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As digital banking rises to prominence in Indonesia, tech companies from various sectors have been dipping their toes in the game, partnering with and sometimes even acquiring digibanks. Leveraging their greater and easier access to capital, online and peer-to-peer lenders have also joined the fray. However, some question whether this move toward the digital banking space might spell doom for the lending scene. Will digibanks soon render online lenders obsolete?  Or is there room for coexistence in the future? On this episode of Deep Dive, Tech in Asia journalist Budi Sutrisno discusses what lies ahead for Indonesia’s online lending scene. Featured reporters: Budi Sutrisno, a Tech in Asia journalist based in Jakarta Essential reading: Why Indonesia’s tech giants find digital banks irresistible As digibanks rise, will Indonesia’s online lenders become obsolete? The tech companies bankrolling Indonesia’s digital banks

GoTo Group, the new entity formed through the Gojek-Tokopedia merger last year, listed on the Indonesian Stock Exchange this month. While the company’s shares quickly soared past its initial offering price, it also fell just as quickly in a manner reminiscent of the recent public listings of other Southeast Asian firms such as Bukalapak and Grab. Is this just how Southeast Asian tech stocks perform on the public markets? On this episode of Deep Dive, Tech in Asia journalists Ardi Wirdana and Aditya Hadi Pratama discuss GoTo’s IPO and what its performance might mean for the wider tech and startup scene in Southeast Asia. Featured reporters: Ardi Wirdana, a Tech in Asia journalist based in Jakarta Aditya Hadi Pratama, a Tech in Asia journalist based in Jakarta Essential reading: GoTo Group’s financial health in 4 charts GoTo’s IPO numbers split opinions, but investors may warm to share price GoTo begins $1.1b IPO process Org Chart: The people leading GoTo Group GoTo shares up by 15% in initial trading, giving valuation of $32b GoTo’s shares decline to IPO price, triggering greenshoe option GoTo IPO marks win for 2 early SEA VCs, and may supercharge the region’s VC scene Get your tickets to Tech in Asia's Product Development Conference '22 now by going to techin.asia/pdc

Indonesian online lender UangTeman has had a tough few years. Its name has been in and out of headlines since 2018, with stories either focusing on the company’s financial troubles or its apparent recovery. But what’s at the core of UangTeman’s troubles? On this episode of Deep Dive, Tech in Asia journalist Putra Muskita discusses the embattled online lender’s current plight and whether it can pull itself back from the brink of collapse. Featured reporters: Putra Muskita, a Tech in Asia journalist based in Jakarta Essential reading: Exclusive: Indonesian online lender UangTeman had a rough 2018. Here’s what happened After a tough 2018, Indonesian online lender UangTeman looks to be bouncing back Indonesian online lender UangTeman raises $10m in series B round UangTeman on the brink of collapse, pins hope on white knight Troubled UangTeman finds potential buyer, seeks OJK license extension Investors in UangTeman struggle to claw back their money Indonesia’s UangTeman loses online lending license

As blockchain-related projects gather steam across Asia, the region’s countries are adopting crypto in unique ways. While Vietnam’s strong gaming culture has driven its crypto boom, India’s NFT gold rush has been powered by Bollywood film stars. However, regulation is still a tough nut to crack across the region. In this episode of Deep Dive, Tech in Asia’s Thu Huong Le, Nikita Puri, and Melissa Goh discuss how countries across Asia are navigating the world of crypto. Featured reporters: Thu Huong Le, a Tech in Asia journalist based in Vietnam Nikita Puri, a Tech in Asia journalist based in India Melissa Goh, a Tech in Asia journalist based in Singapore Essential reading: Explaining Vietnam’s crypto boom Inside the tsunami of NFTs in India Is Dubai stealing Singapore’s thunder in crypto? The Philippines: Asia’s next crypto hub? How NFTs are going from megabytes to mega bucks

Grab, one of the region’s most valuable tech companies, made its Nasdaq debut last month after a record US$40 billion merger with Altimeter, a New York-listed blank-check company. However, the super app’s first few weeks of public life haven’t been the easiest, with its shares ending at US$7.12 apiece last week – a roughly 45.5% discount to their opening price in December. In this episode of Deep Dive, Tech in Asia’s Terence Lee, Aditya Hadi Pratama, and Simon Huang discuss Grab’s ride to the public market, its financial performance over the past year, and its prospects for the future. Featured reporters: Terence Lee, editor-in-chief at Tech in Asia Aditya Hadi Pratama, a Tech in Asia journalist based in Jakarta, Indonesia Simon Huang, Tech in Asia’s industry analyst based in Singapore Essential reading: Grab’s financial health in 8 charts Grab shares dip over 20% on Nasdaq debut despite strong opening Grab shares may drop further as more stocks flood the market Examining Grab’s incentive-fueled growth

