At e27, we have kickstarted a new articles series called work-life balance to learn more about tech enablers and executives and their lives beyond working hours.

Gunalan Ram is a marketing strategy leader with over 20 years of experience across project management, consulting, account strategy, and customer success encompassing multiple sectors and functions. 

He currently leads the influencer marketing and marketing strategy practice at CINNOX, a total experience platform that empowers team members and delivers an omnichannel experience to customers.

He is a regular contributor of articles for e27 (you can read his thought leadership articles here). 

In this candid interview, Ram talks about her personal and professional life.

How would you explain what you do to a five-year-old?

When five-year-olds visit Toys R Us, they are greeted by a breathtaking view of toys, games and educational products. Like how the kids enjoy personalised experiences through open play areas, interactive displays and spaces for special events and birthday parties, giving the kid a sense of joy and engagement.

This is what I do. I’m part of the marketing team, driving the marketing strategy of CINNOX. I help businesses build better relationships with their customers through personalised interactions.

What has been the biggest highlight/challenge of your career so far?

I must admit there were many challenges in my career. But through challenges, there lie opportunities as well. For every job I have taken up, I learned the art of executing tasks through teamwork and guided decision-making.

I consider all work success as my highlights. I prefer not to single out any one of them. As long as I’ve displayed a strong commitment to the task and provided value to the other party, I consider that an achievement. 

Highlights could also be seen in forming good relationships with your team members and stakeholders.

Also Read: Dream loud, dream big and dream now: Surbhi Agarwal of Yellow.ai

For now, I’m learning and soaking in my role as a Strategic Marketeer at CINNOX. The biggest challenge in this job is not the product but the chaotic marketplace itself. Information overload leaves people confused and unable to reach any decision. How do I overcome or differentiate my point of view in such a cluttered scenario?

How do you envision the next five years of your career?

I don’t have a mystic crystal ball, so I can’t predict the future. We are living in a world that moves and changes so rapidly. What excites me is I am constantly challenged with new things to learn in my current position.

We can no longer adopt a cookie-cutter approach. Marketing has evolved so much over the years, from traditional to digital. Digital marketing is an entirely different beast from traditional one. As I’m already in my mid-40s, I hope to press on learning and strategising the best way to reach the audience.

That said, I’m very fortunate to discover CINNOX. The solution is not just a unified platform that helps employees and customers but an ecosystem for a user journey, be it a startup to an enterprise.

The platform’s capabilities constantly keep me wanting to have a deep understanding of the business. I always believe that the more you understand how a company and product are positioned, the more valuable asset you will be. This is not just for a marketer but for anyone.

So at least for the next few years, I hope to build trust and reputation for the brand.

What’s something about you or your job that would surprise us?

My first job after my National Service lasted 15 years. I lived in a bubble, never getting out to venture into other domains.

In the company name CINNOX, if you take the first and last letters, CX = Customer Experience. The middle four letters, INNO = Innovation.

Though we are a startup launched in 2020, our parent company M800 was founded by a group of telecommunication pioneers in 2007 with a vision to revolutionise global communications.

What are some of your favourite work tools?

I love working on Google Workspace, though I don’t use them in my current work. We use M365 a lot to get our work done.

In my previous job, I used Jira for product development. I dabbled with project management tools like Trello and Miro occasionally, and I enjoyed the latter because of its visual strategy mapping.

For team collaboration and communication, it’s none other than our brand, CINNOX. I can use it to chat and voice/video-call my team members. Share and screen share our projects.

Do you prefer WFH or WFO, or hybrid?

I prefer a hybrid approach as it gives more freedom and autonomy. This enables me to fit my work and life together, reduces stress and helps prevent burnout.

Sometimes, it is healthy to see your colleagues at the workplace and talk about work and other matters outside of work. It helps to understand each other better, strengthens relationships, and improves communication. Going out for lunch or even a drink after work encourages team bonding.

Also Read: ‘Don’t chase titles; chase curiosity and let it lead you’: Bernadette Cho of Entrepreneur First

That said, I’m a remote worker based in Singapore. CINNOX is headquartered in Hong Kong. As such, I work from anywhere (WFA) because our platform enables us to work entirely online.

The only advice I would probably give is to try to have more human interaction to foster mental well-being. This will strengthen the connections that make teams thrive.

What would you tell your younger self?

Always be open to learning. Every day is a learning journey. If there is an opportunity to travel, go for it. Learn new cultures and meet people. The most important thing is not to underestimate anyone.

Can you describe yourself in three words?

Passionate, trustworthy and curious.

What are you most likely to be doing if not working?

Binge-watching on Netflix, Prime, and Disney with my teenage children, I go shopping with my wife (reluctantly, lol), work out at the gym, and spend time with friends.

What are you currently reading/listening to/watching?

I’m always on Spotify when I work—listening to jazz, classical, and instrumental beats. Something to keep me calm, focused, and think better.

