IN FOCUS
In today’s newsletter, we look at:
- Sea Group’s Q2 2024 results show strong growth at SeaMoney
- Nium is betting big on Brazil
Welcome to The Top Up! Delivered every fortnight via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in fintech. Get it in your email inbox by registering here.
Hi there,
A couple of years ago, I wrote a story lamenting the lack of gender diversity on the boards of Southeast Asia’s tech companies.
Notably, Sea Group was one of the companies with an all-male board at the time.
That is, happily, no longer the case. Yesterday, as part of its earnings results for the second quarter of 2024, the company announced that Jessica Tan, former co-CEO of Chinese insurer Ping An, will become a board member.
Tan’s appointment is a signal of the importance Sea Group is placing on SeaMoney, its fintech unit. After all, she has had years of experience in financial services.
SeaMoney has been on a roll. Revenue for Q2 2024 is 21% higher year on year, while adjusted EBITDA is up 20% from Q2 2023.
Check out these results, and more, in our featured story this week, which sets out Sea Group’s earnings in seven charts.
Meanwhile, in this week’s Hot Take, I look more closely at payments company Nium’s foray into Latin America and, specifically, Brazil.
— Simon
THE BIG STORY
Sea Group’s financial health in 7 charts
Image credit: Timmy Loen
THE HOT TAKE
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
