Helping the mom-and-pops

• 500-backed ecommerce startup Bukalapak announced a collaboration with Komunitas Warteg Nusantara (Kowantara) to help Indonesian traditional food stalls — known as warteg. The partnership aims to help the warteg survive the pandemic through the online marketplace’s digital platform.
• Members of Kowantara are welcomed to be a part of the 7 million-strong Mitra Bukalapak network to purchase supplies for both their business and personal needs. They will also have the opportunity to participate in online business management programs.
• According to the Kowantara chairperson, a survey by the Asian Development Bank (ADB) revealed more than 20,000 warteg (almost 50% out of the total of 50,000 warteg in Indonesia) were forced to close down in 2020 due to the pandemic.
• Rudy, a kiosk owner from Bandung, shared that through the Mitra Bukalapak app, he increased his monthly income from ~US$3.45 to ~US$550.
• Read the full story on Tempo here.

Unlocking a new region

• 500-backed Esports Players League (ESPL) has partnered with telecommunications company REDtone Digital Services (RDS) to bring electronic gaming to Pakistan.
• Together, the two companies will focus on grassroots tournaments and officially bring popular gaming titles such as PUBG Mobile, Valorant, and Mobile Legends to the Pakistani market.
• Under the partnership, ESPL and RDS will be organizing a series of esports tournaments across key cities in Pakistan throughout the year. They will also host multiple international tournaments every month, offering cash prizes to local players.
• According to RDS, this partnership is a strategic move to enable Pakistani youths to experience new gaming platforms and environments and also provide them an opportunity to network and compete globally.
• Read the full article on ProPakistani here.

A deep dive

• In an interview with The Straits Times, 500-backed second-hand marketplace Carousell revealed it is looking to establish a deeper presence in Asia while creating a stronger system to earn consumer trust.
• “In Hong Kong, we are beginning to see some traction… In the Philippines, through M&A (mergers and acquisitions) activity in the last two years or so, we also have a large base in which we see a lot of potential,” said Carousell Singapore’s managing director Ng Chee Soon. He added that Indonesia and Taiwan are also growing markets for the startup.
• Chee Soon said that as more customers buy things online amid the pandemic, Carousell will work on improving trust in its platform through measures such as its Certified Electronics Programme, which covers warranties and returns for some devices.
• He said that the company will also continue to hire for tech, software, and product development roles.
• Read the full interview on The Straits Times here.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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