I like reading novels, and they must have an interesting start, or I’ll get bored quite easily. Recently I’ve been reading some non-fiction/self-help books. I just finished with The Art of Thinking Clearly by Rolf Dobelli. It’s a psychology-based book for anyone who wants to make better decisions in life.

I love watching movies, any kind, as long as the story is good. Sci-fi, suspense, thriller, hero saves the world, comedy, documentary, reality, etc. Recently, I finished watching Stranger Things with my kids and was blown away by the creativity of the storyline. Currently, I’m watching Somebody Feed Phil, Season 6, a popular food and travel series by Phil Rosenthal.

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Partior, a blockchain-powered cross-border payment and value exchange, has closed its Series A financing round led by Standard Chartered.

Existing shareholders DBS, JP Morgan, and Temasek have also participated.

The transaction, whose details haven’t been disclosed, is subject to regulatory approvals and other customary closing conditions.

The investment will help strengthen Partior’s vision and drive for the broad adoption of atomic settlement and clearing. The company recently announced its 2023 product expansion and launched its Hyderabad Research and Development Centre after atomising cross-border value movements last October.

Partior CEO Jason Thompson said: “Our vision has always been to transform global payments and become the worldwide ledger for financial institutions’ value exchange. Standard Chartered is one of the most established international banks in the industry and is a strategic partner to diversify our network and scale the delivery of our technology globally.”

Also Read: ‘Trade & supply chain sector is set to witness unprecedented blockchain adoption’: #dltledgers

Partior was founded last year by JP Morgan, DBS and Temasek as an independent company.

The Monetary Authority of Singapore-backed company aims to make digital clearing and settlement more efficient, reliable and secure for financial institutions worldwide. It harnesses the key features of blockchain and smart contracts (programmability, immutability and traceability) to address the industry’s longstanding pain points.

With Standard Chartered joining the Partior network, it will serve as one of the integrated Euro settlement banks. This creates synergy and strengthens Partior’s plan to scale its offering globally. Partior is on track to deliver its currency offerings of USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD.

On the other hand, the investment will deepen Standard Chartered’s blockchain innovation capabilities to build a more transparent, efficient and secure infrastructure for global value movement. It will also further accelerate its deployment of blockchain technology across its global wholesale payments and settlements financial network and scale the delivery of Partior’s technology to global capital markets.

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Advancements in cloud computing have transformed the business landscape in the last few decades. More companies are kickstarting digital transformations to keep up with their tech-savvy competitors and meet the needs of their digitally-driven customers.

However, making a companywide transition to the cloud might seem intimidating, particularly for organisations that still rely on legacy systems. Before small businesses migrate to the cloud, they should consider several important factors, including cost, availability, security and availability.

Here are the benefits of migrating to the cloud and some tips to keep in mind to make the process simple and effective: 

Five benefits of cloud migration for businesses

Cloud computing for enterprises involves running cloud-based application software on various servers across the internet. More businesses are using the cloud than ever before.

Research shows that over 60 per cent of all corporate data is stored in the cloud, and that figure will rise in the coming years. One reason the cloud will become more ubiquitous in business is the widespread remote work trend. More people are working at home due to the COVID-19 pandemic, so companies need cloud technology to support their employees.

Also Read: Cloud communications firm Toku nets US$5M Series A+ for APAC expansion

Below are some primary benefits businesses can reap from migrating to the cloud:

Data accessibility

Cloud services allow users to access these applications from any location with internet access, which helps businesses with remote workers. Because the cloud transmits data over the internet, there’s no need for employees to work near physical hardware in an office. Anyone with proper credentials can access the company cloud, a centralised, web-based information hub. 

Scalability

Modern businesses need digital solutions that can scale up or down, depending on needs. For example, companies using the cloud can adjust the number of users if new employees join the team or others resign. 

Cost-effectiveness

The most popular cloud service providers, such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform (GCP), offer a pay-as-you-go model. These subscriptions allow companies to only pay for essential services, which helps reduce unnecessary expenses. 

Security

A significant benefit of using the cloud is enhanced security. Cybersecurity must be a priority for virtually every company. Therefore, organisations should invest in solutions that will protect their sensitive data. 

However, no IT environment is completely secure in today’s cybersecurity landscape. More businesses are moving to the cloud, and it’s becoming an increasingly popular target for hackers. The cloud is highly secure, but companies must utilise other preventive security measures to protect themselves.

Business continuity

Another benefit of using the cloud is business continuity. The cloud will come in handy if an organisation experiences a disaster, such as a cyberattack or hardware failure. 

Cloud computing solutions offer suitable storage options for companies in an emergency. Their IT systems are usually accessible from remote locations to keep operations running smoothly.

While this is not an exhaustive list, it does provide a glimpse into how businesses can benefit from the cloud. 

Tips for a seamless migration to the cloud

Follow some of these helpful tips to ensure your cloud migration process is successful:

Assess company needs

Before your company moves to the cloud, it’s important to identify why the transition is necessary, who will be affected by the change, a reasonable budget and other important considerations. 

