{"id":2521,"date":"2021-08-23T04:28:22","date_gmt":"2021-08-23T04:28:22","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=2521"},"modified":"2021-08-23T04:28:24","modified_gmt":"2021-08-23T04:28:24","slug":"daily-markup-319-finaccel-on-being-the-first-southeast-asian-fintech-startup-to-list-in-the-us-ayannah-partners-mobile-wallet-to-launch-new-remittance-service-for-cash-users-bibit-fights-fraudster","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=2521","title":{"rendered":"Daily Markup #319: FinAccel on being the first Southeast Asian fintech startup to list in the US; Ayannah partners mobile wallet to launch new remittance service for cash users; Bibit fights fraudsters to protect its 1 million users"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/Jl4mIGH59wma9f-T2js4X7Ot7v2NaquzvOGLT1boNulKxckysz80Wl0rBxYMwgen8sblcv65IN7uTKBhFyNAzGwvybzpPOM6F9swzjbtRE9jSSBpvX9x2fmzXg4g8wchmkxOxNpO\" alt=\"\" \/><figcaption>Credit: DealStreetAsia<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>On the unicorn track<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Akshay Garg, CEO and co-founder of 500-backed <a href=\"https:\/\/finaccel.co\/\">FinAccel<\/a>, appeared on <a href=\"https:\/\/www.youtube.com\/watch?v=0iDDMKFTPtU&amp;t=1s\">CNBC Indonesia<\/a>. He spoke about the trend of tech startups going public and nationally and the outlook of the \u2019buy now, pay later\u2019 industry.<\/li><li>According to the media outlet, FinAccel is the first Indonesian tech startup and first Southeast Asian fintech startup to list in the United States. Having achieved this in less than 6 years, it is also the fastest startup to go from seed stage to public listing.<\/li><li>Why is a milestone like this is rare for Southeast Asian startups? Akshay shared that economically, the region is still in the early stages of growth. He added that fragmentation and diversity in the region make penetration more difficult for a business to operate compared to places like China or India.<\/li><li>He also revealed that the startup aims to raise more than US$400 million from the listing exercise.<\/li><li>Watch the full interview on CNBC <a href=\"https:\/\/www.youtube.com\/watch?v=0iDDMKFTPtU&amp;t=1s\">here<\/a>.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/y9WuNqOuSW_ttXG6NwzNjQEDXsP3kqGO8W-o81xML8jDg1PuFoeBnPpytYJ5OBAFB7H7KUBLMYsYVZn6ojkrkMyOmpSXl1U9MWzwcsDvrdtKwNi-5I_xl92MSKia7zaV8LXuwzhP\" alt=\"\" \/><figcaption>Credit: <a href=\"https:\/\/unsplash.com\/@amoltyagi2?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Amol Tyagi<\/a> on<a href=\"https:\/\/unsplash.com\/s\/photos\/phone-money?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\"> Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Managing cash safely<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>500-backed fintech startup <a href=\"https:\/\/www.ayannah.com\/\">Ayannah<\/a> has partnered with e-wallet GCash to <a href=\"https:\/\/www.crowdfundinsider.com\/2021\/08\/178871-mobile-wallet-provider-gcash-partners-philippines-based-fintech-ayannah-to-provide-accessible-financial-services\/\">launch a new money remittance service<\/a> called <a href=\"https:\/\/www.gcash.com\/services\/padala\/\">GCash Padala<\/a>. It will enable over 40 million GCash users to send money to millions of unbanked Filipinos.<\/li><li>With this new service, users can send money from their mobile phones even to recipients who do not have an e-wallet or mobile bank account. Recipients can then claim their cash at over 2,000 participating centers across the country.<\/li><li>Ayannah plans to add thousands more in the coming weeks. The startup hopes to reduce the need for traveling as the country continues to enforce lockdown measures.<\/li><li>Read the full story <a href=\"https:\/\/www.crowdfundinsider.com\/2021\/08\/178871-mobile-wallet-provider-gcash-partners-philippines-based-fintech-ayannah-to-provide-accessible-financial-services\/\">here<\/a>.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/cafSuurd6lJSVYxQdR4OZqiMq27FuP0_2jjdYP3QXtdTMc3SgVOnW7IHBFjmqE6l3lemERZB22FlteDwhR33K1AcPqbw25KKGcF-aCcaln6s56IvjRIJM1Pj0zEIS0A7W11OH_V7\" alt=\"\" \/><figcaption>Credit: KrAsia<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fighting fraud<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>With the rise of interest in roboadvisor investing, financial frauds and scams also abound. 500-backed digital investment platform <a href=\"https:\/\/bibit.id\/\">Bibit<\/a> has been <a href=\"https:\/\/kr-asia.com\/indonesias-millennials-drive-interest-in-investment-apps-but-financial-literacy-lags-behind?\">actively educating its users to be vigilant online<\/a>.<\/li><li>\u201cWe found more than 20 Telegram and Facebook groups using Bibit\u2019s name. The groups\u2019 creators persuade members to deposit their money into the admins\u2019 accounts to invest on the Bibit platform. They also promise fixed and large profits,\u201d said Bibit\u2019s head of PR and communications, William.<\/li><li>Combined, these groups have tens of thousands of members. The startup is currently coordinating with Indonesia\u2019s financial authority to remove those groups. Bibit also often reminds users to be more careful and not follow accounts other than the company\u2019s official pages.\u00a0<\/li><li>According to William, there are about 1 million monthly active users on Bibit, with more than US$349.2 million worth of assets under management. Nearly 90% of Bibit\u2019s users are below 35 years old.<\/li><li>Read the full story on KrAsia <a href=\"https:\/\/kr-asia.com\/indonesias-millennials-drive-interest-in-investment-apps-but-financial-literacy-lags-behind?\">here<\/a>.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>On the unicorn track Akshay Garg, CEO and co-founder of 500-backed FinAccel, appeared on CNBC Indonesia. He spoke about the trend of tech startups going public and nationally and the outlook of the \u2019buy now, pay later\u2019 industry. According to the media outlet, FinAccel is the first Indonesian tech startup and first Southeast Asian fintech [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2522,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[369,364,329],"class_list":["post-2521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-ayannah","tag-finaccel","tag-stockbit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #319: FinAccel on being the first Southeast Asian fintech startup to list in the US; Ayannah partners mobile wallet to launch new remittance service for cash users; Bibit fights fraudsters to protect its 1 million users - 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=2521\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #319: FinAccel on being the first Southeast Asian fintech startup to list in the US; Ayannah partners mobile wallet to launch new remittance service for cash users; Bibit fights fraudsters to protect its 1 million users - Markup\" \/>\n<meta property=\"og:description\" content=\"On the unicorn track Akshay Garg, CEO and co-founder of 500-backed FinAccel, appeared on CNBC Indonesia. 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