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Internet News

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Got 5 minutes? Know the latest news in Southeast Asian startups each morning through our free newsletter. No lengthy paragraphs, fun and easy to digest at a glance. Join 10,000 other founders, VC investors, and startup leaders who start their day with us. Subscribe for free today! Expect us in your inbox every Tuesday and Friday.

Industry
Internet News
Company size
2-10 employees
Type
Privately Held
Founded
2021

Employees at BackScoop

Updates

  • Dr. Bryan Tan is the CEO of COL Web, the international business center for COL Group Co., Ltd., one of China's leading digital content providers, covering web novels, anime, movies and AI content. He is a serial entrepreneur who started an advertising agency, a technology firm, a toys and collectibles business and even dabbles in smart IoT furniture. 🧐 What's something about you or your job that would surprise us? My Mandarin is terrible but I work for a Chinese company where I present, negotiate and communicate with my colleagues who speak perfect mandarin! 🏆 What has been the biggest highlight of your career so far? Bringing the Legend of Hei, a Chinese Anime to the SEA region and setting up microdrama content collaboration with regional partners such as Mediacorp. These are highlights because I've never been in the content industry so having to jump in, learn and achieve results within a year is a challenge I set to overcome... despite my limited mandarin fluency! 🔍 What's a startup trend or space you're watching this year? Micro short content such as microdramas and light animes (they tend to run only 1-2mins per episode). The newer generation consumers are all about swiping left and right, and giving you their attention span for 3 seconds. Especially AI assisted content, we are just at the beginning of the AI content revolution. 🍨 What's your go-to ice cream flavor? Peanut butter and chocolate from any brand but chunky monkey from Ben and Jerry's can never go wrong. We've edited this interview for length and clarity. Read More: https://lnkd.in/gPyWPFxb

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  • Fun, fun, funding! Singapore-based SME lending platform Funding Societies Singapore has just raised a $25M round! Founded in 2015 by Kelvin Teo, CPA ☀️ and Reynold Wijaya, they have licensed and registered offices in Indonesia, Malaysia, Thailand, and Vietnam. They’ve loaned more than $4B to over 100,000 businesses. They’ve generated an annualized payment gross transaction value (GTV) of more than $1.4B since expanding into its payments business in 2022. Investor check. Cool Japan Fund クールジャパン機構 (CJF) is the only investor. Cool Japan Fund クールジャパン機構 is Japan’s sovereign wealth fund, and the fund’s first investment in a Southeast Asian fintech. This takes the total funding they’ve raised to around $250M in equity. https://lnkd.in/gTNbEKwU 🔔 Be the first to see the latest SEA tech news! Subscribe for free on: www.BackScoop.com

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  • Here’s the latest unicorn. It’s Tyme Group! Co-founded by Coenraad (Coen) Jonker and Tjaart van der Walt, they’re a multi-country digital bank group across Southeast Asia and Africa. Now, they’ve just raised $250M in a Series D round, taking them to a $1.5B valuation. They’re the parent company of GoTyme Bank, one of the leading Philippine digital banks. Across the Group, Tyme now serves over 15M customers in South Africa and the Philippines. Investor check. Nubank led the round, investing $150M for a 10% stake. M&G plc’s Catalyst Fund subscribing for $50M. Existing shareholders, including the Gokongwei Group, Tencent, British International Investment (BII), Norrsken22, Blue Earth Capital AG, Lavender Hill, Ethos Fund, and Africa Fig Tree (Founders and Employees), are investing a further $50M. https://lnkd.in/g-y3gqxK 🔔 Be the first to see the latest SEA tech news! Subscribe for free on: www.BackScoop.com

