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Chinese e-commerce giant JD.com has started quietly piloting its cross-border platform Joybuy in the UK, marking its push into the European market. The move signals JDs ambitions to capture a slice of the UKs 127 billion ($163 billion) retail e-commerce market in 2024 the third-largest globally.
The company says this will make it easier for active community members to "better adapt to local market conditions and maximize earnings." " Prior to this move, users in a country like Vietnam would pay the exact same price as folks here in the US.
There’s a large education gap in Vietnam between urban centers, which have access to more resources, and the smaller cities and rural areas where 80% of students live. Before founding Edupia, Hung spent 10 years as director of digital services at Viettel, the largest telco in Vietnam.
CoderSchool, a Ho Chi Minh City, Vietnam-based online coding school startup, announced today $2.6 In Vietnam, the demand for IT talent is dramatically increasing by 47% a year, while supply is only increasing by 8% year-on-year. Vietnam after-school learning startup Marathon raises $1.5M pre-seed round.
The home ownership rate in Vietnam is about 90% , but many millennials are struggling to join that number. Part of Y Combinator’s latest batch, Homebase was founded in 2019 to give prospective buyers in Vietnam an alternative to traditional financing. Homebase co-founders Phillip An and Junyuan Tan.
Vietnam is revising its energy plans to focus more on large solar farms and less on reliance on coal and natural gas. But Vietnam also is emphasizing expansion of large solar farms to meet soaring demand for power generation. But while it’s building clean power capacity, Vietnam is also ramping up use of coal.
The startup’s goal is to create “small Silicon Valleys” across Vietnam, with educational centers that help prepare students of all ages for careers in tech. MindX also received another round of debt financing from Beacon Fund, an impact investment firm focused on women-owned and led businesses in Southeast Asia.
The startup’s goal is to create “small Silicon Valleys” across Vietnam, with educational centers that help prepare students of all ages for careers in tech. MindX also received another round of debt financing from Beacon Fund, an impact investment firm focused on women-owned and led businesses in Southeast Asia.
This might not seem like enough to move significant amounts of product, but in many Southeast Asian markets, social commerce sellers are making up an increasingly large portion of e-commerce. In fact, according to a recent Bain report , social commerce accounted for 65% of Vietnam’s $22 billion online retail economy last year.
Kilo , a Vietnam-based B2B e-commerce platform that connects wholesalers with micro, small and medium enterprises (MSMEs), wants to digitize the local retail value chain via technology. “In Kilo was founded in 2020 by Narayan, former CMO of Groupon, vice president of Coupang and chief business officer of TIKI Corporation.
Now Infina , which calls itself the “Robinhood of Vietnam,” is announcing an oversubscribed $2 million seed round. of people in Vietnam have invested in stocks. But according to the Vietnams Securities Depository , about 500,000 trading accounts were opened during the first five months of 2021, a 20% increase from all of 2020.
A Manila-headquartered startup called CloudEats , which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia. . We are taking the best practices along with key learnings to our next market launch.” .
Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. Fuse uses mobile applications to offer an agent-focused service, B2A (Business to Agent/ Broker).
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. We’re really looking to diversify holdings, leveraging learnings from one market to another,” said Sosrodjojo.
To get more data for its latest Southeast Asia Tech Talent Compensation report, which covers startup hiring in Singapore, Indonesia and Vietnam, Monk’s Hill Ventures teamed up with Glints , one of its portfolio companies. Commercially in Southeast Asia, you can’t stay in a single market unless it’s maybe Indonesia,” said Yeo. “If
Jenfi , a “growth-capital-as-a-service” platform, can provide online businesses with revenue-based financing in a little as a day. The new funding will be used to grow its customer base in Singapore, Vietnam and Indonesia, and expand into new markets in Southeast Asia, like Malaysia, the Philippines and Thailand.
Peeba says the lack of B2B-focused online wholesale solutions and tech infrastructure hampered Asia’s antiquated B2B retail, wholesale market in business growth and new market entries during the pandemic. The platform brings both emerging and traditional brands to the world of local retail in Asia.
Loship’s new funding will be used to expand into new cities and grow verticals like B2B deliveries for small food and beverage businesses and retail stores. Mio, a social commerce startup focused on smaller cities and rural areas in Vietnam, raises $1M seed. to connect farmers and F&B businesses in Vietnam.
“The exceptional capacity of Langoo in its local business with Riiid Tutor was the main reason for this acquisition,” said co-founder and CEO of Riiid YJ Jang. By leveraging this investment, we will capture broader Japanese market opportunities. The company expects to address local remote learning and education in the market.
Food Market Hub co-founders Anthony See and Shayna Teh. Malaysia-based Food Market Hub is a cloud-based platform that connects food and beverage (F&B) outlets directly to suppliers, making it easier to communicate and manage orders. This brings Food Market Hub’s total funding to $4.7 million so far.
At a time when the global economy has been under pressure, Taptap Send saw business grow eight-fold, the company said. Taptap Send believes that its unique place in the market is that it has built not just the easiest, but the most reliable system to initiate, manage and receive those transfers.
It will also use the funding to continue its expansion in overseas markets, including Vietnam, where Toss launched last year. Merchants can use Toss Payments to send and receive online payments and manage their business finances. I think Toss Bank is really well-positioned to disrupt the whole loan market.”. listing.”.
The startup, which launched its app in Vietnam last year, announced today it has raised $1 million, led by the Estonian Business Angels Network (EstBAN). Jeff currently claims more than 300,000 users in Vietnam. ” Payfazz invests $30M in Xfers as the two Southeast Asian fintechs form Fazz Financial Group.
