JJ Beh

[Published in April 2024] 🌟 Mapping Indonesia's Fintech Landscape: https://lnkd.in/g_2MZR_2 Despite a funding decline since 2021, the fintech sector in Indonesia remains vibrant with new startups and major deals. Discover the key players and investment trends shaping this space. 🚀 Indonesian Fintech: A Resilient Sector. From notable funding rounds to regulatory challenges, we delve into the evolving fintech landscape in Indonesia. Stay updated with the latest trends and key players.

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When every dollar counts, business owners are rightfully pushing back on the cost of payments! But is cold hard cash the solution? Everyone is carrying less cash and going to ATMs far less frequently these days. Embarrassingly I have just SG$4 in my wallet right now 😳. So what's the solution? It's already in the palm of your hand📱. A2A payments enable instant ⏩ low-cost 💰 payments from your mobile phone. Platforms like UPI in India, PromptPay in Thailand, DuitNow in Malaysia and FPS in Hong Kong are leading the charge globally, giving consumers the convenience of "digital cash" and giving businesses a low cost payment option. If you want to save on payments, divit has POS, e-commerce, in-app, invoicing and subscription payment solutions for your business. #digitalcash #realtimepayments #retail #a2a #ecommerce #invoicing

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I don't remember exactly when I first encountered "Buy Now, Pay Later," but I remember what I was doing: buying lunch on Grab. Having a company offer to front me for my burger and fries seemed a little odd, but I understood the business rational. The Covid-19 pandemic was still ongoing, so a little extra credit could go a long way to boost sales. But in the years since, the market for BNPL services has contracted and funding has tanked. While some firms have exited the market, others are still going strong, especially those in the e-commerce sector. You can read about it here in our latest report.

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YouTrip

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From National Pride 🇸🇬 to SME Evolution: My Vision for Edenity As our founding Prime Minister Lee Kuan Yew once said: “We are a small place in size, yes, in geography. But in the quality of the men, the administration, the organization, the mettle in a people, the fibre – don’t try.” These words never fail to give me goosebumps. My family noticed my tears during Singapore's National Day celebration, and there are a few personal reasons for that. Growing up in a single-parent family, my mum single-handedly raised four of us. My dad is the same age as Singapore, and old wounds tend to resurface during this time of the year. My life goal is to be the father I never had, a goal shaped by my personal passion, as the divorce was attributed to multiple failed businesses. This has driven my interest in helping traditional SMEs that have stood the test of time but lack a succession plan or the next generation’s interest to take over. I believe that my passion and vision for Edenity reflect the kind of impact I wish to have on Singapore's SMEs. I know that I can achieve this, but I need more help, partners, and collaborators. Association of Small & Medium Enterprises Edenity focuses on Mergers & Acquisitions for SMEs, especially those businesses that are often overlooked by investors and investment bankers. Why? Simply put, it's often too much work for too little money. Traditional businesses face three main challenges that hinder further revenue growth and potential mergers: 1️⃣ Lack of proper accounting and internal controls 2️⃣ Lack of online presence, especially in media and events 3️⃣ Lack of optimization through AI and ESG reporting For the first two, Edenity aims to dive deep through industry research and competitor analysis to understand these sectors inside and out as we do have clients in those industries. For ESG reporting, although I have 4 years of green financing experience and fundraising for an ESG reporting tech firm, this aspect will be on hold till next year. AI is not my domain, but I hope to find companies like Voltade that can support this endeavor. Enterprise Singapore provides substantial support through various grants, and multiple companies have stepped up to the challenge. However, the primary hurdle for these companies is education and, ultimately, convincing them to adopt new approaches. While not rallying an entire nation like LKY did, I hope to rally Singapore SMEs to evolve and grow, even if it’s just a percentage of his impact. --------------------- I’m Eldred and I named my company after my 20-month-old son, Eden. At Edenity we’re all about shaking things up in the world of Mergers & Acquisitions for Singapore SMEs. We’ve got a special focus on two exciting industries where traditional SMEs can truly thrive: 🎥 Media & Events 🏢 Corporate Services Join us on this journey of growth and learning, and let’s make a powerful impact on Singapore’s economy together.

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The turnover of transactions in digital tenge will exceed 200 billion (US$401.1 million) by the end of the year, said Binur Zhalenov, chief digital officer and advisor to the National Bank chair at the Nov. 15 Financial Congress. Digital tenge platform helps to ensure transparent government spending, reduce the cost and speed up cross-border payments Zhalenov said that the digital tenge platform helps to ensure transparent government spending, reduce costs, speed up cross-border payments and introduce other innovations, reported Kazinform. Kazakhstan is a global leader in non-cash payment penetration, and he said the whole process of getting a financial service in the nation, from opening a bank account to final settlements, has been digitized. “The National Bank has created a sustainable interbank infrastructure, processing almost 87% of all non-cash transactions in the economy. Our identification data exchange center helps financial institutions provide services in a remote digital format, processing nearly 2.5 million requests monthly,” he noted. According to Zhalenov, banks are no longer just traditional financial institutions, but rather a large digital ecosystem, including e-commerce services, government services and much more. The digital tenge is a digital form of the Kazakh currency that will be issued as a unique digital sequence (tokens) or electronic records stored on special electronic wallets. Last year, Kazakhstan launched the initial phase of the digital tenge project and full-scale implementation is expected by the end of 2025. In celebration of national currency day – tenge, on Nov. 15, the National Bank announced plans to launch a Digital Investment Coin in the first quarter of 2025. https://lnkd.in/dP88AEGs