Consider using the 80/20 rule when planning the migration: 80 per cent of your data will migrate easily, and 20 per cent might pose challenges. The 20 per cent is also referred to as “anchor workloads,” which are crucial to operations, create a complex IT infrastructure and are costly. Take them into account when planning your strategy.

Consider a piecemeal transition

Some organisations are eager to leverage the cloud and, as a result, transfer all their processes there. However, this could overwhelm your employees and cause more harm than good. 

Also Read: How can businesses improve their operating margin by controlling cloud costs

Consider migrating to the cloud over time and train your employees to get a feel for the new IT landscape. A slow transition approach will help the company adjust and fix any possible issues.

Outline roles and responsibilities

Migrating to the cloud might alter some of your employee’s roles and responsibilities. Keep them updated on these changes and what your departments should expect. All workers should be aware of the cloud migration and be ready to communicate during the process.

Your company’s IT department will play a significant role in the transition. IT professionals with experience in cloud tech will make a move easier. 

Choose a migration partner

Many cloud service providers offer helpful migration services for companies. These vendors know that more clients need assistance moving to the cloud, so they offer expert support to help facilitate the transition. 

Here are some of the most popular vendors with cloud migration services:

• Accenture
• Cognizant
• AWS
• Infosys
• IBM Managed Cloud Services
• Google Cloud
• Deloitte

These organisations and others simplify cloud migration to ensure the process is successful. 

Test, monitor and train

Once the company successfully migrates to the cloud, it’s important to run tests, monitor the new system and train employees on how to navigate the new environment. 

It might be challenging, particularly if seasoned employees are less tech-savvy than their younger peers. Employees must learn to leverage the cloud to fulfil their job responsibilities and contribute to the organisation.

Simplify cloud migration for your small business

The business landscape is rapidly changing. Companies must be agile, flexible and willing to adopt new technologies to align with their specific business objectives. 

Cloud technology is becoming increasingly widespread for all types and sizes of businesses. Migrating to the cloud will benefit your company, but only if the process is successful.

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Despite a record-breaking and highly promising 2021, global fintech funding has fallen short of expectations this year. In Q3 2022, funding dropped by 38 per cent from the previous quarter to US$12.9 billion. Also notable is how the mega-round share dropped to 34 per cent from the 66 per cent average recorded in 2021.

Such grim trends, exacerbated by restrictive macroeconomic conditions in Europe and globally, have led to a sharp reduction in the number of new fintech startups being created: an 80 per cent drop from last year’s.

Are investors losing faith in fintech? Should you?

The state of fintech investment in 2022

The decline in fintech investments speaks to the larger stock market downturn; it has particularly impacted growth stocks, which feature many fintech heroes. In 2022 H1, amidst the 20 per cent crash of the S&P 500 index, growth stocks in particular saw their stock values halved or even more significantly affected.

The fintech appeal lies in its long-term potential, with experts projecting a market value as high as US$700 billion by 2030. One closely related sector that recognises this is banking, as large banks are not slowing down in attempts to have a leg in fintech. Following in the footsteps of JP Morgan and the Bank of America, HSBC is one of the latest big banks to invest in fintech, staking US$35 million in Monese. 

Also Read: How is fintech different in Asia

The laggy growth rate in the fintech industry in 2022 has prompted these banks, which have demonstrated reluctance in the past, to identify opportunities for long-term strategic partnerships. Despite this trend, fintech are more willing to seek funding from VC firms than traditional banks due to the independence that the former might provide.

On the one hand, the unexpected growth in 2021, coming from a significant pandemic-motivated deterioration in 2020, has made a market consolidation inevitable as the market evens out. On the other hand, COVID-19 is not dead and buried yet, and even though the world seems to have returned to normalcy after the 2020 peaks, markets and economies continue to suffer from the short-term and long-term effects of the pandemic. 

However, one item of good news is that fintech companies are now more resilient, cybersecurity-wise, even though there is still a lot to be done. According to a WEF survey, it appeared that many firms took advantage of the pandemic downtime to enhance their cybersecurity infrastructures, which has been a major change.

Opportunities for fintech startups and investors

Presently, there is little doubt that 2023 VC investment in fintech will match 2021’s figures. But this particularly applies to late-stage deals.

While it may seem like overall investing activity is slowing, many early-stage startups are snapping up funding, which, even if lower than late-stage rounds, speak to the promising potential of the industry. Notably, digital lending has been going strong in this regard, with BNPL startups drawing massive interest from VCs and entrepreneurs. 

In particular, there are fewer regulatory obstacles in business lending compared with consumer financing. This creates a rich ground for innovative avenues toward profit-making while the debate on whether to categorise BNPL schemes as loans or otherwise continues.

More broadly, consumers (individuals and businesses) converge on certain major drivers, namely faster transactions, information security, and flexible cash flow management options. This also explains the rise of services like embedded finance.

