Boosting lives beyond work

• This month, 500-backed super app Grab announced an improved GrabBenefits programme and the GrabForGood x NAS Academy Creator Course.

• According to a statement, GrabBenefits is the first-of-its-kind benefits program in Malaysia. Initially introduced in 2017, it is designed to support its driver- and delivery-partners in multiple aspects.
• To address a wider variety of needs and concerns, the program has been updated to include:

1. Financial literacy classes by Standard Chartered through the Grab Partners app or online
2. Driver PayLater, a financial assistance program for partners’ monthly bills and necessities
3. GrabFinance articles and tips to educate partners on financial management
4. Insurance products protecting both drivers and passengers on every job
5. Easier savings or contribution plans for SOCSO (Malaysia’s social security protection for workers) and Zakat (a form of alms-giving treated in Islam as a religious obligation or tax)
6. Rebates for fuel and vehicle maintenance via a panel of partners nationwide
7. Grab Pit Stops for partners to rest

• The second program, the GrabForGood x NAS Academy Creator Course, was set up to identify and groom 100 budding content creators across Singapore, Malaysia, and the Philippines.
• In November, Managing Partner at 500 Startups Khailee Ng spoke to Nuseir Yassin, the man behind Nas Daily and Nas Academy, about his online school.
• Open to micro and small business owners including Grab driver and delivery-partners, the course aims to uncover stories on how they have adapted and persevered during this challenging period.
• The course will teach skills in scriptwriting, video filming, editing, and publishing. Participants will get personal feedback from trainers and access to a virtual digital lab through which they can get live feedback and tech support.
• At the end of the four-week course, participants will have produced 200 videos and selected ones will be uploaded on Grab’s and NAS Daily’s social platforms with some eight million followers.
• Graduates of the course will be inducted into the GrabForGood Fellows alumni, they will continue to receive mentorship and video creation opportunities, with access to resources and perks for a 6-month period.
• For more information, click here.

Putting secondhand cars first

• 500-backed used car trading platform Carsome revealed it is planning an initial public offering in the US by 2023.
• In an interview, chief financial officer (CFO) Juliet Zhu shared the startup is looking to the US because its stock market has shown appreciation and support for innovation in the used car industry. She revealed they are also hoping to see more support from other stock markets.

• Next year, the startup will focus on its core markets of Malaysia, Indonesia, and Thailand, with the latter two recording quick growth. By 2021, the two markets’ contribution is expected to increase significantly.
• According to Juliet, the startup’s priority is to roll out its B2C platform regionally.
• On its outlook for the used car industry in 2021, Juliet said, “We expect a sales upturn in 2021…Despite the ongoing economic uncertainty brought by the pandemic, the Southeast Asian automotive industry, particularly the used car segment, will remain strong in 2021, with more consumers opting for private vehicle ownership to maintain physical distancing with strangers as opposed to taking public transport or ride-sharing. We anticipate more customers will choose used cars over newer models for their affordability and value for money.”
• She revealed the startup recorded its highest revenue in history in Q3 of 2020, putting it ahead of projections to achieve group operational profitability as of November 2020.
• Read the full interview here.

Bots in human recruitment

• Business Process Outsourcing (BPO) company Alorica shared that during the pandemic, it was able to handle a 34% increase in recruitment volume while simultaneously lowering its cost and increasing candidate satisfaction.
• How? By moving their recruitment process to 100% online, thanks to 500-backed Talkpush’s automation.

• Prior to the pandemic, Alorica conducted its entire recruitment process on-site. However, lockdown measures and the shift to work from home (WFH) necessitated a change.
• Ana Purcell, recruiting coordinator for LATAM & the Caribbean at Alorica, shared that Talkpush’s live call feature made the transition easier: “We were able to call candidates from the computer, recruiters were able to call candidates even if they didn’t immediately have a landline.”
• To free up their recruiters’ time, Alorica let the Talkpush’s bots take care of the pre-screening steps so they could focus on candidates that met the prerequisites.
• Ana added Talkpush also helped to keep them connected to candidates no matter where they are in the recruitment process. Besides keeping candidates updated with their recruitment statuses and reminding new hires of their start date, Talkpush kept in touch with those that didn’t meet minimum requirements by sending automated messages to keep them updated with other relevant opportunities and also closes the conversation with unsuccessful candidates.
• “[Automating the recruitment process] has allowed us to be smarter with our team and our resources,” said Sunny Yu, senior director of Global Communications at Alorica. “The fact that we’re able to do more with less during a very unprecedented time, it’s remarkable — not just sheer volume, but the ability to be more detail-oriented faster is what makes this platform [Talkpush] so successful.”

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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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