{"id":1089,"date":"2020-10-07T00:00:00","date_gmt":"2020-10-07T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-104-from-travel-to-e-commerce-the-switch-split-made-to-survive-amidst-covid-19\/"},"modified":"2021-07-23T07:41:09","modified_gmt":"2021-07-23T07:41:09","slug":"durians-daily-104-from-travel-to-e-commerce-the-switch-split-made-to-survive-amidst-covid-19","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=1089","title":{"rendered":"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026"},"content":{"rendered":"<figure><img decoding=\"async\" data-width=\"490\" data-height=\"528\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png\"><\/figure>\n<p><strong>The right move<\/strong><\/p>\n<ul>\n<li>Before Covid-19, 500-backed fintech company Split helped consumers book trips and pay for them through instalment plans. But things took a drastic turn\u200a\u2014\u200awith the travel industry going through turbulence as a result of the shuttering of borders worldwide.<\/li>\n<li>Dylan Tan and his team cracked their heads and made a change. Shifting from travel but offering the same payment flexibility, they tapped into e-commerce and retail outlets.<\/li>\n<li>So far, it has been the right move.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"696\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7daa902bdf.png\"><figcaption class=\"wp-caption-text\">The Split team \/ Credit:\u00a0Split<\/figcaption><\/figure>\n<ul>\n<li>\u201cHere we are six months later. We\u2019ve processed about 4 to 5 million of sales in that span of time,\u201d Dylan told <a href=\"https:\/\/www.bfm.my\/podcast\/enterprise\/open-for-business\/ent-ofb-cash-installments-without-the-card\" target=\"_blank\" rel=\"noopener\">BFM<\/a> in an interview yesterday.<\/li>\n<li>Admittedly, Dylan said the pivot was a risk as he didn\u2019t know if consumers would be willing to spend, considering the current state of the economy.<\/li>\n<li>\u201cThere was a lot of unpredictability in income\u2026 we didn\u2019t know if people were going to shift their money from travel to consumer goods. We had no idea if we wanted to do this. We just did it. Malaysians loved it and we started scaling from there,\u201d Dylan said.<\/li>\n<li>Split\u2019s current vendor list includes a wide variety of brands across Malaysia &amp; Singapore in the fashion, electronics, furniture, jewelry, personal care, fitness, gifts, and F&amp;B sectors.<\/li>\n<li>Without needing a credit card, consumers can make purchases with up to three interest-free repayments through their debit cards.<\/li>\n<li>Hear Dylan\u2019s full interview on BFM <a href=\"https:\/\/www.bfm.my\/podcast\/enterprise\/open-for-business\/ent-ofb-cash-installments-without-the-card\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<p><strong>Healthtech vs Covid-19<\/strong><\/p>\n<ul>\n<li>Gillian Tee, co-founder of 500-backed elderly care company Homage, recently sat down with <a href=\"https:\/\/www.straitstimes.com\/lifestyle\/stepping-up-to-fight-the-pandemic\" target=\"_blank\" rel=\"noopener\">The Straits Times<\/a> to talk about the role they\u2019ve been playing in combating the coronavirus pandemic.<\/li>\n<li>With an \u201carmy\u201d of 400 healthcare professionals deployed to man screening stations, carry out swab tests, and provide telemedicine consultations, the Homage team has been serving as much as they can.<\/li>\n<li>\u201cWe never expected to play such a role in the fight against Covid-19. They have gone into quarantine zones, nursing homes, hospitals and migrant worker communities and dormitories,\u201d Gillian said.<\/li>\n<li>Gillian and her team knew they couldn\u2019t sit around with a health crisis unfolding in front of their eyes.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1201\" data-height=\"702\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/12jj9PzGM75mY26o_kdQQyg.jpg\"><figcaption class=\"wp-caption-text\">Credit: The Peak\u00a0Magazine<\/figcaption><\/figure>\n<ul>\n<li>\u201cWe just felt this strong sense of urgency to act because we knew that with the number of healthcare professionals on our platform, we couldn\u2019t sit back and needed to be a part of the solution.\u201d<\/li>\n<li>Homage, which <a href=\"https:\/\/techcrunch.com\/2020\/01\/17\/caregiving-startup-homage-raises-10-million-series-b-to-enter-new-asian-markets\/\" target=\"_blank\" rel=\"noopener\">raised<\/a> a Series B round in January this year, has expanded to Malaysia with more than 3,000 curated care and medical professionals across both markets, servicing both consumers and healthcare organisations.<\/li>\n<li>In June, it <a href=\"https:\/\/dailymarkup.com\/\/durians-daily-44-singapore-based-startup-launches-telemedicine-service-for-the-elderly-a8d54b7668d3\" target=\"_blank\" rel=\"noopener\">launched<\/a> Homage Health, a service providing telehealth consultations and medicine delivery for those who may be at a greater risk of contracting Covid-19 during the pandemic.<\/li>\n<li>The battle is far from over, though. Gillian said the pandemic has only solidified her conviction in digital products that provide healthcare at scale.