Welcome to Tech in Asia’s daily newsletter, your essential dose of Asia’s tech and startup buzz. Not yet a subscriber? Register here. Got a story tip? Send it to editors@techinasia.com.
In focus
- Profits on the menu for Kopi Kenangan in Malaysia
- Endowus supercharges its operations with US$70 million raise
- Sharper decline for SEA funding in 2025
Hello reader,
In Indonesia, there are some local coffee chains that can rival international players like Starbucks, especially as the latter faces boycotts due to alleged pro-Israel stances.
Case in point: Kopi Kenangan can be found almost everywhere across the country. While some players have come and gone, the coffee chain continues to show strong momentum amid its global expansion ambitions.
This year, the company entered India and Australia, while it’s targeting Taiwan and a country in the Middle East next year.
These expansion efforts are starting to bear fruit: Kopi Kenangan says that it has turned EBITDA positive in Malaysia, its first overseas market.
In today’s first Top Story, I spoke with Kopi Kenangan co-founder and CEO Edward Tirtanata on the sidelines of this year’s TIA Conference in Jakarta. He shared some of the company’s numbers and milestones for 2025, including a 40% year-on-year revenue growth in Q3.
Meanwhile, in the second Top Story, my colleague Miguel Cordon reported on the US$70 million fundraise of Singapore-based digital investment management firm Endowus. In 2024, the company posted a 61% increase in revenue compared to the previous year.
Gregory Van, its CEO and co-founder, shared the company’s plans for the fresh capital, including funding its new B2B solutions.
As funding drops in Southeast Asia, players like Kopi Kenangan and Endowus are bucking the trend. Maybe this is what a more mature ecosystem looks like: fewer dollars, smarter growth.
Jofie Yordan, journalist
Top Stories
1️⃣ Kopi Kenangan turns EBITDA positive in Malaysia, eyes new markets
Kopi Kenangan outlet at Padang Merdeka BEZ Gading Serpong in Indonesia / Photo credit: Kopi Kenangan
A data story you shouldn’t miss
Trending news
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
