The fall of an ecommerce startup and other top stories this week

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Here’s a recap of the hottest news this week!

Top stories

Photo credit: Leflair

1️⃣ Lessons from the fall of luxury e-tailer Leflair (🔒)
The startup’s CEO says he’s taking full responsibility after being summoned by the Vietnam police and shares what he has learned so far.

2️⃣ Payfazz closes $53m in series B round
Every month, about 10 million Indonesians make transactions via its agent network of over 250,000, the startup claims.

3️⃣ As remote work rises, HR tech firms spot an opening (🔒)
Effective communication and tracking productivity are among employers’ top concerns.

4️⃣ Zilingo cuts 12% of jobs – here’s what happened behind the scenes (🔒)
Speaking to multiple current and ex-employees, Tech in Asia goes into detail about the company’s struggles as it grapples with Covid-19.

5️⃣ Indonesia’s Social Bella bags $58m in series E money
The funding came from existing investors Temasek, Pavilion Capital, and Jungle Ventures.

6️⃣ As Oyo Indonesia furloughed 400 staff, some workers and hotels pushed back (🔒)
Oyo has also changed its revenue model with hotel partners and implemented new hygiene measures to boost demand.

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Events happening

• Tech in Asia Virtual Pitch Night on Wednesday, July 22.
• Rewriting the Rules of User Engagement with Shopee and Garena on Wednesday, July 29.