, kids compound knowledge with small but consistent daily effort.

Unlocking marketing success for startups and SMEs: Strategies for excellence
When it comes to creating a marketing plan for startups and small businesses, there are unique approaches that founders need to keep in mind.

‘Our early SEA years were a great training for the challenges of MENA’: Wego CEO
Most business travel in the MENA region is still self-managed or outsourced to an old-school travel agency, says Wego CEO Ross Veitch.

Social commerce’s evolution, regulation in Indonesia: The TikTok Shop ban
Orderfaz Founder & CEO Reynaldi Gandawidjaja shares his thoughts about the recent TikTok Shop ban in Indonesia and how it will impact us all.

Philanthropy’s evolution: Entrepreneurs shaping the future of learning
The transformation of entrepreneurs into philanthropists reflects a profound shift in the values and priorities of business leaders.

How is Vietnam taking the lead in the blockchain market?
Vietnam leads in global cryptocurrency adoption for 2021 and 2022, second only to Thailand in ASEAN for holders.

Tech salary is escalating: How can companies survive the talent war?
As the talent war over engineers intensifies, companies should be prepared to face shorter average tenures and higher turnover rates.

The art of capital allocation: 5 pillars for a future-proof startup
In the intricate landscape of capital allocation, startups shape their path to success with a clear vision and strategy.

On-chain data and Web3 security: Insights from industry experts
Web3 security will shift from a reactive to a proactive approach, prioritizing prevention over post-attack responses.

How network security came to be the lifeline to patient safety and trust
AI networking features aid healthcare organisations in comprehending network performance and proactively spotting issues.

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The rising popularity of Gen AI has led to tech companies all over the world to speak more about how they are using the technology to improve their offerings. In Southeast Asia, we have seen the use of AI by companies in the health tech and property sectors such as Doctor Anywhere and Ohmyhome.

On the second day of TechWeek Singapore, Ohmyhome Group COO and Co-Founder Race Wong presented her company’s latest feature, HomerGPT. Inspired by popular tool ChatGPT, HomerGPT provided information through the use of a chatbot. But the difference about the platform is that it provides users with information related to properties, including the potential price of the property that they own.

“The data comes from different sources; from website, social media, WhatsApp. What we do is that we pull all this data into our data pool and use our match algorithm when there is a property that is going to be sold by Ohmyhome,” Wong explains.

According to her presentation, inaccurate information on property price can cost homeowners up to S$80,000.

“The price of misinformation is very costly for every single family,” Wong explains. “We are here to empower homeowners the most powerful tools to ensure that you make the right decisions for our family.”

Also Read: 

In the healthtech sector, Doctor Anywhere has used the AI technology at the height of the COVID-19 pandemic to help predict demand for healthcare services.

The use of this tech began when the company realised that their prediction of an upcoming pandemic and when it can be expected to end is just as accurate as the government’s—if not more.

“We were able to use historical data trends and predict demands during the pandemic based on things like consultation numbers, medication, inventory, and logistics. And decide how we can handle this whole thing,” explained Wai Mun Lim, Founder & CEO, Doctor Anywhere, in his presentation.

“It is going to be a very, very profound impact on our operations because when we are able to minimise the risks, we were able to get more of this. We are able to minimise patient waiting time, provide better user experience.”

Held on October 11-12 at Marina Bay Sands, TechWeek Singapore features keynotes from renowned speakers, exhibitions from global brands, and priceless networking opportunities for tech industry players.

It features seven shows under one big event: Cloud Expo, DevOps Live, Cyber Security World, Data Centre World, Big Data & AI World, eCommerce Expo, and Technology for Marketing.

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This week marked a significant milestone for a variety of innovative startups as they successfully secured substantial venture capital funding. From a telehealth pioneer to an insurtech disruptor and a Web3 wallet innovator, these companies are poised for growth and development.

Let’s delve into the details of the investments that are driving their future endeavours.

Good Doctor

Founded in 2018, Indonesia-based telehealth startup Good Doctor allows customers to consult doctors online, buy medicines from Health Mall, and book offline doctor appointments at hospital partners.

