foodpanda, barePack to bring reusable packaging for food deliveries into S’pore; Aim to combat rising disposable packaging waste; Each delivery order using barePack will come in a reusable container with a scannable QR code; Users can scan to find instructions on returning the container to the food establishment. More here
The pace of startup layoffs may be slowing down; According to data from Layoffs.fyi, the no. of people laid off stayed aloft in March-April and into the 1st weeks of May; In contrast, the total no. of firms cutting staff declined from early April through the end of May. More here
How businesses can use COVID-19 recovery phase as an opportunity to build agility; Businesses must adapt to make their offerings relevant to immediate needs; China’s Intime Shopping Centre gives a perfect example of adaptability. More here
Singapore’s venture debt fund Genesis Alternative Ventures (GAV) secures investment from Capria; GAV is an impact investor whose investees include Horangi, GoWork, Hmlet; This marks US-based Capri’s entry into SEA. More here
Angel investing is full of risks — but that’s why it’s so rewarding; Hard work and research are important; If you aren’t willing to put in the time & money, angel investing might not be right for you; Among the successful firms, only 9% provide investors with returns of 10x their investments. More here
Vietnam’s proptech startup Propzy gets US$25M Series A led by Gaw Capital, SoftBank; To expand into direct mortgage financing; Recently, Frontier Digital Ventures exited the firm by divesting its 20% equity for US$4.7B. More here
Singapore govt. to spend US$3.5B on ICT procurement in FY2020 in light of COVID-19; This is 30% rise from FY2019’s projected spend of US$2.7B; SMEs will be eligible to participate in 80% of the new proposed procurement opportunities. More here
On the ground with racism: What tech firms can do to help eliminate it without being tone-deaf; It’s one thing to be moved to do what you can do in your place, and it is quite another to support for the sake of supporting without even the basic understanding of what happened. More here
Vietnam’s consumer lending firm F88 raises US$6M from Mekong Capital, Granite Oak at US$91M valuation; It operates 180 stores; Also provides insurance, bill payments, mobile money, e-wallet top-ups services. More here
Vulpes launches COVID-19 fund, ropes in PropertyGuru co-founder as venture partner; The fund seeks to invest in 10 firms over the next 12 months; Vulpes already runs a fund in Myanmar and has tie-up with Patamar; Its investees include PropertyGuru, Hiip. More here
Fintech innovations are likely to be accelerated during pandemic, says OVO CEO; Jason Thompson says there’s a positive shift towards digital payment adoptions as consumer behaviour changes; OVO’s overall e-commerce volume has grown over 110%; But average basket size has reduced by 15%; Overall download and new users grew 276%. More here
5-month-old Indonesian wholesale marketplace Ula raises US$10.5M Sees, led by Sequoia, Lightspeed; Expansion outside of Java Island on the anvil; The app helps small store owners benefits such as a wide products list, doorstep delivery, pay-later options; Ula claims to have grown 10x since launch in January. More here
Filipino fintech Ayannah and India’s ECAPS merge, set up Singapore HQ; New entity Ayannah Global (AG) aims to provide digital financial services to the growing middle-class in South Asia and SEA; Plans to grow in India, Indonesia, Philippines, Vietnam; Post-merger, AG is expected to have a reach of over 10M customers. More here
Singapore’s fintech Wallex nabs Series A led by BAce Capital, SMDV, Skystar Capital; Plans to enter new markets; The FX platform allows customers to convert and pay in 40+ currencies, collect via virtual accounts, and hold funds in a wallet; Claims to have achieved US$1B of annualised GTV. More here
Grab’s new scheme to help digitalise small businesses, offers US$3.5M in free ads; The small biz booster programme includes tools and initiatives to make it easier for offline businesses to make the shift online; Only 34% of small businesses in SEA have an online presence. More here
KPMG survey reveals 69% Malaysian workers want WFH policy to continue; 56% of biz owners support WFH; 64% of respondents faced challenges; Main difficulties are network issues, communication barriers, and lack of tech readiness. More here
S’pore’s central bank MAS launches US$1.26M fintech innovation challenge; It’ll seek innovative solutions that can help financial institutions respond to COVID-19 and climate change; The competition comprises the revamped MAS FinTech Awards and the MAS Global FinTech Hackcelerator. More here
New food apps seeking a bite in Thailand’s US$1.12B food delivery market; Robinhood from SCB, Popman, Skootar are new entrants; GrabFood, Get, Line Man, Foodpanda are major players; A research projects the market to grow 17% this year. More here
500 Startups invests in buy-now-pay-later services startup Split; It enables businesses to offer customers the choice of paying in up to 3 instalments online/offline/social commerce; Its tech can be integrated with e-commerce platforms, in-store, and for businesses that sell via chat apps/social media. More here
Halal robot advisor Wahed closes US$25M led by Saudi Aramco’s investment arm; Plans to expand into Indonesia, India and other markets; With a presence in the US and the UK, Wahed has 100K-plus clients globally. More here
Five emerging fintech startups in Philippines; With over 15% of Manila’s startups focusing on fintech, the country had an established industry worth around US$5.7B in 2018; Expectations, pre-COVID-19, were that they’d add US$10.5B Philippines’s coffers by 2022. More here
Indonesian smart motorcycle storage startup Soul Parking raises seed funding co-led by AC Ventures, Agaeti; The startup plans to build 10 storages in 2020; The country has ~120M motorcycles and the # grow 7% per year. More here
Experts on Philippines’s e-commerce and the future of retail industry; Food and essential product retailers now focus on online, take-out, deliveries; They’re trying to maximise social media; There’s a need for retail businesses to adopt e-payments. More here
DocDoc, Kaitaiming Technology (KTM) to bring doctor discovery services to China; KTM is an insurance risk control firm combining insurance expertise with IT, Big Data, AI; DocDoc to offer its services to the policyholders of China’s top insurance firms on KTM’s platform; Last Aug, S’pore-based DocDoc raised US$13M led by UK-based ADAM. More here
Grab taps Manila’s 2K tricycle, motorcycle drivers displaced by COVID-19 for delivery; They will operate under GrabFood, GrabExpress services; Grab says the partnership with the local government is its way of giving back to the capital. More here
KBank’s IT arm KBTG develops new contactless solutions in Thailand; Face check-in, contactless menu, facePay are some of them; The service will be offered at Black Canyon outlets; To be extended to other businesses in future. More here
gojek, Pluang launch in-app gold investment feature GoInvestasi; It enables users to invest as little as 0.01 gram of gold in Pluang with payment and investment withdrawal made through GoPay; Pluang had raised US$3M from gojek’s VC arm Go-Ventures in September. More here
The post Ecosystem Roundup: Propzy raises US$25M; MAS’s US$1.26M fintech innovation challenge; The pace of startup layoffs may be slowing down appeared first on e27.