Secure the servers

• A study by global computer security company McAfee shows the number of cyberattacks on cloud platforms has increased globally by more than six times between January and April 2020.
• Cybersecurity plays a vital role in protecting digital real estate in today’s connected world. With people spending more time online due to the pandemic, it’s even more crucial for companies to recognize the need for cybersecurity in their businesses.
• “Covid has enabled a lot more attacks, specifically around the exchange of information and data tracking,” said Paul Hadjy, CEO and co-founder of 500-backed cybersecurity firm Horangi, in the “Money Minds” segment on Channel NewsAsia.
• Founded by ex-Palantir cybersecurity experts Paul Hadjy and Lee Sult in 2016, Horangi offers the latest in product innovation and technology to protect organizations. Its clients include Go-Jek, Ninjavan, and Shopback. Horangi’s flagship cloud protection solution, Warden, was recently introduced to Google Cloud Platform (GCP).

• For 500-backed online classifieds marketplace Carousell, educating its employees is key to keeping the platform secure.
• Co-founder Lucas Ngoo said it’s important to protect their users as more interaction and data is passed on virtually. The company also uses moderators to ensure listings are accurate and check for signs of fraud.
• “We also use data and machine learning to detect patterns beforehand. It could be users signing up multiple accounts or the difference in pricing,” Lucas added.
• Vishal Harnal, partner at 500 Startups, believes the cybersecurity market has great potential, especially with the proliferation of handheld devices and IoT machines.
• “It’s mission critical for companies around the world to have technological infractures,” Vishal said.
• Catch Vishal, Horangi, and Carousell on Channel NewsAsia here.

Going big with Unilever

• 500-backed fintech company Fairbanc is currently working with Unilever, Sosro, and Belfoods in Indonesia to provide inventory financing options using a PayLater model.
• The PayLater model is fully integrated into the FMCG’s offline order-taking app used by Unilever’s field staff and requires no smartphone or loan applications.
• In less than a year, Fairbanc has completed seven different pilots with Unilever in Java and Sumatra islands, with zero defaults on loan repayments.

• Unilever has also seen an increase in average sales of 41% for the 481 participating merchants, largely contributed by Fairbanc’s proprietary data science.
• After proving its product-market fit across urban, suburban and rural areas, Fairbanc is gearing up to a large national roll-out with Unilever: 5K outlets in Q4, 35K in 2021.
• More than 80% of the Fairbanc borrowers are unbanked and almost 70% of businesses are operated by women. As a form of recognition, Fairbanc was named among the cohort of startups driving inclusion and resilience in underserved markets.
• Fairbanc is currently raising to scale to 100k merchants and US$1m MRR over the next year and a half.
• For more on Fairbanc, visit its official website.

Start your day right

• Founders of 500-backed Fabelio and eFishery recently shared their go-to productivity hacks.
• Christian Sutardi, one of the co-founders of Fabelio, starts his day by catching up on reports while enjoying a glass of iced americano.
• “Then I moved to the living room, have a glass of water, and check the news headlines of the day. Usually, I would read international news on Bloomberg. I start with international politics, Covid-19 updates, the stock market, and any other news that Google recommends. My news preference includes furniture industry, startups, stock market, football, and other sports,” Sutardi said,
• Christian officially starts his day at 8.30am and focuses on completing the most pressing tasks first.

• On the other hand, Gibran Huzaifah, CEO and Founder of eFishery, spends his mornings working out and learning new things.
• “The morning hours are the brightest, most exciting time of the day, that is why I always start with activities that make me feel pumped: Exercise, planning the day. The exercise can include a jog around the house or a seven-minute workout. It helps to improve energy and maintain mental health,” he said.
• Like Christian, Gibran also tackles important tasks like strategic planning and problem solving in the morning.
• “A great part of our life is spent doing things related to work. By becoming more productive, we can do more in a much shorter time. This will enable us to allocate more to other parts of our life, maximise our potential as a human being, and contribute as much as possible,” he added.
• Founders, do you have productivity hacks to share? Let us know!

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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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