The company boasts partnerships with over 2,500 doctors and 4,500 healthcare facilities, including pharmacies, hospitals, clinics, and official health laboratories. These partnerships serve a customer base of over 2,500 companies and 15 million users in both the B2B and B2C sectors.

This week, Good Doctor raised US$10 million in a Series A funding round led by MDI Ventures, with participation from existing investor Grab.

Circular

Founded in Singapore in 2021 by Nick Ramsay, George Oliver, Pantha Roy, and Yaniv Bernstein, Circular is a subscription service focused on high-end consumer electronics. It offers customers subscriptions on a wide range of premium tech devices with free damage protection that covers up to 90 per cent of the repair cost.

Through a flexible and affordable monthly subscription, the startup allows customers to sustainably access the latest tech gadgets at a fraction of the cost. Adding to its core categories of phones, tablets and laptops, Circular recently began offering popular gaming products as part of its Singapore catalogue.

This week, it secured US$7.6 million in funding from YC Continuity Fund, Global Founders Capital, Partech Ventures, and January Capital.

Ejen2u

Founded by Sheikh Ezaiddin, Imran Hadi, and Taufiq Zakir, Ejen2u provides a reseller digital ecosystem in Malaysia. It helps micro, small and medium enterprises — including brand owners, stockists, agents, and drop-shippers — increase their business. Its offerings include a cloud-based reseller management platform, reseller education platform, reseller-based venture builder, and several fintech solutions.

Ejen2u bagged an undisclosed sum in a pre-Series A funding round led by Gobi Partners through the Gobi Dana Impak Ventures fund, with participation from Artem Ventures.

WORQ

Founded in 2017, WORQ is a Malaysia-based coworking and flexible space provider. It aims to make real estate more accessible by offering office spaces designed like Google’s, making real estate available to users through a space-as-a-service approach.

In 2023, the company claims to have achieved an 80 per cent revenue growth while maintaining mid-teen net profit margins. The firm said the demand for flexible office space is on the rise, with growing interest not only from its traditional clients like tech startups and SMEs but also from global companies expanding into the region.

This week, the startup closed an undisclosed amount in a pre-Series B funding round from Phillip Capital and the Leong family office of property developer Mah Sing Group.

Phasio

Founded by Harry Conor Lucas (CEO) and Raman (CPO), Phasio provides a manufacturing interface tailored to address existing friction points between manufacturers and customers throughout the standard process. The company claims its software tackles the end-to-end workflow between these stakeholders — from instant quotations to collaborating on designs to managing personalised order experiences via a digital storefront.

Each tool featured on Phasio’s manufacturing interface is designed to streamline product development in a way that’s intuitive to the manufacturer-customer workflow. For instance, when collaborating on designs, Phasio’s interface enables the manufacturer and customer to view the design on the former’s website and leave comments on the parts in 3D. This means a single engineer can scale up their workflow from an average of two projects to ten at a time.

This week, the Singapore- and Berlin-based startup secured US$2.5 million in seed funding led by Airtree Ventures, with participation from 500 Global, Entrepreneur First, and Michael Sorkin’s Gattaca Ventures.

LUNA

Launched in late 2019 by Abdullah Lewis (CEO), Patricco Baron (CTO), and Irianto Siah (COO), LUNA is an Indonesian embedded fintech and vertical SaaS platform for retailers and MSMEs in Indonesia. It offers an Operating System for merchants to improve their operations, payments, accounting, access to financing, supply chain, digital marketing, customer relationship, loyalty programmes, HR, legal and compliance.

This week, it raised an undisclosed round of financing led by TNB Aura through its TNBA Scout initiative. Seedstars and existing investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma also participated.

Eazy Digital

Eazy Digital is an insurtech startup built by serial entrepreneurs and insurance veterans Harprem Doowa (CEO) and Maethavee Sukul (COO). A SaaS platform, it empowers agents and brokers to automate their insurance sales and processes in Thailand.