<\/li>\n<li>Read her interview with The Straits Times <a href=\"https:\/\/www.straitstimes.com\/lifestyle\/stepping-up-to-fight-the-pandemic\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<p><strong>Sustainable efforts<\/strong><\/p>\n<ul>\n<li>Indonesia\u2019s 500-backed aquatech company eFishery has been ranked in Cleantech Group\u2019s annual #APAC25 list.<\/li>\n<li>Cleantech Group is a global provider of research, consulting and events to catalyze opportunities in sustainable innovation. The list shines the spotlight on independent companies from the Asia Pacific region engaged in sustainable innovation that are viewed by the market as likely to have significant impact in a five-to-ten-year time frame.<\/li>\n<li>More than 11,000 companies were nominated from Cleantech Group\u2019s programmes and a panel of professionals.<\/li>\n<li>The recognition showcases eFishery\u2019s commitment to serve local fish and shrimp farmers with digital tools that amplify their businesses.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"688\" data-height=\"389\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7daaa07f1b.png\"><figcaption class=\"wp-caption-text\">Credit: Nestia<\/figcaption><\/figure>\n<ul>\n<li>\u201cThis Covid-19 pandemic has taught us that essential verticals such as agriculture are important, and we have to sustain that. We have to make sure that food production is done in a sustainable, fair, and efficient manner.\u201d said eFishery co-founder and CEO, Gibran Huzaifah.<\/li>\n<li>Over 8,000 farmers and 30,000 ponds across Indonesia are on eFishery\u2019s platform. The solutions provided by the Bandung-based company have helped farmers accelerate their annual income levels up to <a href=\"https:\/\/dailymarkup.com\/\/durians-daily-95-co-working-space-company-worq-secures-us-2-4-2dbc30c7271c\" target=\"_blank\" rel=\"noopener\">$100,000<\/a>, which in turn allows them to set up more ponds and help create more jobs in rural areas.<\/li>\n<li>Download the complete #APAC25 list <a href=\"https:\/\/i3connect.com\/apac25?utm_campaign=APAC25_19&amp;utm_medium=Social&amp;utm_source=APAC25\" target=\"_blank\" rel=\"noopener\">here<\/a>. Congrats on the recognition, team eFishery!<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7daaa500bb.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s 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.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) 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. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. 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 provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as 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. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The right move Before Covid-19, 500-backed fintech company Split helped consumers book trips and pay for them through instalment plans. But things took a drastic turn\u200a\u2014\u200awith the travel industry going through turbulence as a result of the shuttering of borders worldwide. Dylan Tan and his team cracked their heads and made a change. Shifting from [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[351,335,327],"class_list":["post-1089","post","type-post","status-publish","format-standard","hentry","category-daily","tag-efishery","tag-homage","tag-split"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026 - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=1089\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026 - Markup\" \/>\n<meta property=\"og:description\" content=\"The right move Before Covid-19, 500-backed fintech company Split helped consumers book trips and pay for them through instalment plans. But things took a drastic turn\u200a\u2014\u200awith the travel industry going through turbulence as a result of the shuttering of borders worldwide. Dylan Tan and his team cracked their heads and made a change. Shifting from [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dailymarkup.com\/?p=1089\" \/>\n<meta property=\"og:site_name\" content=\"Markup\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/facebook.com\/500southeastasia\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-07T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-23T07:41:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Felicia Chia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/dailymarkup.com\/#website\",\"url\":\"https:\/\/dailymarkup.com\/\",\"name\":\"Markup\",\"description\":\"Serving bite-sized news on 500 Southeast Asia&#039;s portfolio companies and insights to fuel your momentum in life and business.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/dailymarkup.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/dailymarkup.com\/?p=1089#primaryimage\",\"url\":\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png\",\"contentUrl\":\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png\",\"width\":490,\"height\":528},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dailymarkup.com\/?p=1089#webpage\",\"url\":\"https:\/\/dailymarkup.com\/?p=1089\",\"name\":\"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026 - Markup\",\"isPartOf\":{\"@id\":\"https:\/\/dailymarkup.