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  • In the 1970s, a young girl was sent from Vietnam to the Soviet Union to study dairy processing. That woman is Mai Kieu Lien, the current CEO of Vinamilk. Today, Vinamilk is the sixth largest dairy brand globally. It's valued at $3B with 16 factories and 14 dairy farms. So, how did Vinamilk grow from a small operation to a global dairy brand? 🥛 Dairy roots Mai Kieu Lim attended the Moscow University of Meat & Milk Processing Technology. After graduating in 1976, she returned to Vietnam and joined a new state-owned dairy company. Vinamilk started with a few factories, producing condensed milk. Mai quickly proved her potential. 👣 A smart step forward Vinamilk grew, and Mai saw more opportunities for innovation. So, in 1983, Mai made a bold move, launching a yogurt product. People were not confident because households still made their own yogurt. "But my concern was the level of nutrition that was good for the body," said Mai, who herself has yogurt daily. The product was an instant hit! Mai became CEO in 1993. Vinamilk began to introduce new products and expand. By 2006, it was listed on the Ho Chi Minh City Stock Exchange. 🚀 Milking it The company’s success in Vietnam pushed them to look for new markets. In 2010, it invested in a dairy farm in New Zealand, and in 2014, it acquired another supplier in California. Making international investments exposed the company to higher standards and better technologies. At the same time, they improved their distribution model. Salespeople sell directly to supermarkets and stores instead of wholesalers, cutting out the middleman. But Vinamilk realized they needed a fresh look to stay relevant. 👀 A new look That’s why in 2023, Vinamilk underwent a major rebrand. The new brand identity showcases determination, boldness, and authenticity. They created a new logo with a smile on the "i" to show care and added a milk drop in the "a" to highlight their dairy roots. The packaging was redesigned. New graphics included hand-crafted visuals to reflect authentic Vietnamese life. At the end of 2023, net profits increased by VND 472B (~$18.5 million)! 🌟 A lasting legacy Vinamilk is committed to growth and innovation. It's the core of their corporate culture. This drive led to operating 15 dairy farms and 17 factories today. They export to over 60 countries worldwide! Vinamilk offers more than 250 products of all kinds. But they’re not stopping there. They have pledged to reach net-zero carbon emissions by 2050. Mai has come a long way from studying dairy overseas to becoming the CEO of a multi-billion-dollar global company. Her leadership shows that innovation, adaptability, and a commitment to sustainability can help a business not only thrive in the present but also leave a lasting legacy. Read More: https://lnkd.in/gvv2dz8h

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  • Time to see SEA! Singapore-based CarDekho Group SEA is an auto-financing platform offering services like used car financing, dealer inventory funding, and more. They’re the SEA arm of India’s CarDekho Group, and they just raised $60M in their first external funding round! Investor check. Navis Capital Partners and Dragon Fund led the round! Read more: https://lnkd.in/gA5-V2B7 🔔 Be the first to see the latest SEA tech news! Subscribe for free on: www.BackScoop.com

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  • Wenhao D. is the co-founder of Smilie, a company redefining corporate gifting to be more fun, sustainable, and measurable. Backed by VCs like Antler and founders of companies like Union Gas, PickUpp, and Circles.Life, Smilie is the first in the region to offer curated gift sets powered by its proprietary Gifting Automation Platform, designed to save time, drive revenue, and guarantee savings. 👋🏼 How would you explain your job to someone outside tech? We reinvent outdated corporate swag and boring hampers into stylish, engaging, and curated gift sets, leveraging technology to elevate physical gifts into personalized digital experiences—something previously limited to gift cards. Our tech solution streamlines the process for sales, marketing, and HR teams with full automation, effortless traceability, and zero hassle—all with a simple click. 🧐 What's something about you or your job that would surprise us? I got expelled twice from school. 🏆 What has been the biggest highlight of your career so far? The first 12 months of building Smilie were incredibly challenging—sales were near zero, and rejection from clients was constant. Many were either reluctant to try something new or failed to grasp the potential of our solution. Ironically, they continued to believe that spending $10,000 on water bottles and tote bags at trade shows still generates meaningful ROI in today’s world. 🔍 What's a startup trend or space you're watching this year? Direct-to-consumer brands will continue to grow in the coming years as technology dismantles traditional distribution barriers across regions. Meanwhile, legacy brands will struggle to understand new consumer behaviours, constrained by outdated mindsets. 💼 What advice would you give someone starting out in your industry?  Understand your niche, sometimes the more boring the better. Most of the time, we're not the smartest nor the hardest working folk. But in a boring and niche enough industry, you might just be lucky enough to have little to zero competition. 🎥 What's your favorite movie/TV show?  3 Idiots. 🍨 What's your go-to ice cream flavor? Pistachio. Dopa Dopa is pretty good. We've edited this interview for length and clarity. Read more: https://lnkd.in/gAK2DWqU 🔔 Be the first to see the latest SEA tech news! Subscribe for free on: www.BackScoop.com