Eazy Digital leverages technology to help insurance intermediaries break free from manual and legacy processes. The insurtech platform is built to handle millions of transactions with features such as an automation campaign builder to launch data-driven and personalised campaigns to boost sales efficiency. Agent request management that connects to a workflow system allows agents to request claims, amendments, quotations, and cancellations.

This week, Eazy Digital raised a US$1 million seed round led by M Venture Partners, with participation from returning investors Wavemaker Partners, OneDegree, Ascend Angels, and Orvel Ventures.

Account Labs

Founded in 2023 following the merger of Keystone and UniPass, Account Labs is a Web3 startup based in Singapore. The company offers a smart contract wallet, UniPass, which does away with complex 12-word seed phrases to log in. Wallet owners can use their Google account to set up and log into their wallets, with no Web3 familiarity required. Users can also top up their wallet directly with cards, Apple Pay, or GCash in the Philippines. Users can then send stablecoins directly to other Web3 wallets.

This week, the company raised US$7.7 million from Amber Group, MixMarvel DAO Ventures, and Qiming Ventures.

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Phasio, a Singapore- and Berlin-based startup developing software for the ‘productionisation’ of digital manufacturing, has secured US$2.5 million in seed funding led by Airtree Ventures.

500 Global, Entrepreneur First, and Michael Sorkin’s Gattaca Ventures also joined the round.

The strategic funding will enable Phasio to scale its engineering team to support the growing demand for its interface. A portion of the capital will be used to accelerate its manufacturing interface with feature improvements.

Also Read: Industry 4.0: Navigating disruptive technologies in manufacturing

“Our manufacturing interface is not just a tool; it’s a carefully designed ecosystem rooted in a deep understanding of the challenges that both manufacturers and customers face. Phasio’s intuitive by design, removing barriers and making it easier for manufacturers to focus on what they do best: creating quality products,” said Co-Founder Sudharshan Raman.

Founded by Harry Conor Lucas (CEO) and Raman (CPO), Phasio provides a manufacturing interface tailored to address existing friction points between manufacturers and customers throughout the standard process. The company claims its software tackles the end-to-end workflow between these stakeholders — from instant quotations to collaborating on designs to managing personalised order experiences via a digital storefront.

Each tool featured on Phasio’s manufacturing interface is designed to streamline product development in a way that’s intuitive to the manufacturer-customer workflow. For instance, when collaborating on designs, Phasio’s interface enables the manufacturer and customer to view the design on the former’s website and leave comments on the parts in 3D. This means a single engineer can scale up their workflow from an average of two projects to ten at a time.

Also Read: Making smart manufacturing a cost-efficient reality for SMEs

In addition to its core features, Phasio has developed ManufacturingGPT (mGPT), an AI agent to answer questions customers may have about specific manufacturing processes to simplify parts of the order management workflow, which may need an instant response.

Phasio’s platform boasts a number of integrations across the manufacturing workflow from Computer Aided Design software (Fusion360, CREO, Solidworks), accounting software (Xero, Quickbooks and Zoho), and shipping providers (Australia Post, UPS and FedEx).

Over 50 local manufacturers use Phasio across many markets, such as Singapore, Australia, Germany, India, the UK, Greece and the Netherlands.

Also Read: 

Vishal Harnal, Managing Partner at 500 Global, added: “Manufacturing plays a key role in bolstering the prosperity of the global economy. Phasio’s commitment to foster hyper-local and hyper-connected manufacturing holds the potential to catapult not only their customers but the people and economies dependent on these industries.”

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Image Credit: Phasio.

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LUNA, an Indonesian embedded fintech and vertical SaaS platform for retailers and MSMEs in Indonesia, has raised an undisclosed round of financing led by TNB Aura through its TNBA Scout initiative.

Seedstars and existing investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma also participated.

Also Read: Fintech funding in Q3: Indonesia witnesses 94% plunge while Vietnam sees 190% surge

With this financing, the startup plans to recruit talent across all functions, expand to new cities in the archipelago, and invest in platform development.

Launched in late 2019 by Abdullah Lewis (CEO), Patricco Baron (CTO), and Irianto Siah (COO), LUNA is an Operating System for merchants to improve their operations, payments, accounting, access to financing, supply chain, digital marketing, customer relationship, loyalty programmes, HR, legal and compliance.

