China is shaping Southeast Asia’s fintech future

Dear readers,

Continuing the theme of how Southeast Asia is becoming like China, we recently published a story about Chinese insurance giant Ping An’s hiring spree in the region as it woos banks and financial institutions more aggressively.

Photo credit: 123RF

For better or worse, we think China’s influence will be especially pronounced in fintech, with many Chinese-backed startups like Silot (which just raised a series A round), Akulaku, and RupiahPlus serving the region. In the realm of peer-to-peer lending, the situation in Indonesia, which is characterized by the sheer amount of lending companies and sometimes predatory practices, looks to be a repeat of what happened in China.

But Southeast Asia faces unique issues. OneConnect, a subsidiary of Ping An in Singapore, has experienced the dilemma of deciding exactly which products to bring over to and localize in the region.

Outside of fintech, ecommerce logistics is another area that will require localized solutions. Janio is doing just that by turning the region’s fragmented market into an opportunity by becoming the go-to platform for all logistics solutions.

There are a lot more stories like these we want to uncover, and we’re constantly in the race to keep up. We need your support to afford more resources and journalists. By subscribing to us, you can ensure that Southeast Asia’s tech industry will continue to get the best possible coverage.

Check out the rest of the subscriber exclusives in the past week:

• Why online milk delivery is taking off in India and not elsewhere
• Meet Genesia Ventures’ new general partner who made an early bet on Tokopedia
• These are the most active investors in Indonesia’s startups
• From luxury fashion to premium dog food: Founders of Alibaba-backed Mei.com dive into pet care
• Rising SE Asian startups this week: Video creation-on-demand, luxury ecommerce, and more
• Grab doubles Indonesia revenue, claims it’s part of the ‘largest payments ecosystem’
• Bukalapak is Indonesia’s newest unicorn. Here’s what’s next for them
• How this travel-booking platform survived for 14 years and outlasted its competitors
• These are the most active investors in Singapore’s startups

Happy reading!

Cheers,
Terence
Chief editor