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🚀 **Empowering Southeast Asia: The Funding Societies Journey** 🚀 In the competitive landscape of Southeast Asian finance, Funding Societies has emerged as a beacon of hope for small and medium-sized enterprises (SMEs). These businesses are the backbone of the region, representing almost **50% of its GDP** and driving **job creation and innovation**. Yet, they struggle to access the capital they need, often deemed too risky by traditional banks. *Did you know that Funding Societies has successfully raised **$25 million** to enhance its lending capabilities for these SMEs?* This recent funding success reflects a strong commitment to supporting local businesses and fostering economic growth. ### 📊 A Personal Connection to SMEs Reflecting on my own experiences, I remember the challenges my family faced as we navigated a small business venture. Identifying viable financing options was always daunting. Funding Societies is addressing this pain point head-on, offering loans ranging from **$500 to $2 million** tailored to meet various business needs. Their innovative approach eases burdens and allows entrepreneurs to focus on growth instead of being caught in financial webs. ### 🌟 Key Features of Funding Societies - **Diverse Financing Options**: From micro-loans to asset-backed business loans, they cater to various stages of business development. - **AI Automation**: Their use of AI improves the lending process, ensuring faster responses for businesses that need urgent funding. - **One-Stop-Shop**: Unlike competitors, they provide extensive financial services, combining short-term financing with payment offerings. ### 🤔 What Do You Think? How has your experience been with accessing funding for business ventures? Have you encountered similar challenges as those faced by SMEs in Southeast Asia? Your insights would be invaluable! 💬 ### 🚀 Call to Action Let’s support ventures like Funding Societies that prioritize economic growth in Southeast Asia. If you know someone who is leading a startup or SME, encourage them to explore funding options that can help elevate their business! *Remember, small businesses aren't just financial entities; they are stories of ambition and resilience. Let’s empower them to thrive!* #FundingSocieties #SMEs #Fintech #EconomicGrowth #SoutheastAsia #Entrepreneurship

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📉 A Year of Challenges and Resilience for SEA Fintech Southeast Asia’s fintech sector witnessed a significant funding drop in 2024, falling to US$1.6 billion. That’s a 23% decrease from 2023 and a staggering 75% decline from 2022’s peak. Late-stage funding bore the brunt of this downturn (-31%), highlighting the challenges posed by macroeconomic headwinds, rising interest rates, and geopolitical tensions. However, not all was bleak. Certain segments flourished: 🔹 Payments funding surged by 53%, raising US$366 million. 🔹 Cryptocurrency funding rose by 20% to US$325 million. 🔹 Banking tech saw an impressive 63% increase, securing US$265 million. Singapore led the funding activity with US$955 million, while Jakarta and Bangkok followed suit. Despite the decline, the long-term outlook remains optimistic. A young, tech-savvy population, government initiatives, and increasing demand for financial inclusion are expected to fuel the sector's future growth. What does this mean for investors and startups? Let’s discuss. 👇 https://loom.ly/MZiPOUE #Fintech #SoutheastAsia #StartupEcosystem #FundingInsights #e27News

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Meet Julian Wong. He co-founded RICE Media in 2016, and ran it with his team for 5 years, before deciding to venture into the world of employment and human development, working in organisation design & development work at Open Government Products for a couple of years. Then, he took a sabbatical, and incidentally, just got back to RICE Media recently to focus on partnerships and new avenues for growth. And, that is incidentally how we connected, because Julian and I are both passionate about men's mental health, our well-being, and how we can make the space a better one for men. Comfortable, to be in our own skin, discuss issues close to our hearts, and all in a world that perhaps doesn't allow that to happen very often. We have some things we are working on in this space, and then some, so stay tuned! Back to Julian's career path so far - it is a funny thing that people often think that sticking to a certain career path is the way to success. Three things come to mind when I ponder on this: 1/ There is no single career path. Many people have meandering careers (mine included). There is so much to learn, and stick to one career path can be great, but it can also silo you into a certain industry and role, when the world has so much to offer, and so much for people to learn. 2. There is no single definition of success. Too often, we deem success as material success. And, don't get me wrong, we all want that. I want that. But, I do think that having the ability and capacity to discover new things is so valuable. Us white collar folk often only see a few ways to success, and that in itself can stunt us in our growth. 3/ Founders have to stick with their company to the end. That's BS. You know what's the beauty of going out and coming back? It's just like travel - there is so much to see and learn out there that you can take back and apply to your life, your business. I still think the best example is Steve Jobs. He left, came back, and built something even better with the lessons he learned while he was away. Grateful that we met and have been on the same wavelength on what we want to build! Excited for the plans that we have in store, and hope they come to fruition in the next few months as planned. Stay tuned! —— 👨🏻‍💻 Follow me, Ee Chien, for more writing and sharing on entrepreneurship, tech, finance, life and current events.