“Retail merchants face an incredibly complex and competitive market. Many have not digitised or are using outdated legacy systems not built for Indonesian retailers or MSMEs. We are the all-in-one system for retail owners to scale their business and provide enhanced customer experiences,” CEO Lewis said.

Also Read: What you can learn about Singapore, Indonesia from this list of top tech startups

Its solutions include a mobile point-of-sale system with a built-in enterprise resource planning (ERP)/accounting system (Luna POS); QRIS, debit, and credit card payment enablement (Luna One); financing support for MSMEs (Luna Capital); online web (TokoLuna); and digital supply chain solutions (Luna Mart); legal support, company registration, and patenting (Luna Legal); helping MSMEs to manage social media and advertising (Luna Ads); as well as HR management, loyalty programs, and customer relationship management offerings.

According to the company, it covers over 70 cities in Indonesia and is growing over 20 per cent m-o-m, with over 7,000 active merchants onboarded.

LUNA has partnered with major banks such as Bank Jawa Barat, CIMB Niaga, Bank Neo Commerce and Nobu Bank; P2P lenders Koinworks and Batumbu, and wireless network operator Smartfren. The company is rolling out an HR management system and additional value-added services to meet the needs of MSMEs as a comprehensive solution.

Also Read: 

“With 90 per cent of all MSMEs in ASEAN based in Indonesia, we believe there is still a large, untapped market presently facing a lack of access to new technology and capital. We believe LUNA’s unique access to MSMEs through its rural bank partnerships along with their POS system software serve as prime data collection points which will enable business owners access to their full suite of product offerings,” said Glen Ramersan, Managing Partner & Head of Indonesia, TNB Aura.

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Image Credit: LUNA.

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Eazy Digital, a SaaS platform empowering agents and brokers to automate their insurance sales and processes in Thailand, has closed a US$1 million seed round.

M Venture Partners led the round, with participation from returning investors Wavemaker Partners, OneDegree, Ascend Angels, and Orvel Ventures.

Also Read: Thai insurtech company Roojai acquires DirectAsia from Hiscox

The fresh funding will be used to upgrade Eazy Digital’s automated agency management system platform for agents and brokers and fuel expansion to Malaysia and the Philippines.

Eazy Digital was built by serial entrepreneurs and insurance veterans Harprem Doowa (CEO) and Maethavee Sukul (COO). Doowa, previously co-founded Frank (acquired by bolttech in 2020).

Eazy Digital leverages technology to help insurance intermediaries break free from manual and legacy processes. The insurtech platform is built to handle millions of transactions with features such as an automation campaign builder to launch data-driven and personalised campaigns to boost sales efficiency. Agent request management that connects to a workflow system allows agents to request claims, amendments, quotations, and cancellations.

Intelligent dashboarding and reporting of key KPIs and SLAs to help boost visibility for agents. Agency profile pages allow individual agents to have their own profile pages branded under the insurance company. These pages help agents quickly build trust and generate leads.

Also Read: Wealthtech, insurtech, SaaS fintech are the new hot verticals in Indonesia: AC Ventures report

Other modular add-ons in the works include Application Programming Interface (API) enabled payment, onboarding, workflow management, dashboard, and training management to reduce operational workloads.

Eazy Digital recently partnered with Ergo Insurance and Tokio Marine Safety Insurance, facilitating 100,000 policies, renewals, and claims in Thailand.

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e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our newly introduced ‘Contributor Spotlight’, we shine a weekly spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In our first episode, we feature Daan van Rossum, CEO of FlexOS and the creator of Future Work, a weekly newsletter and podcast about the future of work for an audience of over 15,000 business and people leaders.

A valued contributor, Rossum joined us in Q2 with his debut article. Since then, his work has amassed over 3,000 views. His motivation as an e27 contributor stems from his desire to impart knowledge and experience to the startup community.

Rossum shares his personal and professional journey in our debut episode of Contributor Spotlight.

