SEA’s rising Islamic tech startups and Shenzhen’s bet on livestreaming

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After a dip in 2021, funding into Islamic tech startups is back on the rise. In 2022, such firms across Southeast Asia raised US$452 million, my colleague Jofie writes in this week’s Big Story, which maps out some of the region’s most notable players.

Such firms are serving a combined population of more than 250 million people – in Indonesia and Malaysia alone.

A notable ecommerce player in the space is Believe, a direct-to-consumer firm selling fashion products to Muslim communities in Asia and the Middle East.

But many mainstream platforms like Tokopedia, Shopee, and Lazada are also dipping their toes in the space by offering halal food and fashion products on dedicated web pages.

On the ease of online shopping, our second big story this week looks into Primer. Founded by two former PayPal executives, the firm is helping online businesses to automate their payments and commerce workflows.

With a wide range of digital payments and e-wallets available in Asia Pacific, Primer makes it easier for any merchant to add various payment methods through a single platform. This helps startups speed up expansion plans, especially in a diverse market like Southeast Asia.

Finally, our Hot Take this week looks at the multibillion-dollar livestreaming industry, which has permeated almost any social media platform you use, whether that’s Facebook, Instagram, TikTok, or YouTube.

One city in China has laid out dedicated plans to boost its livestreaming capabilities and attract related talent. For the full details, scroll along.

— Melissa

THE BIG STORIES

1️⃣ Mapping the key Islamic tech startups in Southeast Asia

Image credit: Timmy Loen

With a total Muslim population of more than 250 million, Indonesia and Malaysia are promising markets for Islam-related businesses.

THE HOT TAKE

NEWS YOU SHOULD KNOW

FYI