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/dailymarkup.com\/?p=1089#primaryimage\"},\"datePublished\":\"2020-10-07T00:00:00+00:00\",\"dateModified\":\"2021-07-23T07:41:09+00:00\",\"author\":{\"@id\":\"https:\/\/dailymarkup.com\/#\/schema\/person\/9500d05faff850f12de850d9051b7b67\"},\"breadcrumb\":{\"@id\":\"https:\/\/dailymarkup.com\/?p=1089#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/dailymarkup.com\/?p=1089\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/dailymarkup.com\/?p=1089#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/dailymarkup.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/dailymarkup.com\/#\/schema\/person\/9500d05faff850f12de850d9051b7b67\",\"name\":\"Felicia Chia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/dailymarkup.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b574d076fbdac43064ec75a7d589d309319c819283cc558025e0ef88192ee849?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b574d076fbdac43064ec75a7d589d309319c819283cc558025e0ef88192ee849?s=96&d=mm&r=g\",\"caption\":\"Felicia Chia\"},\"url\":\"https:\/\/dailymarkup.com\/?author=7\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026 - Markup","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/dailymarkup.com\/?p=1089","og_locale":"en_US","og_type":"article","og_title":"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026 - Markup","og_description":"The right move Before Covid-19, 500-backed fintech company Split helped consumers book trips and pay for them through instalment plans. But things took a drastic turn\u200a\u2014\u200awith the travel industry going through turbulence as a result of the shuttering of borders worldwide. Dylan Tan and his team cracked their heads and made a change. Shifting from [&hellip;]","og_url":"https:\/\/dailymarkup.com\/?p=1089","og_site_name":"Markup","article_publisher":"http:\/\/facebook.com\/500southeastasia","article_published_time":"2020-10-07T00:00:00+00:00","article_modified_time":"2021-07-23T07:41:09+00:00","og_image":[{"url":"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Felicia Chia","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/dailymarkup.com\/#website","url":"https:\/\/dailymarkup.com\/","name":"Markup","description":"Serving bite-sized news on 500 Southeast Asia&#039;s portfolio companies and insights to fuel your momentum in life and business.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/dailymarkup.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dailymarkup.com\/?p=1089#primaryimage","url":"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png","contentUrl":"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1eta7ANi6ij6SHq2ovStMKA.png","width":490,"height":528},{"@type":"WebPage","@id":"https:\/\/dailymarkup.com\/?p=1089#webpage","url":"https:\/\/dailymarkup.com\/?p=1089","name":"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026 - Markup","isPartOf":{"@id":"https:\/\/dailymarkup.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/dailymarkup.com\/?p=1089#primaryimage"},"datePublished":"2020-10-07T00:00:00+00:00","dateModified":"2021-07-23T07:41:09+00:00","author":{"@id":"https:\/\/dailymarkup.com\/#\/schema\/person\/9500d05faff850f12de850d9051b7b67"},"breadcrumb":{"@id":"https:\/\/dailymarkup.com\/?p=1089#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/dailymarkup.com\/?p=1089"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/dailymarkup.com\/?p=1089#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/dailymarkup.com\/"},{"@type":"ListItem","position":2,"name":"Daily Markup #104: From travel to e-commerce, the switch Split made to survive amidst Covid-19\u2026"}]},{"@type":"Person","@id":"https:\/\/dailymarkup.com\/#\/schema\/person\/9500d05faff850f12de850d9051b7b67","name":"Felicia Chia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dailymarkup.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b574d076fbdac43064ec75a7d589d309319c819283cc558025e0ef88192ee849?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b574d076fbdac43064ec75a7d589d309319c819283cc558025e0ef88192ee849?s=96&d=mm&r=g","caption":"Felicia Chia"},"url":"https:\/\/dailymarkup.com\/?author=7"}]}},"_links":{"self":[{"href":"https:\/\/dailymarkup.com\/index.php?rest_route=\/wp\/v2\/posts\/1089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailymarkup.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailymarkup.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailymarkup.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/dailymarkup.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1089"}],"version-history":[{"count":1,"href":"https:\/\/dailymarkup.com\/index.php?rest_route=\/wp\/v2\/posts\/1089\/revisions"}],"predecessor-version":[{"id":1670,"href":"https:\/\/dailymarkup.com\/index.php?rest_route=\/wp\/v2\/posts\/1089\/revisions\/1670"}],"wp:attachment":[{"href":"https:\/\/dailymarkup.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailymarkup.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailymarkup.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}