The driving force

Rossum is passionate about helping startups create environments where their employees flourish in happiness and productivity. “Startups can potentially change the world, and I want to help them achieve their goals,” he said candidly.

How it all began

Rossum embarked on his journey at 15 when he chose to leave school and delve into the internet, enticed by its transformative possibilities. With experiences at Ogilvy spanning multiple global cities, he ventured to establish his own company, committed to aiding individuals in discovering happiness and realising their aspirations.

This journey evolved further as he took on the CEO role at Dreamplex, a co-working network in Vietnam. He later introduced FlexOS, a platform that empowers people-centric managers in hybrid and remote work settings.

Also Read: Myths vs reality: Remote and hybrid managers report high productivity and trust

The future is happy

Rossum specialises in employee experience, employee engagement, remote and hybrid work models, and fostering happiness in the workplace.

Regarding employee experience trends, he said, “There’s a noticeable shift towards emphasizing its importance in boosting engagement, retention, and productivity. Furthermore, we’ve seen the rapid rise of remote and hybrid work models, accelerated by the COVID-19 pandemic. This has pushed companies to rethink and enhance the experience for remote and hybrid workers.”

He highlighted the growing focus on workplace happiness, emphasizing that companies now understand its role in driving productivity and innovation. They actively strive to create supportive, valued, and appreciated workplaces.

Advice for budding thought leaders

To all aspiring thought leaders and regular contributors seeking to enhance their skills as articulate and efficient communicators, here are some of his top tips:

• Develop a deep understanding of your field. This will give you the credibility and authority to speak on relevant topics.
• Maybe, more importantly, understand who you’re writing for. If you don’t know what your audience cares about, it’s hard to provide real value. 
• Be able to communicate your ideas clearly and concisely. 
  • Writing is thinking, but the final product should convey your message. I highly recommend the University of Michigan’s Good With Words course. 
  • Read a lot. The more you read, the more you’ll get into the flow of writing well yourself. 
• Be responsive to your audience. Engage with them on social media and answer their questions. Writing can’t be a one-way street. Let your readers inspire your next piece and help you develop your thinking and writing. 

Juggling too many things?

“Understanding your priorities is crucial,” Rossum emphasised. “Once you’ve identified them, it’s time to evaluate your schedule. Chances are, your current time allocation doesn’t align with your priorities. In that case, it’s time for a schedule reset.”

He further suggested allocating time to prioritise significant aspects of life, such as family and career, emphasizing deliberate scheduling and hyper-effective time management. He recommended eliminating non-contributory meetings and dedicating substantial blocks for meaningful, productive work.

“In my case, I rely on tools like Clockwise to automate this process, even reshuffling meetings. Balancing work, contributing, and personal life can be challenging, but setting boundaries and consciously structuring your time is essential. It’s equally important to include moments for relaxation and rejuvenation. When you follow these principles, you’ll find ample time to enjoy life”, he added.

Also Read: Examining global hybrid and remote work trends beyond the West

Staying in the loop

To stay informed, Rossum relies heavily on LinkedIn, where he follows industry leaders and influencers. “I’ve found that when crucial news surfaces, it’s often shared by one of these individuals on their profiles”, he said.

Podcasts are another invaluable resource, he feels. He’s an avid listener, regularly tuning into shows like This Week in Startups, Josh Bersin, WorkLife with Adam Grant, Acquired, My First Million, and HBR Ideacast.

He mentioned that he stays informed by subscribing to email newsletters like People Geekly and Dror Poleg, focusing on developments in employee experience, employee engagement, remote and hybrid work models, and happiness at work. These sources provide valuable updates and trends in his areas of expertise.

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Are you ready to be a part of a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem. 

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Distance learning has always been seen as a solution to give greater access to education, especially in communities where educational facilities are limited, or for more mature students who have to juggle school with other commitments such as work or family.

In Asia, we have been seeing the rise of edutech startups who are helping students to learn better through technology, such as Jakarta-based Zenius or London-based Quipper who has a strong presence in Asian market.

The rise of virtual reality (VR) also means that the education sector –particularly distance learning platforms such as MOOCs and online schools– will be able to integrate it to create a more meaningful learning experience for students.