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Fintech venture capital investment in the Philippines! Xander Dave Ceballos’s article in the Manila Bulletin covers IFC - International Finance Corporation’s $7 million investment in local fintech firm First Circle. This move aims to enhance SME lending and financial inclusion. #Venture #VentureCapital #VC https://lnkd.in/e8JzNiXu

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How do you “show” the value of blockchain and its link with financial inclusion with live footage? That was one of the big questions for me heading into this Against All Odds documentary, especially with StraitsX, the Singapore-hq'ed digital asset infrastructure fintech that recently received a MPI license from the MAS for stablecoin issuance, playing a key role in the story of Hendra, Tianwei, and Fazz I didn’t have time to do up an entire animation explainer on stablecoins and felt that doing that would not jive with the raw vibes I was going for with the documentary I definitely had the chance to cover the topic with the Fazz founders in our interviews — and both Hendra and Tianwei did quite the job explaining stablecoins “like I’m 5” and its implications for making payments/remittances faster and cheaper for the underbanked in Indonesia (not all of it is in the final cut but enough to do the job imo) — but that was just the "telling" part. I still need to supplement their storytelling with "showing" somehow. Two film sequences came up throughout the shooting process that helped with this challenge. One was Tianwei doing a demo of a stablecoin swap. The other was the impromptu walk he and Hendra took in the suburbs of Jakarta, where we came across several street vendors using QRIS (the national QR code standard for Indonesia) to accept payments. The shots that came out of these two sequences (including the ones in the photo below) helped to supplement the story Hendra and Tianwei told of the potential for O2O infrastructure in Indonesia (i.e., the app-enabled agent network Fazz Agen had built over the years) to be a impactful distribution channel for digital asset infrastructure from Singapore (i.e., the stablecoins and the blockchain tech behind it from StraitsX). It’s quite the story of cross-border ASEAN collaboration in a region where often the nuances of each market often presents a barrier to expansion. In this case, the unique advantages of building in different markets continue to present new approaches to financial inclusion. Watch the documentary on YouTube: https://lnkd.in/g4G9jzXt Or read about it on the Insignia Ventures Partners website: https://lnkd.in/gRUfbf46 

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US$1.5 trillion is needed to fund Southeast Asia’s Green Economy transformation. This week at the Singapore FinTech Festival, there is discussion about the role of Green Finance and the challenges to unlocking its full potential: addressing regulatory and data gaps, mitigating the risks of greenwashing, and building capacity. Here are a few highlights in Environmental Services and Finance, from our Southeast Asia Green Economy Landscape report. The 7 key sectors covered in the report are: 🔹 Nature and Agriculture 🔹 Energy 🔹 Environmental Services and Finance 🔹 Transportation 🔹 Materials and Manufacturing 🔹 Waste Management 🔹 Built Environment What to learn more about how startups are helping to accelerate the region’s transition to a sustainable future? Download the report here: https://lnkd.in/gmHcFxEZ. Adam Lyle | Derrick Chiang | Divakar Subramaniam #southeastasia #greeneconomy #sustainability #decarbonisation #startups #greenfinance #ESG

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I had the privilege of sharing Bintang Capital Partners’ gender lens investing work alongside a panel of successful women, each sharing their own unique DEI journey and success stories, from a young and thriving startup to an established institution such as Maybank. At Bintang, Justice, Equity, Diversity and Inclusivity (JEDI) is not just a core investment strategy but it also informs the manner we conduct our business operations, from our talent attraction and retention strategy, to our choice of vendors and partners. From an investment perspective, ceteris paribus, companies that champion JEDI (whether formally or informally) are viewed favourably as having a competitive advantage over their peers that do not have similar strategies. Data gathered from our portfolio companies indicate that companies with a diverse and inclusive leadership and workforce are more resilient during economic disruptions, have lower attrition rate and are more likely to experience growth in workforce and revenue. As an impact investor, we are strongly supportive of our porfolio companies pursuing initiatives such as offering employee share option plan, prioritising hiring of local talents and internal promotion, paying living wage (not just minimum wage) and employees upskilling, among others. While such initiatives no doubt require the expense of resources (though manageable through proper planning and assistance from value investors), these are critical enablers for empowering and uplifting employees (especially those hailing from less privileged backgrounds), which will have long term multiplier effect on our economy. This is crucial as Malaysia strives to ascend to high income status by 2030. Thank you again to LeadWomen for the invite, and I look forward to further collaboration in 2025!

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