It is also notable that the rise of fintech startups in recent years has been the response to perennial calls for more financial inclusion. Since 2011, the global unbanked population has reduced by 35 per cent as 1.2 billion unbanked adults have gained access to financial services. To achieve 100 per cent financial inclusion, it is pertinent to reach the over 1.7 billion adults still unbanked globally.

This is a major value proposition for emerging fintech startups; clearly, there is immense potential for growth in the sector. The liberating impact of fintech on underdeveloped and developing markets presents massive opportunities for disruptions in the coming years. 

Another important consideration for investors looking into fintech involves rising regulations for the industry. While the lack of stringent regulation for fintech startups (including neobanks) compared with traditional banks has enabled the former to innovate in ways that banks cannot, it contributes to the volatility of the industry.

Also Read: How payment networks are crucial to the rising fintech movement

However, with the clamour for fintech regulation becoming even more pressing, it remains to be seen if the industry’s startups might eventually lose some of their appeals. It is critical to watch how fintech startups respond to the growing need for more regulation as well as how regulators would attempt to balance risk containment with innovation-friendliness. 

Regardless, one vital channel that is opening for fintech startups is data analytics. Studies by KPMG and Mastercard emphasise the significance of data analytics to fintech growth in the coming years, to the extent that many fintech will seek to differentiate themselves by rebranding as data organisations providing financial services.

Empowering consumers with digital finance services requires acknowledging the need for hyper-personalised experiences, and data analytics and artificial intelligence are major keys to aligning with this demand.

Final thoughts

No sector received as much venture investment as fintech did in 2021, but we are in the final months of 2022, and it seems the glory days are well over. The goal for most established and new fintech is to help guide consumers through the struggling global economy toward personal financial stability. 

More so, opportunities keep expanding for collaboration in other sectors, such as the creator economy, whose rise has coincided with the fintech boost to support a new class of content-making entrepreneurs.

Fintech might be experiencing drought now, but that is not the end of the chapter, as there is still a lot of innovation yet to be captured, particularly via market expansions and the development of more financial technology infrastructure. 

There are plenty of reasons to be bullish on fintech startups in the coming months, but a conservative approach focused on long-term gains is the best way forward, given the present challenges of the sector and international economies in general.

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Across Southeast Asia, young professionals are struggling harder and longer than their parents and grandparents in their pursuit of owning a home. More often than not, owning a home will take up a chunk of their income and leaves no room for any semblance of financial freedom, causing stress and sometimes leading to debt.

However, younger Southeast Asians are no longer willing to put off having their own space and have found that renting a place can be the next best thing.

As a result, the stigma associated with renting is less apparent. Furthermore, with an increasing number of companies catering to the needs and concerns of the younger generation, a shift in perspective has come about. 

Renting is no longer seen as an unnecessary expense and a hindrance to the long-term goal of being a homeowner. Instead, it is now seen as an immediate and more flexible solution. 

Progressive structures for the younger generation

The conventional and restrictive structure of the real estate market no longer attracts younger and modern Southeast Asians.

This can be seen across the region, particularly in Singapore, where the landscape is continuously changing. Traditionally, the Housing & Development Board (HDB) scheme has enabled very high levels of home ownership.

However, with the rising prices of HDBs, especially in the resale market, coupled with the supply being unable to keep up with demand due to delays in the construction of Build-to-Order (BTO) properties, which can be as long as five or six years, home ownership in Singapore has declined over the years.

Also Read: Casa Mia, a Singapore coliving startup’s success story

This was further exacerbated by the pandemic, where many Singaporeans were cooped up with their families, prompting Singaporeans to opt for a more immediate solution.  

Furthermore, the requirements for owning an HDB are becoming more and more confining, with criteria indicating that one has to be married or above 35 years old to own a home. This does not gel well with the progressive population of young people who are less likely to be in traditional relationships and are choosing to get married later.

The alternative of waiting until age 35 to get a place is equally unattractive, and young people are no longer prepared to live with their parents until that age, hence the appeal of renting.  

In Indonesia, similar trends of declining home ownership have been observed. This is also due to the rising cost; according to data from Statistics Indonesia (BPS), the national share of households with a home of their own fell to just over 80 per cent last year from nearly 85 per cent in 1999. This is in line with the higher number of Indonesians renting a home at 37.71 per cent in 2020.

Additionally, with the greater focus on remote working, many Southeast Asians echo the same sentiments regarding home ownership and no longer feel the need to stay put in one place. This makes renting a more enticing option to cater to their mobile lifestyle. 

SEA’s home rental platform Cove leads a paradigm shift in the rental market

Cove, Southeast Asia’s leading one-stop home rental platform, saw that rental was growing everywhere. As experienced renters, the founders realised that the available offerings in the market were very sparse.

Having collectively rented over 30 properties in around 14 cities globally, the founders are familiar with the experience and the hurdles that young professionals have to go through to find suitable accommodation.