Dark stores – more widely known as microdistribution hubs – have been gaining prominence in India and Southeast Asia, with grocery delivery startups like Dropezy and Zepto raising millions of dollars in funding and setting up hundreds of centers across the region. The future of this segment is brighter than its name suggests. By 2025, India’s consumables market is projected to hit roughly US$1 trillion while Southeast Asia’s online grocery market is expected to reach US$11.9 billion – a prime opportunity for operators of dark stores. In this episode of Deep Dive, Tech in Asia’s Nikita Puri discusses the ins and outs of this rising phenomenon, the key players leading the segment, and how dark stores can change the way we buy groceries - or anything else we might need. More information on today's episode here: https://www.techinasia.com/deep-dive-bright-future-dark-stores Featured reporter: Nikita Puri, a Tech in Asia journalist based in India Essential reading: Dark stores light up red-hot grocery delivery market Stanford dropouts’ firm bags $60m to speed up grocery delivery in India Indonesian e-grocery startup raises $2.5m to deliver orders in 20 minutes Episode sponsor: HVR 6.0 allows organizations to incorporate real-time movement into new and existing data management strategies, load massive tables much faster to speed up the adoption of new analytics systems, configure network encryption to make it secure by default, and dramatically simplify the deployment of initial data replication. Sign up now to take a test drive of HVR 6.0: https://techin.asia/hvr6

After recently closing a US$400 million series D round from an investor consortium led by SoftBank Vision Fund 2 and Warburg Pincus, Singapore-headquartered Advance Intelligence Group joined the unicorn club. Its most well-known service? Atome, one of the region’s most prevalent buy now, pay later (BNPL) platforms. However, the group has a lot more under its belt, offering services ranging from digital lending and risk management to merchant software services that span 12 markets across Asia, Greater China, and Latin America. In this episode of Deep Dive, Tech in Asia’s Melissa Goh sheds light on Advance Intelligence, discussing the common thread that runs through its various business units, how it fared during the pandemic, and the company’s plans for the future. More information on today's episode here: https://www.techinasia.com/deep-dive-atomes-enigmatic-parent-company Featured reporter: Melissa Goh, a Tech in Asia journalist based in Singapore Essential reading: The enigmatic unicorn behind BNPL firm Atome Southeast Asia’s biggest buy now, pay later players StanChart to pour $500m into Atome as part of strategic partnership Singapore’s Advance Intelligence Group enters unicorn club after SoftBank co-led $400m round Episode sponsor: HVR 6.0 allows organizations to incorporate real-time movement into new and existing data management strategies, load massive tables much faster to speed up the adoption of new analytics systems, configure network encryption to make it secure by default, and dramatically simplify the deployment of initial data replication. Sign up now to take a test drive of HVR 6.0: https://techin.asia/HVR6

Over the past year, financial services major Stripe has been stepping up its efforts to enter the Indonesian market, targeting key positions for early hires. Among them is former Grab Indonesia executive director Ongki Kurniawan, who’s now leading Stripe’s charge in the country. However, Indonesia is bustling with ambitious, freshly funded fintech players such as Xendit, Doku, and Gojek’s Midtrans, and this could make Stripe’s foray into the Southeast Asian archipelago all the more challenging. In this episode of Deep Dive, Tech in Asia’s Ardi Wirdana discusses the payment giant’s Indonesia ambitions, the hurdles it faces in establishing a foothold in the market, and the impact that Stripe could have on the local fintech scene. More information on today's episode here: https://www.techinasia.com/deep-dive-stripes-rough-road-indonesia Featured reporter: Ardi Wirdana, a Tech in Asia journalist based in Indonesia Essential reading: Stripe readies Indonesia entry, but the road just got rougher Indonesia fintech hits hurdle with new rules on foreign control Episode sponsor: HVR 6.0 allows organizations to incorporate real-time data movement into new and existing data management strategies, load massive tables much faster to speed up the adoption of new analytics systems, configure network encryption to make it secure by default, and dramatically simplify the deployment of initial data replication. Sign up now to take a test drive of HVR 6.0 at https://techin.asia/hvr6  

It wasn’t too long ago that in India, Kashmiri apparel sellers carrying large, red-checked bed sheets full of handmade embroidered shawls, dress materials, and stoles would spend their days knocking on door after door, trying to sell their wares to people in the neighborhood. These sellers took a direct-to-consumer (D2C) approach to business, doing away with middlemen by hawking their merchandise to customers themselves. That same business model has evolved, and it’s been seeing a boom in investments in India. Consumer brands are raking in hundreds of millions of dollars from prominent venture capital firms like Sequoia and Temasek. However, there are some key differences between today’s D2C businesses and the door-to-door sellers of yesteryears. On this episode of Deep Dive, Tech in Asia’s Samreen Ahmad discusses the emergence of India’s D2C decade, the sheer potential within the sector, and the hurdles that players in the scene may face in the future. More information on today’s episode here: https://www.techinasia.com/deep-dive-indias-d2c-boom Featured reporter: Samreen Ahmad, a Tech in Asia journalist based in India Essential reading: The decade of D2C has just begun in India In Indonesia, a golden age of VC-backed consumer brands may be imminent Episode sponsor: HVR 6.0 allows organizations to incorporate real-time data movement into new and existing data management strategies, load massive tables much faster to speed up the adoption of new analytics systems, configure network encryption to make it secure by default, and dramatically simplify the deployment of initial data replication. Take a test drive of HVR 6.0 now: https://techin.asia/hvr6