This infographic courtesy of NowSourcing breaks it down for you.

Featured image credit: Tran Mau Tri Am on Unsplash.com

This article was first published in March 9, 2016

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UnaFinancial (formerly Robocash), a Singapore-based fintech group of companies, has announced a strategic partnership with wealth-tech company Velexa to offer a digital investment platform in the UAE.

It will enable UnaFinancial’s clients to acquire and trade multiple asset classes like equities, forex, bonds, commodities, and derivatives.

Also Read: Robocash to raise US$5M from Kilde, aims to launch online bank in SEA

In the initial phase, the platform will enable investment options and tools covering US Equities & ETFs and FX trading to novice and experienced investors.

The key functionalities of the platform include API-based connection to exchange venues, external brokers and financial service providers, besides automated trade execution.

“The UAE is ranked first among fintech centres worldwide in terms of innovation, market size, and development potential. It has a favourable regulatory environment for startups and a high level of digitalisation with the smartphone and Internet penetration of 96 per cent and 99 per cent, respectively,” said Natalia Ishchenko, CEO of UnaFinancial. “The technological solution offered by Velexa perfectly aligns with our vision of the future product.”

“We recognise the immense potential for growth and innovation in the UAE’s dynamic financial market. Together, we will reshape the future of the financial services industry in UAE, making it more accessible and user-friendly for people from all walks of life,” added Tamara Kostova, CEO of Velexa.

UnaFinancial is a group of companies developing digital financial solutions in the Middle East, Asia, and Europe. The firm claims to have generated US$139.1 million in revenue and US$13.1 million in profit as of December 31, 2022.

Also Read: Financial literacy in Southeast Asia is set to match industry growth

Velexa is a wealth-tech company focusing on democratising the wealth management industry. Headquartered in London, UK, Velexa is in Southeast Asia, Europe, and the UAE.

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Dennis Nguyen, the CEO of Nasdaq-listed Society Pass Inc., has stepped down from the post, the embattled e-commerce company said in a regulatory filing.

He is replaced by CFO Raynauld Liang, who previously led the investment function of L K Ang Corporate, a family office. He earlier founded Connex Capital, an IPO-focused advising company.

Also Read: Ex-CTO drags Society Pass into court for “breaching employment contract”, seeks over US$1.3M in damages

Society Pass has also appointed Yee Siong Tan as CFO. Tan is the company’s controller and previously served as financial controller for ISOTeam, a construction engineering company, and finance manager for Hoe Leong Corp., a shipping and equipment supplier.

While Society Pass said Nguyen’s resignation didn’t result from a disagreement, the development comes at a time when the data-driven loyalty company is embroiled in multiple controversies in the US.

Last month, the Supreme Court of the State of New York ordered the firm to pay approximately US$750,000 to the company’s former CTO, Rahul Narain, for breaching his employment contract. The judgement was delivered on a lawsuit filed by Narain four years ago.

The blow came just a few months after the same court ordered Society Pass to award a significant block of pre-IPO shares valuing approximately US$6.61 million, with up to an additional US$2.38 million penalty interest, to its co-founder and former CMO Thomas O’Connor for the breach of the Common Stock Purchase Warrant.

Furthermore, it was recently removed from the Russell 2000 index (a small-cap US stock market index), a blow to the company’s efforts to retain the coveted institutional investors that can greatly support Society Pass’s share price.

According to documents, Society Pass was being investigated by the US Securities and Exchange Commission (SEC) earlier this year.

Also Read: US court orders Society Pass to pay pre-IPO shares to co-founder and ex-CMO; company under SEC probe

Along with the executive appointments, Society Pass said it entered into a structured financing agreement to sell up to US$40 million in shares to Strattners. Under the agreement, Strattners can buy shares at 96 per cent of the current market price.

However, Society Pass’s most recent 10-Q filing showed that it only has US$10.9 million left in its coffers. A 10-Q filing is a financial report that all public companies must submit to the US Securities and Exchange Commission (SEC) at the end of their first three fiscal quarters.

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