Singaporean businesses slow in embracing finance transformation: SAP survey; This results in companies losing US$340M annually to inefficiencies and manual processes; 33% of local employees say that they still submit expenses manually by filling out a form and enclosing physical receipts. Fintech News
PE-VC investors see steady valuations, improved exit environment in 2021, says DSA survey; PE firms have a higher appetite for new investments compared to VC firms both in 2020 and 2021; Vietnam ranks highest among markets where investors are most confident about placing bets in 2020. DealStreetAsia
Traveloka confirms US$250M fundraise, admits historic drop in biz activity due to COVID-19; Bloomberg recently reported the traveltech firm was in advanced talks with Siam Commercial Bank, FWD Group, GIC, East Ventures, etc. to raise the amount at ~US$2.75B valuation, roughly 17% less than its most recent fundraising. e27
‘It’s gonna be an economic apocalypse, but some industries are here to stay’: warns William Bao Bean of SOSV; Good businesses are still trading at a premium price; The fact that many investors continue to fund startups such as Ula, Tiin Tiin, and TurtleTree indicating that some companies are not cracking under uncertainty. e27
Could Sorabel have been saved? Co-founder Jeffrey Yuwono speaks out; COVID-19 struck the firm during the most vulnerable point in its funding strategy and devastated its core customer base; From a capital perspective, despite the uncertainty, the company procured several offers, including a term-sheet pulled at the last minute as uncertainty reached new levels in late March. e27
Digital wealth management startup StashAway raises US$16M Series C led by Square Peg; This takes he fintech firm’s total funding raised to date to US$36.4M; It claims its portfolios have generated annualised returns ranging from 11.1% for its highest risk portfolio and 4.3% for its lowest risk portfolio since its launch in July 2017. e27
Did the growing CAC in Indonesia lead to Sorabel shutdown? Experts speak; The strategy and operating cashflows control weren’t strong enough for the fashion e-commerce firm to convince investors; Thus, when the startup ran out of cash, there was simply not enough time for it to pivot the strategy towards a better profit margin. e27
Singapore’s financial services sector unlikely to contract ahead, says MAS; Fintech firms have raised US$336M in equity funding in H1, 2020, up 19% on-year, with US$137M of M&A; Tech has remained a key priority for the central bank, with recent investments in digital infrastructure having proved particularly effective amid the pandemic. DealStreetAsia
Building a global tech innovation brand with Taiwan’s vibrant tech ecosystem; Over the last decade, there has been a concerted effort across both the public and private sectors to encourage Taiwanese technopreneurs to not just innovate in their own market but also tap the 1.2B China consumer market, with an eye on global reach. e27
Entrepreneurship in a pandemic: Seeking success through economic turmoil; Building stronger relationships with employees, biz partners should take precedence over aggressive competitive behaviour; Creating unity through virtual social gatherings or checking in with one another when working from home can relieve the added pressures on the business. e27
Why corporate accelerators are dying and what they should do to thrive; Corporate accelerators that came into existence in 2010 surged to over 120 but dropped to 71 active programmes in 2017; Without alignment in objective and timeline, corporates are more likely to write off the potential and success of a startup after 1 run which eventually led to premature termination of the programme. e27
Oyo founder Ritesh Agarwal launches early-stage VC fund; Aroa Ventures aims to invest in consumer, technology, leisure infrastructure sectors; Aroa will look to invest in startups with annual revenues of US$500K-US$1M; It will have an average deal size between US$1M and US$10M. Mint
Without desks and a demo day, are accelerators worth it?; Before the pandemic, accelerators could advertise their value by lending desk space once used by Airbnb, Twilio and Brex’s co-founders, plus a glitzy demo day; Now, stripped of their in-person element, the actual value of an accelerator programme is being tested in new ways. TechCrunch
Taiwan’s TNL Media Group raises US$8M to build its publishing and data analytics businesses; It launched as a bilingual site to give millennial readers an alternative to traditional media outlets; It also has an office Hong Kong and a media vertical dedicated to covering SEA. TechCrunch
Why you need design thinking and proofs of concept to level up your biz; Design thinking is a development process that helps teams understand and empathise with their users’ needs, pains and intrinsic motivations. 70% of new startups flop; CB Insights finds that the number one reason for this is that there’s simply no market need for their product; TheNextWeb
Why streaming services need to adapt to survive in Asia; They’ll soon begin to lose their captive audience to the great outdoors, they need to be vigilant in these uncertain times and future-proof themselves for what lies ahead; Understanding the need to entice consumers to keep membership for the coming months will determine the future success of streaming platforms. e27
Exploring trends reshaping Thailand’s e-commerce scene; The COVID has spurred the growth of e-commerce, which is worth over US$4.32B; An evolving trend is the increasing engagement with brands and established stores; Engaging customers through games, competitions, and entertainment helps to build brand loyalty and connections. Tech Collective
Smart launching commercial 5G service on July 30 in Philippines; The PLDT-owned telco has poured nearly US$5.3B in overall capex spend over the past 5 years; PLDT also has partnered with Cisco and Huawei, to transform its IP fiber transport infrastructure into a fully automated, software-defined 5G-ready network. NewsBytes
MDEC partnering with more tech players to produce digital tech experts; Premier Digital Tech Institutions and Data Partner Universities will work closely with more tech partners to extend the Digital Tech Faculty Expert Programme; This will allow the tech partners to contribute to the growth of industry-ready skills required in the workforce. Bernama
3 mistakes early-stage startups in Singapore make in product development; Often, founders, especially first-timers, spend too much time perfecting their products; Develop only essential functions, release to the market as soon as possible to test the market, and iterate according to actual user behaviours. e27
Why it is important for tech companies to expand outside metro cities in Philippines; Expanding outside the metro cities enables businesses in general to experience low attrition, as well as help their employees save on commute time since traffic occurs seldom in provinces. e27
Starting a digital biz? Here’re common pitfalls to avoid; Bad marketing campaigns increase CAC, which is a crucial metric for a digital venture; You need to truly understand the target audience in order to optimise ads. Startup Thailand
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