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Southeast Asia's earned-wage access (EWA) sector sees its first exit as Kredivo acquires GajiGesa for about US$12 million, despite the latter's valuation drop. While this signals growing interest from major fintech firms, many EWA startups face challenges in achieving sustainable growth amid high operational costs and lengthy onboarding processes.
GoTo Group reported a narrowed net loss of US$56.3 million for Q4 2024, down from US$4.9 billion a year prior, despite a slight revenue drop to US$255.3 million. Adjusted EBITDA surged to US$24.3 million, reflecting growth in user numbers and a strong performance in its financial technology segment, which saw a 95% revenue increase. For 2025, the company anticipates full-year adjusted EBITDA between US$85.1 million and US$97.3 million.
GoTo Group reported a narrowed net loss of US$56.3 million for Q4 2024, down from US$4.9 billion a year prior, despite a slight revenue drop to US$255.3 million. The company's adjusted EBITDA surged to US$24.3 million, reflecting growth in user numbers and a strong performance in its financial technology segment, which saw a 95% revenue increase. For 2025, GoTo anticipates full-year adjusted EBITDA between US$85.1 million and US$97.3 million.
India's unicorn landscape has evolved rapidly, with 70 new billion-dollar startups emerging between 2021 and 2024, contrasting the decade it took to create the first 30. However, the pace has slowed, resembling a more methodical approach akin to Test cricket, as some unicorns face challenges, like Byju’s nearing insolvency. Meanwhile, Agros, a solar-powered irrigation startup, has raised $4.25 million to expand its services in Southeast Asia, aiming to partner with 30,000 farmers by 2027.
India's unicorn landscape has evolved rapidly, with 70 new billion-dollar startups emerging between 2021 and 2024, contrasting the decade it took to create the first 30. However, the pace has slowed, resembling a more methodical approach akin to Test cricket, as some unicorns face challenges, like Byju’s nearing insolvency. Meanwhile, Agros, a solar-powered irrigation startup, secured $4.25 million in funding to expand its services across Southeast Asia, aiming to partner with 30,000 farmers by 2027.
VinFast has partnered with Bank Negara Indonesia (BNI) to boost electric vehicle adoption in Indonesia. The memorandum of understanding, signed during the Vietnam-Indonesia High-Level Business Dialogue, includes financial solutions from BNI and special pricing for BNI employees from VinFast. Both organizations will also launch public awareness campaigns to promote EVs as VinFast expands its presence in the Indonesian market.
VinFast has partnered with Bank Negara Indonesia (BNI) to boost electric vehicle adoption in Indonesia. The memorandum of understanding, signed during the Vietnam-Indonesia High-Level Business Dialogue, includes financial solutions from BNI and special pricing for BNI employees from VinFast. Both organizations will also launch public awareness campaigns to promote EVs as VinFast expands its presence in the Indonesian market.
Indonesia's new sovereign wealth fund, Danantara, is adopting a cautious investment strategy, focusing on stability rather than high-risk startups. While it may consider later-stage Indonesian startups to address funding shortages, recent scandals in the sector raise concerns about viable exit opportunities. The fund's chief investment officer, Pandu Sjahrir, emphasizes a deliberate and slow approach to investment.
Danantara, Indonesia's new sovereign wealth fund, is adopting a cautious investment strategy, focusing on stability rather than high-risk startups. While it may consider later-stage Indonesian startups to address funding shortages, recent scandals in the sector raise concerns about viable exit opportunities. The fund's chief investment officer, Pandu Sjahrir, emphasizes a deliberate and slow approach to investing.
FlyOro, based in Singapore, is collaborating with airports to implement modular sustainable aviation fuel (SAF) blending systems, enabling producers to offer both standard and customized SAF without disrupting existing operations. Despite its potential to reduce emissions, SAF faces challenges such as high costs—2x to 4x more than conventional jet fuel—and varying regulatory support across regions, with Singapore's SAF mandate not taking effect until 2026. Startups in this sector are focusing on efficient scaling and proving SAF's viability in a traditionally slow-moving industry.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Ewa startups face challenges as consolidation trends emerge in Southeast Asia
02:00 13.03.2025
GoTo reports narrowed Q4 losses and significant EBITDA growth in 2024
13:18 12.03.2025
GoTo reports narrowed Q4 losses and significant EBITDA growth in 2024
13:18 12.03.2025
India's unicorn landscape shifts from rapid growth to steady evolution
10:30 12.03.2025
India's unicorn landscape shifts from rapid growth to steady evolution
10:30 12.03.2025
VinFast and BNI partner to boost electric vehicle adoption in Indonesia
16:21 11.03.2025
VinFast and BNI partner to boost electric vehicle adoption in Indonesia
16:21 11.03.2025
danantara's cautious investment strategy raises questions for indonesia's startup ecosystem
10:30 11.03.2025
danantara's cautious investment strategy raises questions for indonesia's startup ecosystem
10:30 11.03.2025
sustainable aviation fuel adoption faces challenges in cost and regulation
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