GoTo on track to profitability, loss narrows 56% in Q2
The group posted net revenue of US$232M in Q2, an 87% increase from the same period last year; Meanwhile, its net losses amounted to US$216M, a 56% drop from Q2 2022.
ID audio startup Noice lays off staff amid restructuring efforts
According to the company’s LinkedIn page, it has 215 employees; It is unclear how many are impacted; Noice offers a hyperlocal approach to podcasting and audio storytelling by platforming series in local dialects.
Xendit sheds ‘small number’ of product jobs
The fintech unicorn said the move has less to do with revenue or cost reduction and more about increasing the speed of its software development life cycle and generating “accountability within engineering processes.”
Bad loans from Indonesia’s fintech lenders hit US$338M: OJK data
The amount marked a 54.9% jump y-o-y; It also outpaced the growth of total outstanding loans disbursed by the country’s fintech lending platforms, which increased 18.9% y-o-y.
BNPL startup Atome renews US$100M debt facility with HSBC Singapore
The funds will help the fintech firm to expand its services in the Philippine market and develop new consumer financing products; Atome claims it has over 40M app downloads and has disbursed more than US$4B in loans.
GoTo to exit entertainment biz, target budget consumers as it eyes profits
The company is expanding its consumer base while being “extremely disciplined” about costs; GoTo has reduced its workforce by 24% over the past three quarters while reducing non-personnel fixed operating expenses by 10%.
HealthXCapital joins Jungle to lead healthcare investments in SEA & India
HealthXCapital has engaged with over 1,200 founders across various healthcare segments, including home care, ambulatory care, insurtech, data sciences, and brain health.
SG politician leaves Grab to take ‘external-facing’ role in fintech firm
Tin Pei Ling served as director of corporate development at Grab, a shift from her initial role as director of public affairs at the firm.
Boost Capital lands US$2.5M for its chat-based bank client onboarding platform
The Singapore-based SaaS platform enables financial institutions to digitally onboard applicants for loans, savings, credit cards, and insurance quickly.
Beep launches SEA’s largest eRoaming network with a seed round
The lead investors are GGV Capital and Wing Vasiksiri; Beep is an IoT transaction platform that is a universal translator, connecting various charging systems used by different operators.
Antler joins SaaS insurtech platform CHOYS’s US$1.1M seed round
Other backers are Wing Vasiksiri, Foremast, and Fintech Nation Fund; CHOYS empowers organisations with well-being tools and a platform to make a “bigger impact” by better understanding and connecting with their people.
Sea Group logs minimal revenue growth in Q2, misses estimates
Sea Group registered US$3.1B in revenue for Q2; The logged amount marks a 5.2% increase year on year; Nonetheless, Shopee continued to be the biggest money maker for the group, generating US$2.32B in revenue for Q2 2023.
SG competition watchdog opens Grab, Trans-cab merger for public comments
Grab and Trans-cab submitted the merger proposal to the CCCS in August for a decision on whether the acquisition would violate a section of the Competition Act 2004.
MAS to regulate stablecoins for ‘value stability’ in new framework
Issuers need to meet a minimum base capital and several prerequisites, including the stability of the tokens’ value; Companies must also return the par value of the holder’s stablecoin within five business days if requested by a customer.
Musk says X will address shadowbanning ‘soon’.
Shadowbanning is not outright banning a user but making changes that ensure their content is no longer circulated and kept out of public view; Shadowbanning has been a topic of concern even in Twitter’s earlier days.
Indonesia, Singapore start trial on cross-border QR code payments
Both have set a target of introducing the system in the second half of this year.
From a single brew to unicorn: Kopi Kenangan’s journey of coffee and creativity
Kopi Kenangan is now in the early stage of exploring the use of AI for picking locations for new store openings.
Gushcloud’s winning formula: Navigating authenticity, innovation, and tech in influencer marketing
CEO Althea Lim says Gushcloud stays away from paid influencer gigs that could have the possibility of being mistaken to be propaganda.
27 ID startups that have taken the ecosystem to next level this year
These Indonesian startups have made the nation proud in this Independence Day; It has proven to be a challenging –yet historical– year.
Inclusion matters: How GitHub enhances accessibility for individuals with disabilities
Exploring the tech industry’s commitment to inclusivity, the strides made in workplace accessibility, and the transformative power of diverse perspectives.
AI is not about job displacement but job augmentation: Nick Eayrs of Databricks
We will still want a human in the loop to oversee and check the output from AI while having AI do the mundane stuff in a more efficient way, says Nick Eayrs of Databricks.
Flexibility is key: How to succeed in an ever-changing startup world
With the right mindset and approach, you can thrive in a constantly changing startup world and turn challenges into opportunities for success.
Balancing AI and human ingenuity: A guide to keeping your brain sharp
By adopting a balanced approach and implementing these strategies, we can maintain our cognitive edge and harness the full potential of AI.
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Image Credit: Gojek.
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