Its play-to-earn business allows players to earn rewards by playing games like Axie Infinity, Townstar and Spider Tanks, and also get training from professional esports players. Ampverse CEO Ferdinand Gutierrez said that the company’s revenue has grown 125% over the last 12 months, during which it expanded into Vietnam and India. .
The company’s business model is similar to Divvy Homes and ZeroDown in the United States and, in fact, Divvy Homes co-founder and former CEO Brian Ma and Zerodown chief operating officer Troy Steckenrider III are investors in Homebase. YC-backed Homebase is an alternative to traditional mortgages for home buyers in Vietnam.
In addition, Toni works on several digital-economy-related initiatives that support the scaling of digital businesses, stimulate startup ecosystems and accelerate the digital transformation of key industries in Africa, Asia, the Caribbean and the Middle East. Jamil Wyne. Contributor. A glimpse into Singapore’s current startup ecosystem.
It is a portfolio of loans to hundreds of small businesses in Singapore, which is the target market Validus serves, Goel added. . Last year, it acquired KlearCard, Singapore’s business payments and expense management platform. . In January, the company crossed a significant milestone of over $1 billion (SG$1.6
The new capital will be used on Glints’ expansion in Singapore, Indonesia, Vietnam and Taiwan and hiring for its product and engineering teams. One of the solutions the report highlighted is hiring teams based in different Southeast Asian countries to address talent crunches in specific markets, like Singapore.
Part of the funding will be used to expand into new markets, like Thailand, Malaysia and Vietnam. For people who aren’t familiar with Southeast Asia’s fragmented payments landscape and the challenges its poses for businesses, Wijaya explained that “while the U.S. This friction means lost business for companies.
My first post in this series described how businesses should start when considering expansion into Asia, which is home to some of the largest and fastest growing markets in the world. For example, should they hire in-market consultants, an expatriate based in a hub city, or partner with a local player?
Tridge says its valuation has soared in about a year because it has generated revenues in Tridge’s fulfillment service business since September 2021 after raising the Series C round. That means users can check current and previous wholesale prices, volume, and market share of every agricultural product Tridge covered. and Europe.
Brankas , an open banking startup for Southeast Asian markets, is entering the new year with a $20 million Series B. As a result of increasing adoption, he said that “large multinational financial service providers like Visa are embracing open finance, even if it may threaten their legacy business in the short term.”.
“Buy now, pay later” (BNPL) startups have gained traction by targeting consumers, but BNPLs for businesses are also starting to take off. It allows small businesses to take out short-term credit to purchase fast-moving consumer goods (FMCG) inventory. One example is Fairbanc , which is based in Singapore but focused on Indonesia.
Its seed round was led by Nexus Venture Partners, with participation from Insignia Venture Partners, Arka Venture Labs, Better Capital and Vietnam Investments Group. Demand Sage raises $3M to make sales and marketing data more accessible. Most of its early users are primarily late-stage SaaS companies, Vijayvergiya said.
It will also double down on existing markets such as the U.K./Europe. Asked what the upside of the Wirecard acquisition was, the Railsbank founder says it helps maintain an orderly market in the U.K. Asked what the upside of the Wirecard acquisition was, the Railsbank founder says it helps maintain an orderly market in the U.K.
Founded in 2021 by Arindam Roy, Rajath KM and Kartik Mishra, Pillow is focused on emerging markets like Africa and Southeast Asia. It also recently expanded into Nigeria, Ghana and Vietnam, among other markets. Create a social media punch list for cryptocurrency marketing.
Hwang said that its business model is similar to Outschool, the San Francisco-based after-school marketplace for children. Glorang will use the Series A to expand its service to Japan and Malaysia by the fourth quarter of this year and Taiwan, Thailand and Vietnam in the following years, Hwang said. pre-seed round.
Small businesses in the U.S. Bzaar , a business-to-business cross-border marketplace, is connecting retailers with over 50 export-ready manufacturers in India. That’s why we think this business needs to exist.”. now have a new way to source home and lifestyle goods from new manufacturers. Traditionally, small U.S.
The Vietnam War and Big Data: A Case Study in Machine Learning Robert S. It was his work as Secretary of Defense during the Vietnam War, though, that connects him to what we now call data science and big data analytics. At a high-level, winning the Vietnam War What is the key uncertainty he hoped to solve? Fair question.
The company, which was founded in 2013, also plans to strengthen its global operations across six countries — Thailand, Indonesia, Vietnam, Myanmar, Cambodia, and the Philippines. About 70% came from Thailand while 30% came from the international market, the co-President Thamavaranukupt said.
Panasonic, the consumer electronics giant that also develops solar panels, air conditioning units and many other products for its sizable buildings and construction business , is taking an investment in Aldagram. The global construction management software market is expected to reach $23.9 billion in 2031, up from $9.3
The startup offers services including “Farm Morning,” an app that aggregates reliable data using AI, giving more than 500,000 farmers insight into crop lifecycle, and “Sinsun Market,” a B2B fresh produce marketplace for over 10,000 enterprise buyers, the company said. It also built smart farming software and hardware for farmers.
The final piece of my four-part guide to expanding a business into Asia is tailored more towards local startups and a big issue that affects many of them: raising funding from investors. If your business is based in Asia, despite a potentially tougher hill to climb, you’re still much more likely to be successful raising funds locally.
They can’t list those designs publicly on their website or sell through popular business-to-business platforms such as Alibaba and IndiaMart, as doing so would risk giving away the proprietary property to rivals. The way their business works is that buyers offer feedback and provide specifications for exactly what they want.
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