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  • Nofi Bayu Darmawan is the founder and CEO of Komerce, an end-to-end e-commerce enabler for Indonesian SMEs. They’ve empowered more than 700+ village youth by training them in the e-commerce field and work with SMEs to streamline and strengthen their digital ecosystem. Komerce has been EBITDA positive since 2022 and is backed by investors like Achmad Zaky (Founder, Bukalapak), Indigo (A Telkom Indonesia arm) and 500 Global. 👋🏼 How would you explain your job to someone outside tech? I’m building an end-to-end e-commerce Operating System (OS) for Indonesian SMEs to streamline processes and cut costs. My team and I are doing this through the Komerce ecosystem. We support SMEs by providing skilled talent (Komtim) for digital commerce. We recruit young talent from Central Java, particularly Purbalingga Regency, one of the region’s lowest-income areas, to work on e-commerce operations. By creating e-commerce job opportunities, we’re reducing unemployment in Central Java and helping urbanize rural areas by connecting them with larger cities through e-commerce. We’ve also launched systems for shipping management (Komship and Kompack), partnering with delivery services to ensure smooth operations. Managing multiple e-commerce platforms can be a challenge for SMEs, so we offer marketplace management services (Komplace) to simplify the process. Komerce offers a fully integrated e-commerce solution for SMEs, and we’re continuously working to strengthen the digital SME ecosystem in Indonesia. 🧐 What's something about you or your job that would surprise us? When I first started Komerce in my rural hometown of Purbalingga Regency, Central Java, the conditions were far from what you’d expect for a tech startup. Wifi was scarce, and instead of sleek office spaces in high-rise buildings like those in Jakarta, I set up our first office in a modest house. Villagers, curious and eager to learn, would gather around with their portable laptops as I trained them in e-commerce operations. One day, a local school teacher walked in, thinking we were offering wifi as a service. She saw so many people huddled with laptops and assumed it was a hotspot. That moment has stuck with me, it was both funny and humbling. It was surprising for many in the village, as we were introducing a completely new type of business compared to the traditional ones in rural Indonesia. 🏆 What has been the biggest highlight of your career so far? When I left my position at Indonesia's Ministry of Finance, it was a decision that a lot of people couldn’t understand, especially those from my rural hometown. 🍨 What's your go-to ice cream flavor? Chocolate. We've edited this interview for length and clarity. Read More: https://lnkd.in/gkQHhv-c

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  • Here’s KAST! Co-founded by Raagulan Pathy and Daniel B., they’re a Singapore-based fintech that lets you spend, receive, or save in crypto easily across borders—specifically, through stablecoins. Stablecoins are cryptocurrencies whose value is pegged, or tied, to that of another currency, commodity, or financial instrument. According to KAST, stablecoins have a ton of growth with over $170B in supply, and $8.5T transaction volume in Q2 2024 by over 125M users. Now, they’ve just raised a $10M seed! Investor check. HongShan Capital Group (HSG) and Peak XV Partners led the round. Several angels and Partners at DST Global and Goodwater Capital also joined in! https://lnkd.in/giMvGnxZ 🔔 Be the first to see the latest SEA tech news! Subscribe for free on: www.BackScoop.com

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  • Your home, your terms. Meet Singapore-based Cove, co-founded by Sophie Jokelson, Luca Bregoli, and Guillaume Castagne. They help you find flexible rentals and co-living spaces across APAC. Oh, and they’ve just raised another $4.5M! Founded in 2018, they have properties in Singapore, Indonesia, South Korea, and Japan. They have close to 6,000 rooms and properties. Investor check. Ashish Manchharam (Founder, 8M Real Estate), who is joining Cove as an advisor, as well as existing investors, like Eurazeo and Keppel Ltd. invested. They last announced a $6.5M SGD (~$4.84M) Series A in 2020. https://lnkd.in/g_TBEhaZ 🔔 Be the first to see the latest SEA tech news! Subscribe for free on: www.BackScoop.com

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