SEA

Nearly 7 in 10 SMEs in Southeast Asia rely on startup capital from savings, family and friends: SME Industry Report

In Southeast Asia, about 70 percent of small and medium enterprises (SMEs) started their business with seed money raised from their personal savings and from family and friends’ financial support, said a report published by Funding Societies, a Southeast Asia’s unified SME digital finance platform.

Report: Southeast Asia consumer confidence on track for rebound as value-seekers embrace new “needs”

Southeast Asia consumer confidence on track for rebound as value-seekers embrace new “needs”, according to a report launched by Meta, Bain & Company, DSG Consumer Partners on Tuesday.

1982 Ventures expands regional team with key ecosystem and platform hire

1982 Ventures, the early stage venture capital firm focused on fintech and tech infrastructure in Southeast Asia, has announced the key hire of Amiyandra Suratman as Regional Venture Capital Ecosystem and Platform Lead based in Jakarta, Indonesia. Her responsibilities will be to support the fund with strategic stakeholder relations including portfolio…

Singapore’s CrossFund raises additional $1.5M in funding at a $47M valuation

Singapore-based Fintech startup CrossFund has raised additional $1.5 million in funding at a $47 million valuation. The firm has raised its fourth funding round in two years from family offices in the Middle East and North Africa (MENA) and Asia, BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and strategic angels.

Tracxn : Funding into FinTech SEA startups plunges 74 percent in third quarter

Total funding into FinTech startups in Southeast Asia (SEA) fell 74 percent to $229 million in the third quarter of 2023 from $887 million a year ago, making it the lowest funded quarter since 2020, Tracxn said Friday. The drop in funding was largely due to the absence of late-stage rounds in the third quarter of 2023.

AirAsia Cambodia partners Oriental Bank to offer innovative payment solutions for flight bookings

AirAsia Cambodia has on Thursday announced a strategic partnership with Oriental Bank Plc, a digital banking institution in the country, to offer innovative payment solutions for flight bookings tailored to the needs of Cambodian guests.

Adobe report finds Singapore firms lagging behind generative AI adoption

Adobe report finds Singapore firms lagging behind generative AI adoption. Brands in Singapore are prioritizing customer experiences to drive growth, but are challenged by reduced budgets.

Grab, GrabFood

Antitrust approval could be biggest hurdle for Grab’s potential acquisition of Foodpanda’s business, analysts say

Momentum Works, a venture outfit, estimated Foodpanda's Southeast Asia GMV at $3.1 billion in 2022. According to the same report, Foodpanda ranked second by market share in Singapore, Malaysia and the Philippines, and third in Thailand in 2022.

Tracxn : SEA tech startups witness lowest quarterly funding in five years

Southeast Asia (SEA) funding has seen a big drop of 74 percent in quarter-on-quarter in the third quarter, making it the lowest funded quarter in the last five years, said Tracxn on Thursday. the SEA tech startup ecosystem raised a total of $835 million in the third quarter, a huge 74 percent drop from $3.2 billion raised in the second quarter of 2023 and a…

Indonesia bans e-commerce transactions on social media platforms such as TikTok – report

The government said the move, which takes effect immediately, is aimed at protecting offline merchants and marketplaces, adding that predatory pricing on social media platforms is threatening small and medium-sized enterprises.