They understand the importance of homes to people and how homes are their safe spaces, where they live out many important moments in their lives. They held on to a belief that everyone, whether they rent or own, deserves to have a high-quality, comfortable place to live where they can feel a sense of belonging in.

To lead a shift in perspective amongst Southeast Asians, Cove knew the long-established rental processes had to change. Often tedious, antiquated and not tech-enabled, the undertaking alone can be a deterrent, with multiple agents, in-person viewings, poor listing websites and lots of paperwork.

In addition, there is often a prolonged process before tenants can settle down, namely, having to set up utilities, buy furniture and have very inflexible long contracts. 

Also Read: Throw your paper-based biz card away because Scard has a better alternative

With that in mind, Cove has used technology and a consumer-first approach to transform and make the experience more seamless. With flexible stays starting from three months only, everything is managed by state-of-the-art technology, from Virtual Reality (VR) tours to online booking and even the integration of smart home technology where possible.

The goal is to strengthen mindsets further that renting is the new norm. In just over four years, Cove has expanded its portfolio across Singapore and Jakarta to 6,000 rooms, more than 30 times the roughly 200 rooms it had in 2019.

The future of the rental market

Southeast Asia has always been conventionally a house-buying market, and stereotypes about renting have long been ingrained within the population. However, there has also been a growing acceptance that times are evolving and that a different approach is necessary.

Millennials and Gen Z now see renting as an investment in the quality of life rather than a “waste of money”. There has been a greater need to leave the nest earlier and live independently, enabling them to build life skills around budgeting and managing multiple responsibilities. 

Companies like Cove put renters at the core of their business by making renting more affordable through products like co-living, enabling young people to rent a place while still being able to save and ultimately buy a property in the future.

The all-inclusive nature of their offering also gives more visibility to utility costs. In addition, things like wifi and housekeeping are all included, reducing the administrative burden for people with limited time. 

Ultimately, renting a home is becoming the norm as younger professionals put their quality of life above anything else. However, the changing real estate market and mindsets call for more inclusive choices.

Businesses like Cove have kept up with the trends and placed people at the centre of their business model, evolving with their customers’ needs for a more sustainable and long-term outlook.

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The majority of the world’s population still does not have access to Internet connectivity because existing communication technologies, such as fibre optics and radio frequency, are challenged by the world’s ever-growing demand for better connectivity, according to Rohit Jha, Co-Founder and CEO of Transcelestial Technologies, a last-mile internet connectivity startup.

He also said internet penetration would not be enough to bring everyone online. At the heart of the internet distribution problem is the need to provide affordable, high-speed internet to everyone.

“Even among the ‘connected’, internet speeds can vary between 12Mbps to 238Mbps. The impact on those at the lower end of the spectrum can be felt across their daily digital career, work and personal interactions,” he said in an interview with e27.

“Fibre optics can be highly time-consuming and cost-prohibitive to deploy in most countries. It often faces huge ‘right of way’ challenges in getting access to the ground where it can be deployed. On a per kilometre basis, it can cost between US$10,000 (in rural areas) to US$100,000 (in dense urban areas),” Jha added.

Also Read: Transcelestial raises US$9.6M Series A to ‘deliver a step-change in internet connectivity globally’

Transcelestial can address this problem with its laser communication (lasercomms) technology, he added. The Singaporean startup has developed a network device called Centauri to provide a wireless distribution network between buildings, traditional cell towers, street-level poles and other physical infrastructure. The size of a shoe box, Centauri weighs less than 3kg and can deliver fibre-like speeds to customers.

“Our device provides the same level of high-speed wirelessly, regardless of contextual factors, such as extreme weather or spectrum licensing. The technology involves accurately beaming a laser as thin as a single hair strand into a smartphone-sized window 3km away. The cost of deploying our technology per km is roughly 10x cheaper and takes just days (compared to months) for deployment,” claimed Jha.

“Wireless solutions like Centauri devices provide consistent, high-speed wireless connectivity even in congested environments or under the most demanding weather conditions. They can be deployed quickly with a simple point-to-point connection, which means organisations can now connect the last mile rapidly, flexibly and cost-effectively without any right of way,” shared Jha. “We remove the need to lay expensive fibre to bring internet to mobile towers and buildings in the case of home or office broadband.”

Centauri devices are already installed in over ten markets, including Singapore, the US, Indonesia, India, Australia, New Zealand, Taiwan, the Philippines, Malaysia, and Mongolia.

Its customers are leading telecom companies, internet service providers, ports, universities, sports entertainment organisations, cloud providers, defence, and governments.

Globe Telecom, which has previously tested its technology, has deployed Centauri in the Philippines in areas where it is difficult to install fibre. Hong Kong’s HIT Ports have also deployed this technology between their data centres to power connectivity.

Last week, Transcelestial opened a US$1-million Terabit Factory facility in Singapore. The 2,000-square feet production facility can manufacture up to 2,400 Centauri devices annually. It can create a potential bandwidth of over 10 Tbps, which translates into the capacity to connect tens of millions of users.

