Gabriel Budi Sutrisno

Indonesia

International Correspondent at Tech in Asia

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Articles

Singapore‚Äôs digital banks get 2023 report card, miss profitability mark

Jul 2, 2024 | techinasia.com | Gabriel Budi Sutrisno

IN FOCUSIn today‚Äôs newsletter, we look at:How Singapore‚Äôs five digital banks stacked up against each other in 2023Foreign lenders, the cornerstone of Indonesia‚Äôs P2P lending sectorHow a Chinese insurtech firm expanded to Southeast Asia by acquiring a Vietnam-based firmWelcome to The Top Up! Delivered every fortnight via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in fintech. Get it in your email inbox by registering here.
Zepto gets $665m funding at $3.6b valuation, nears EBITDA profitability

Jun 20, 2024 | techinasia.com | Gabriel Budi Sutrisno

Zepto, an instant grocery delivery firm based in India, has put US$665 million into its cart. The round saw participation from new investors like Avra Capital, Lightspeed, and Avenir, as well as existing ones like Glade Brook, Nexus, and StepStone. This brought Zepto‚Äôs valuation to US$3.6 billion, the company said in a statement. Just nine months earlier, it raised US$235 million at a US$1.4 billion valuation.
Malaysian interior design marketplace builds pre-series A round up to $1.5m

Jun 20, 2024 | techinasia.com | Gabriel Budi Sutrisno

Homa2u, a Malaysian platform selling new or unused building materials and interior finishes, has secured US$625,000 in pre-series A money from Asia Fund X, an early-stage VC fund backed by MSW Ventures and Pavilion Capital. This brings up Homa2u‚Äôs total pre-series A funding to US$1.5 million. Existing investors in the company include Quest Ventures Asia Fund II, Worldwide Management Solutions, and Qhazanah Sabah Berhad, an investment division of Sabah‚Äôs government.
Former Lazada Logistics Indonesia CEO joins SiCepat

Jun 20, 2024 | techinasia.com | Gabriel Budi Sutrisno

Philippe Auberger, who previously led Lazada‚Äôs logistics arm in Indonesia for over three years, has announced that he joined logistics startup SiCepat as COO. Auberger brings decades of industry experience to the startup, having tackled logistics issues in Indonesia since the early 2000s. Before being the country CEO for Lazada Logistics Indonesia, he served as the country manager of Lazada Express between 2015 and 2020, managing last-mile delivery.
US set to sue TikTok on alleged childrenās privacy violations

Jun 20, 2024 | techinasia.com | Gabriel Budi Sutrisno

The US Department of Justice (DOJ) is gearing up to sue TikTok, focusing on the platformās alleged infringements of childrenās privacy. This consumer protection lawsuit follows an investigation by the US Federal Trade Commission (FTC), Bloomberg reported, quoting anonymous sources. The infringement of childrenās privacy is one of the two claimed violations by TikTok the FTC referred to the DOJ.
Lines blur between Asian insurtech firms and incumbents. What's at stake?

Jun 17, 2024 | techinasia.com | Gabriel Budi Sutrisno

‚Äú‚Äč‚ÄčAll successful startups eventually become the things that they hate, which is an incumbent,‚ÄĚ says Walter de Oude, founder and former CEO of Singapore-based insurtech firm Singlife. In the ‚Äúhighly capital-intensive‚ÄĚ and regulated world of insurance, insurtech companies often need to acquire existing industry players to obtain licenses, and scale. In some cases, it‚Äôs also fueled by startups getting funded by traditional firms to spur their growth.
Rocketindo looks beyond bootstrapping to propel expansion dreams

Jun 15, 2024 | techinasia.com | Gabriel Budi Sutrisno

Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia‚Äôs tech and startup community. Get the newsletter in your inbox everyday with a premium subscription. Hi readers,If you‚Äôre a founder considering market expansion, here‚Äôs a friendly reminder: Industry expertise alone isn‚Äôt enough to succeed. You need to understand the specific context and environment of the market you want to go into.
Wise posts $1.3b revenue, over 200% growth in profits for FY 2024

Jun 13, 2024 | techinasia.com | Gabriel Budi Sutrisno

Wise, a UK-based fintech company, recorded a 24% year-on-year increase in revenue to 1.1 billion pounds (US$1.3 billion) for its financial year ended March 2024, according to its financial statement. Of this total, around US$274.9 million came from the firm‚Äôs Asia-Pacific business. This makes the region Wise‚Äôs second-best performing market worldwide, behind only Europe (excluding the UK) with its US$411.8 million revenue.
AWS deploys $230m to boost generative AI startups worldwide

Jun 13, 2024 | techinasia.com | Gabriel Budi Sutrisno

Amazon Web Services (AWS) has announced that it will invest US$230 million in generative AI startups globally. Part of this commitment will be set aside for the second cohort of the AWS Generative AI Accelerator. The 10-week program will benefit around 80 startup founders worldwide, including 20 from the Asia-Pacific region. This is an almost 4x increase from the 21 startups that participated in the first cohort in 2023.
Invoicing platform Paper.id nabs series B funding as transactions grow 30x

Jun 13, 2024 | techinasia.com | Gabriel Budi Sutrisno

Since 2017, Paper.id has helped Indonesian businesses through its one-stop platform for receivables and payables. Now, the invoicing firm said that it has secured an undisclosed amount of series B funding to expand its solutions. The round was led by Australian VC firm Square Peg, with participation from SMBC Asia Rising Fund and Argor Capital, an existing investor. This followed a more than 30x increase in transaction processed value in 2023, compared to 2021, the company said in a statement.