Founded in 2010, Bukalapak initially had trouble raising funds because “nobody wanted to invest,” co-founder and former CEO Achmad Zaky said during a fireside chat at the Tech in Asia Conference in 2019. He even considered closing the business after its first year, but he persevered instead and Bukalapak became a unicorn around eight years after its launch. Last week, the ecommerce player notched another milestone: It went public on the Indonesia Stock Exchange – the first unicorn to do so – boosting its valuation to approximately US$7.5 billion. On this episode of Deep Dive, Tech in Asia’s Aditya Hadi Pratama and Simon Huang discuss the early days of Bukalapak, dive into the numbers behind its landmark initial public offering, and posit what’s in store for the company’s future. More information on today's episode here: https://www.techinasia.com/deep-dive-bukalapaks-ipo-big-deal-indonesia Featured reporter: Aditya Hadi Pratama, a Tech in Asia journalist based in Indonesia Simon Huang, Tech in Asia’s industry analyst based in Singapore Essential reading: Bukalapak’s IPO, the largest ever on IDX, takes its valuation to $7.5b Visual: Bukalapak’s decade-long journey to IPO Bukalapak is using this deck to make its case for a $1.5b IPO 9 highlights from Bukalapak’s confidential investor deck Bukalapak’s seed round pitch deck How Gojek and Bukalapak found the initial spark that turned them into giants Mitra Bukalapak’s roadblock: Indonesia’s FMCG giants Being no. 2 isn’t a bad thing: Bukalapak’s Achmad Zaky For more stories on Bukalapak, click here Episode sponsor: HVR’s technology empowers organizations to realize their full potential with continuous, high-volume data movement between cloud-based and on-premise systems. Visit HVR’s website to get fresh data when you need it: https://techin.asia/hvr

[This episode was produced in partnership with CleverTap] In 2014, Sunil Thomas, Anand Jain, and Suresh Kondamudi had left their jobs at Indian media conglomerate Network18 to start up CleverTap. The mobile marketing platform’s birth was inspired by a recurring “painful problem” that the trio faced as engineers whenever marketers wanted to personalize their website or app in order to engage with users. So the team built CleverTap to enable just that. While the early days of the company were challenging - it took more than two years before it would make any money - the co-founders knew they had a revolutionary product on their hands. Despite that, they never imagined it would become the multimillion-dollar business that it is today, with revenue numbers doubling every year for the past four years. On this special episode of Startup Snapshot featuring Thomas, CleverTap’s CEO, tells the story of how the business came to be, sheds light on the early days of its operations, and discusses the lessons he’s learned from his experience. More information on today's episode here: https://www.techinasia.com/idea-spawned-multimilliondollar-business Featured interviewee: Sunil Thomas, CEO and co-founder of mobile marketing platform CleverTap Essential reading: Why We Changed Our Brand Name to CleverTap For more of Tech in Asia’s coverage of CleverTap, click here: https://www.techinasia.com/tag/clevertap Episode sponsor: CleverTap helps businesses build valuable long-term relationships with customers by giving them access to real-time behavioral analytics and a platform to engage users on the right channels at the right time, with a message that resonates. Visit CleverTap’s website to learn more: https://bit.ly/clevertapctatia

For years, HungryGoWhere was the go-to platform for anyone looking for grub and sustenance in Singapore. But last month, the site announced that it’s ending its 15-year run, bidding loyal users - the few who were still around - farewell and thank you. On this episode of Deep Dive, Tech in Asia’s Melissa Goh discusses the events that led to HungryGoWhere’s shuttering, insider accounts about how the company was run, and a potential sale that could give the platform a second wind. More information on today's episode here: https://www.techinasia.com/deep-dive-hungrygowhere-sizzle-steak Featured reporter: Melissa Goh, a Tech in Asia journalist based in Singapore Essential reading: Singtel’s restaurant review portal HungryGoWhere to close in July Why did HungryGoWhere go nowhere? Not dead yet: Singtel looks to sell HungryGoWhere after receiving offers Why many of Singtel’s digital bets failed after a decade of trying A history of Singtel’s successes and failures in reinventing itself For more stories on Singtel, click here Episode sponsor: HVR is joining Tech in Asia for a virtual event on July 14, where chief technology officer Mark Van De Wiel will discuss how to accelerate your business with real-time data delivery, alongside Geoff Soon, South Asia managing director of cloud data firm Snowflake; Andrew Psaltis, Asia Pacific director of data analytics and AI/ML at Google; and Kai Xin Thia, senior data scientist at the London Stock Exchange Group. Sign up now to discover how to harness the power of cloud data to accelerate your business growth and increase revenue opportunities with HVR.