Daily Markup #7: Carousell gives back, Curlec co-founder in Forbes 30 under 30 list, and SEA seed…

And more Southeast Asian tech news.

Congrats, Zac!

  • Zac Liew, co-founder of Malaysia-based and 500 Durians-backed fintech startup Curlec, has been listed in 2020’s edition of Forbes 30 Under 30 Asia list.
  • Zac is among an esteemed group of 300 diverse talents representing industries from the arts to technology.
Credit: FirstClasse
  • According to Forbes’ write-up on the company, Curlec had processed approximately $25 million worth of transactions just 18 months after its launch in 2018.
Credit: Curlec
  • Curlec helps SMEs with collecting recurring payments with its automated platform, forgoing the need of cash and cheques.
  • Well done, Zac!

Carousell helps stranded Malaysian employees in Singapore

  • Under its #ChooseToGive campaign, mobile-focused marketplace Carousell is urging landlords on its platform to offer free short-term lodging to Malaysian employers in the city-state who are affected by the temporary lockdown in their homeland.
Credit: Carousell
  • Speaking to Marketing Interactive, Carousell said it has been reaching out to landlords and those who have responded will have their listings curated on the #ChooseToGive section of the Singaporean website.
  • “If you are a Malaysian citizen in need of a place to stay, just chat on the listings found in the #ChooseToGive Shelter collection to find a place to stay without charges,” part of the description for the campaign reads.
  • Separately, the Singapore-based company is also encouraging its community to donate items amidst the Covid-19 crisis.

SEA seed funding in March

  • Despite the proliferation of the Coronavirus, which has resulted in waves of dispirited sentiments on the global economy, there was substantial seed funding activity in Southeast Asia in March.
  • In an exhaustive list, e27 curates all the seed funding rounds that have happened last month.
  • Among the startups that announced funding include Novocall and ESPL.

Could Singapore be the next hotbed for Indian startups?

  • According to an analysis by Datalabs by Inc42, Singapore was regarded as one of the best Southeast Asian countries to cultivate Indian startups.
  • Out of the surveyed companies, 34.29% already have a presence in the country.
  • The piece further elaborated that Singapore and India have always made great efforts to collaborate. In 2018, the two countries inked memorandums of understanding (MoU) focusing on bilateral engagements to open up new avenues for Indian startups to enter the Singapore market.

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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.


This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. A 500 Startups fund may have a financial interest in one or more of the companies discussed.

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