Also Read: Transcelestial aims to help telcos roll out 5G rapidly and cost-effectively in SEA

Terabit Factory was set up to meet the rising demand for lasercomms technology across telecom, broadband, education, ports and maritime, government, and defence.

The company is currently in talks with some of the world’s leading telecom and connectivity partners to roll out the technologies produced right in this facility.

Transcelestial has recently expanded into India, a vast market with massive potential. It has an on-ground commercial team and some early national-level partners working on key broadband initiatives in some Southern states in India.

“For instance, we are working with a top-tier enterprise broadband provider with a large presence across India to provide high-speed connectivity to their enterprise customers. In parallel, we are also working with key railway and metro station owners to build robust connectivity infrastructure at and between their stations,” he said.

Founded in December 2016 by Jha and Mohammad Danesh (CTO), Transcelestial is backed by investors, including EDBI, Wavemaker Partners, Airbus Ventures, Cap Vista, SEEDS Capital, Entrepreneur First, Partech Ventures, 500 Startups, AirTree Ventures, Tekton Ventures, SGInnovate, and SparkLabs Global Ventures.

Transcelestial also counts Michael Seibel (CEO of Y-Combinator, Founder of Twitch.tv) and Charles Songhurst (Microsoft’s former Head of Corporate Strategy) among its backers.

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As two of the leading tech giants in Southeast Asia (SEA), Grab and Gojek took radically different approaches to growth. If Grab is known for rapidly launching in new markets in SEA with its platform, Gojek is known for its strong focus in Indonesia before it started entering neighbouring countries.

But if you were a startup founder looking to make it big in the region, which approach should you go for? How do you decide the most suitable one for your company? In a panel discussion on the first day of Echelon 2022 on October 27 at Resorts World Sentosa, four founders and CEOs shared their personal experiences.

According to Ram N Kumar, CEO & Founder of Nirog Street, the first thing to remember is that there is no right or wrong in choosing either approach. Instead, it is all about deciding one’s end goal.

“If you want speed and scale, you need to become Grab. But if you want market leadership, you need to become Gojek,” he stressed.

Jennifer Zhang, Co-Founder and CEO of Wiz Holdings, said that founders should also consider the condition in the market they are operating in: Does it provide sufficient opportunities for growth? Taking the example of Finland and Singapore, she highlighted how international expansion is a sure way to go for companies in these markets.

Also Read: Ex-Gojek VP’s mobile café network Jago nets US$2.2M pre-Series A

But for companies operating in markets with plenty of opportunities for growth, there is also an element of having a first-mover advantage in the Gojek approach.

As a company from Hong Kong, Zeek also saw the need to expand to other markets early on, but they made a careful decision on the kind of services they introduced in a new market. Starting out as a last-mile delivery service platform, CEO & Co-Founder Vincent Fan explained how they eventually saw this new opportunity in the market they operated in.

“We realised that last-mile fulfilment is not the only challenge our merchant is facing,” he said. “That was when we came up with a lot of our solutions. With our delivery services, we need to learn about local nuances, labour laws, competitors, delivery fees, and so forth. So our solutions business is easier to replicate across markets.”

“At this point in time, we’re at a junction of focusing deeply on those markets that were already in with our delivery businesses. On the other hand, for our solutions business, [we are working on] which other markets that are quick to go into,” Fan continued. “For example, in Singapore, we have all the major instant on-demand delivery partners across the country. Are there partners that are capable of supporting us in other markets that we might want to explore? I think that’s the direction we are moving towards at this point.”

The matters of talents

Panel moderator Klaus Wehage, Co-Founder & CEO at 10x Innovation Lab, pointed out the importance of talents in a company’s international expansion move and the different types of talents that a company need for this process.

Also Read: This app from gojek’s ex-CMO notifies you about the quality of air in your location every 20 minutes

For the panellists, there are different criteria that they are looking at. Companies in the early stage tend to prefer having a smaller representative, but for the later stages, having a larger team that is able to make decision of its own can be advantageous.

Apart from talents, companies with a strong local presence can tap into their clients’ international network to help them get started in new markets -something Zeek has already been doing.

“[In] finding the right people with the right culture, we have [experienced] a lot of trial and error. A lot of failures, to be very honest. But I think we learn along the way. That’s where we find people you can work well alongside one another with a common goal of what you want to achieve,” said Fan.

The post Should you take Grab or Gojek? Founders reveal how they scale their business appeared first on e27.

SEA’s startup funding hits seven-quarter low in Q3 at US$3.7B
Startups in the region secured US$3.72B in VC funding in Q3, down 22% from the previous quarter and 36.4% year on year; On the other hand, the deal volume increased 11% Q-o-Q to 277 during the period.

Alta (Fundnel) acquires Hg Exchange
The acquisition will enable Alta to support the tokenisation and digital custody of alternative assets, creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities.

