Daily Markup #418: Vishal Harnal talks success in social commerce; Shoppa empowers female entrepreneurs to build micro-enterprises; Bukalapak partnership with digibank to benefit warungs

Credit: Shopify

One click away

  • The e-Conomy SEA 2021 report revealed that 80% of the 440 million people online in Southeast Asia have made an online purchase at least once. Fast forward to 2022, this habit is “locked and loaded”, according to The Ken.
  • Data compiled by the publication shows that there were at least 10 funding rounds closed by the social commerce sector, compared to only four in the year before.
  • “The first thing that quick commerce relies on is a greater impatience with people in waiting for things,” said Vishal Harnal, managing partner at 500 Global. “People want to buy wherever they are.”
  • Last year, 500 Global invested in RaRa Delivery, an instant delivery startup, which raised US$3.25 million in seed funding, and Dagangan, a social commerce startup, which raised US$11.5 million in its Series A round.
  • Read the full article on The Ken. Registration is required.

Credit: Gen.T

Uplifting entrepreneurs

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  • More than 90% of Vietnam’s population lives outside the country’s two major cities, Hanoi and Ho Chi Minh City. Many smaller towns don’t have a supermarket. In comes 500-backed Shoppa, which is on a mission to bring daily necessities to these areas.
  • The startup works with local women to build online micro-enterprises that deliver groceries to a market of 86 million.
  • Its value proposition? “Instead of spending US$25,000 to set up a mom-and-pop shop, [micro-entrepreneurs] get to sell a wider selection of products online for only US$25 in working capital,” said co-founder Geoffrey See.
  • Launched in Vietnam in May, he claimed that revenue grew 10x within two months.
  • Read the full interview on Gen.T here.

Credit: Bukalapak

A digital boost

  • Two 500-backed tech companies, Bukalapak and Grab, will become shareholders of Indonesia’s Bank Allo, a digital bank.
  • Bukalapak president Teddy Oetomo said it is adopting an open ecosystem approach and wants to collaborate with multiple banks, which he believes will benefit the warung (small family-owned business) and mom-and-pop stores in its network.
  • According to interim CEO Willix Halim, this partnership can enhance Bukalapak Mitra’s services and credit offerings to rural entrepreneurs, which will drive a deeper and wider penetration across Indonesia.
  • Bank Allo is expected to launch its digital services in February.
  • Read the full article on DealStreetAsia. A subscription may be required.

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