GoTo set to wrap up US$2B funding round, eyes IPO in 2022
But regulatory delays threaten to push its listing plans to early next year, sources told Reuters; The delay comes as Indonesia’s Financial Services Authority (OJK) weighs new listing guidelines for tech firms to offer dual-class shares that confer different voting rights.

Indonesia’s IPO rush to start a golden decade in tech
The entry of big tech companies such as Bukalapak into the capital market would have a “trickle-down” effect on the rest of Indonesia’s tech industry; Many companies, even ones below US$100M in market cap or soon-to-be unicorns, are becoming confident to go public, say experts.

Insiders reveal the key reasons behind Razer Pay’s demise
It was alleged that the top brass within Razer did not have the necessary expertise to run an e-wallet business; While it has hired local leaders to build their e-wallet business in Malaysia, there were often friction and a lack of trust between the top brass and the local leadership team.

Ex-Lazada execs’ Indonesia-focused D2C insurance startup in Lifepal receives US$9M Series A
Investors are ProBatus Capital (lead), Cathay Innovation, Insignia Ventures, ATM Capital, and Hustle Fund; Lifepal acts as a one-stop insurance marketplace offering over 300 policies across health, life, automotive, property, and travel.

Philippines’ Yield Guild Games raises US$4.6M from a16z to accelerate ‘play-to-earn’
Other backers are Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and Gabriel Leydon; The funding will be used to continue YGG’s investment in digital assets in games and virtual worlds across the play-to-earn ecosystem, while expanding its global community of over 48,000 gamers.

Shopee is on track to eclipse Alibaba’s entire international e-commerce business by 2022
Sea’s guidance for full-year results is estimated at US$4.7B to US$4.9B in revenue in 2021, which would already beat Alibaba’s international results during the calendar year 2020; This gives further credence to the allegation that Jack Ma’s brainchild is failing badly outside of China, struggling to secure a stronger foothold abroad.

How Indonesia is emerging as a regional hub for digital banking
Digital banks in Indonesia have all the tools to sustain their progress as the country has the largest economy in Southeast Asia; Although Indonesia has one of the largest potential consumer bases, low financial literacy and aggressive user acquisition could stand in the way of its success and profitability.

SEA gears up for open finance movement
A report says that in the region, central banks are eager for open finance; It notes however that the strategy varies from one country to another with some preferring a market-led approach, while others have embraced a regulatory-driven approach.

All you need to know about the Payment Services Act and how it impacts S’pore crypto users
The PSA is a forward-looking and flexible framework for the regulation of payment systems and payment service providers in Singapore; This means that the act is still an active work in progress and being debated in the Parliament, along with inputs from industry players.

Alternative protein company INSEACT raises US$1.3M
Investors include ADB Ventures, a European Family Office, Loyal VC, INSEAD Asia Angels Club; It specialises in producing sustainable insect protein for aquaculture, starting with shrimp feed; INSEACT uses waste from palm oil operations as a raw material to feed the insects.

How digital banking is driving financial inclusion in SEA
As digital natives, digital banks can leverage technology to lower the cost of funding and provide a better customer experience; Digital banks that have successfully leveraged technology have reported saving 20 to 30 per cent more on their per-account operation costs compared to traditional banks.

VCs, IEOs, and crowdfunding: How the likes of Sky Mavis manage good relationship with each investor
Startups such as Sky Mavis are finding flourishing alternatives to access capital but have realised that managing investor relations is a different ballgame.

How should SMEs and startups prepare to handle a ransomware attack?
The biggest misconception that exposes SMEs to cyber-attacks is the sense of “security through obscurity”; Organisations can start by keeping systems and patches up to date to ensure the attacker has fewer opportunities to leverage vulnerabilities in your computing environment.

Co-working startup JustCo bags US$74M from Daito Trust to fuel Japan, APAC expansion plans
The move comes after JustCo signed an agreement in Singapore to handle 30,000 square feet of T-Grande-owned real estate, strengthening its asset-light strategy by managing spaces instead of taking on long-term leases.

Product-led growth means changing your whole business — not just the ‘product’
If you want to make your product able to sell itself, you will have to invest more in how you design the product journey and think about potential pitfalls. Some of your first hires will therefore be designers that really understand the customer interface and how to make the most impact.

3 Pinoy startups picked for QBO-Microsoft inaugural accelerator programme
The startups are Steer, Mayani, and Last Mile Inc.; The three startups will receive intensive training, dedicated mentorship, a financial grant from QBO, and strategic support to ensure that they scale and grow faster; The six-month programme will start in September 2021.

Image Credit: GoTo Group

The post Ecosystem Roundup: GoTo set to close US$2B funding; Indonesia’s IPO rush to start a golden decade in tech appeared first on e27.

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