Exit route getting tougher for VCs in SEA as recession looms
According to Altara Ventures’s Gavin Teo, would-be buyers are focused on their own businesses and facing higher costs of capital, meaning less valuable shares and higher borrowing costs to finance acquisitions.

Ascend Vietnam closes debut early-stage fund at US$64M
In June, Ascend announced that it had exceeded the US$50M target for the fund, which will see seeding up to US$2M into 25 startups and following up with cheques of up to US$5M.

Amazon Vietnam says growth is defying global slowdown
Gijae Seong, head of Amazon Global Selling in Vietnam, said the local division has grown more strongly this year than in 2021, even as the company last week reported a US$2.5B Q3 operating loss for its international segment.

Bukalapak posts 86% YoY revenue growth in Q3 2022
It recorded US$57.6M in the quarter; This comes on the back of a strong performance from Mitra Bukalapak, an O2O solution that helps small retailers in the country procure physical goods to sell.

Wavemaker’s Paul Santos sees a crisis as a flight to quality
“If in a crisis your customers find less value in your product, then you have to ask yourself why. But if your customers continue to find value in your offering, then that’s interesting,” says Wavemaker’s managing partners.

Grab, StraitsX to test ‘purpose-bound money’ at SG fintech festival
The pilot will involve 5,000 trial participants that will use the vouchers through their preferred blockchain e-wallet app; Purpose-bound money enables senders to dictate conditions for the use of their digital SGD.

Indonesia’s IDX signs MoU with SG-based green fintech firm MVGX
IDX is preparing a trading system for a carbon exchange in Indonesia; MVGX will provide IDX with opportunities to explore its industry-grade software to establish IDX’s carbon exchange capabilities.

Hodlnaut founders hid financial documents, says court report
They withheld financial documents from Holdnaut’s Interim Judicial Managers (IJMs) at EY Corporate Advisors; This comes just a week after the IJMs and Hodlnaut co-founder Simon Lee filed affidavits against each other over allegations of dishonesty.

SCB 10X invests US$10M in SG crypto custodian RakkaR Digital
The startup provides institutions on the digital asset custody platform Fireblocks with a place to store and manage their Web3 assets; The firm’s institutional customers include ANZ, BNP Paribas, BlockFi, and Nexo.

‘Post-COVID-19, demand for home services have smoothened from weekend spikes to weekdays’
Rupam Biswas of Sendhelper said when there is no fear around COVID-19, more orders come in because people spend more time at home and are comfortable with home services.

Fundraising in time of crisis: Why SEA founders can remain hopeful
In the startup ecosystem, raising VC funding is often viewed as an important milestone that a startup must go through; however, it is important to acknowledge that not all companies will raise external funding.

5 smart ways to decarbonise supply chains and logistics with AI
Green logistics facilitates sustainable logistics operations by reducing energy consumption or using alternative energy sources for logistics processes across various logistics legs.

5 customer experience trends to consider in 2022
More businesses will leverage communications technologies enhanced by AI that help customer support teams do more with less; Businesses that are proactive instead of reactive to the needs and expectations of their customers will win customer loyalty.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

The post Ecosystem Roundup: SEA’s startup funding hits 7-quarter low in Q3; Alta buys Hg Exchange; Hodlnaut founders hid financial documents, court says appeared first on e27.

Born in the digital age, the Gen Z generation has never existed in a world without the Internet and social media. 

With new technologies, insights from historical events, connecting with people from various cultures, and knowledge of the current political climate – Gen Z is turning out to be the most diverse and educated group of individuals who have witnessed some of the most turbulent periods in recent history such as the Great Recession in 2008 and most recently, the COVID-19 pandemic.

These world events shaped Gen Z’s world views and perspectives, giving them a strong sense of being global citizens and prioritising different values.

Also read: SEA’s mobile-first population are spending all their time on mobile phones: Are you?

These views and perspectives directly influence their consumption behaviour. And as Gen Zs enter the prime time in their career, their purchasing power will increase substantially and their consumption behaviours will have a significant influence on the market.

By 2025, Gen Z will make up about 27 per cent of the global workforce, and would significantly if not completely change global consumption trends.

Individual expression and an ethical moral code as foundation

Gen Zs highly value their own unique personal identity and individual expression, while constantly searching for the truth, finding ways to solve conflicts through dialogues and diplomacy, and emphasising ethical behaviours. The COVID-19 pandemic also helped redefine Gen Zs’ future aspirations and values, highlighting the importance of digital adoption, personal connections, and sustainability.

As working individuals, Gen Zs place more importance on benefits such as work-life balance, mental health care, remote/hybrid work establishments, and meaningful work assignments in comparison to the previous generations. However, despite a growing emphasis on things like mobility, pursuing one’s dream job, as well as personal growth — competitive salary and compensation remain important factors to retain the Gen Z in the workplace.

Also read: The Big Leap: Bringing retention best practices across SEA

As consumers, Gen Zs put a premium on lifestyle and individual expression — to be themselves, rather than make purchases designed simply for physical needs. Consequently, their purchasing decision is more likely to reflect their values, not brand loyalty. Brands will therefore find it much harder to retain Gen Zs loyalty.

They are also conscious of the impact of their consumption and demand that marketers stick to their promises and uphold ethical practices.

Gen Zs utilise different channels to gain information and learn about new products. They are likelier to engage with brands endorsed by influencers. They discover and connect with their favourite brands and products via social media platforms. And they make purchases with their mobile apps or e-commerce platforms.

For Gen Z personalised recommendations from trusted individuals and entities are more likely to influence their purchase behaviour.

Discover more about the Gen Z and other new and unexpected markets with CleverTap’s The Big Leap Roadshow in Indonesia

As countries emerge out of the COVID-19 pandemic and settle into the new normal, it is time we change, learn, unlearn and relearn the market’s growth story: tapping into the vast potential of the vibrant Gen Z market and winning the new generation of customers’ trust and satisfaction.

The Big Leap Roadshow’s special panel discussion aptly titled, Retention Playbook: Gen Z and unexpected segments in the new normal, is a collaborative event between e27 and CleverTap happening at The Big Leap Roadshow in Indonesia. The programme will bring together experts in the market who have managed to leverage crises to achieve new heights and get ready for the next level of growth in 2023. 

Through the event, the participants will have access to over 12 on-ground sessions with industry experts and brand custodians deep diving into customer journeys and how brands can create customised solutions to retain them. Leaders in the industry will discuss strategies to scale businesses by increasing the revisits and repurchases from returning customers. Marketers will also learn about what tools and technology can help them create solutions that will attract customers and keep them coming back, cultivating a culture of brand loyalty.

Also read: How this cutting-edge technology helps fortify your crypto security

A significant portion of the panel discussion will be dedicated to uncovering the characteristics of Gen Zs and other unconventional segments as focal customers and learning how to convert them into frequent and loyal customers. The sharing can inspire participating business leaders, entrepreneurs, and investors to think outside the box and learn from the best practices in their corresponding sectors, generating new product and service ideas to serve Gen Z customers.

Marc-Antoine Hager, CleverTap’s Regional Vice President for Sales in Southeast Asia, is one of the panellists and  will share the company’s mission and its successful journey  even during the most challenging global economic situation. 

The Big Leap Roadshow in Indonesia will provide business leaders and entrepreneurs from one of Southeast Asia’s largest economies with valuable opportunities to network with over 100 like-minded entrepreneurs, key thought leaders, and investors. 

Participants will learn first-hand about success stories in customer retention and how to craft innovative customer experiences. Want to find out about new trends in the industry to learn how to align your strategies with customer preferences and adapt to the changing market context? Join us at the the Big Leap happening on November 10th, 2022 in Jakarta.

To sign up for the event, click here.

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Photo by cottonbro from Pexels

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This article is produced by the e27 team, sponsored by CleverTap

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.

The post Gen Z is redefining global consumption. Can companies keep up? appeared first on e27.

Singapore-based Fundnel, a leading digital marketplace for alternative investments, has acquired the blockchain-powered private digital securities exchange Hg Exchange (HGX).

The transaction details remain undisclosed.

Fundnel has also announced its rebranding into Alta.

According to a press release, the acquisition will enable Alta to support the tokenisation and digital custody of alternative assets. This will create an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate and luxury assets.

The deal will see HGX become a wholly-owned subsidiary of Alta. Alta will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders.

Following the acquisition, Hg Exchange will be renamed Alta Exchange. It will continue to be led by CEO Willie Chang and the existing Hg Exchange team, which will merge and augment Alta’s team.

Also Read: Fundnel, BRI Ventures to launch new US$50M+ fund for Indonesia’s growth-stage startups

The deal will enhance Alta’s service offering by bringing three core parts of its business under one roof — private market investment, trading of tokenised asset-backed securities, and direct access to funds managed by Alta.

Kelvin Lee, CEO and Co-Founder of Alta, said: “The Hg Exchange acquisition marks a new chapter in our journey to revolutionise private markets with a blockchain-powered digital exchange, bringing enhanced access and liquidity to alternative investments for all investors.”

“Our goal is to connect promising new opportunities with capital. Today, by standardising processes around our tokenised listings, we make investing in alternative cost-effective and transparent for investors,” he added.

Started in 2016, Alta gives investors direct access to invest and trade in a wide range of curated alternative assets, from direct investment into early to late-stage private companies, PE/VC funds, asset-backed securities of luxury assets, and real estate.

To date, Alta claims to have facilitated more than 600 transactions for opportunities like SpaceX, Grab, Gojek, rare whiskeys, and other alternative assets. It has generated over US$600 million in transactions and allowed access to over US$22 billion worth of mandated deals for its global investor community.

In 2021, blockchain and cryptocurrency giant Binance acquired an 18 per cent stake in Hg Exchange.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

The post Alternative assets marketplace Fundnel buys Hg Exchange, rebrands as Alta appeared first on e27.