Check out our latest report on Southeast Asia Tech top #BusinessModels in built using #Tracxn's #proprietary #taxonomy rebrand.ly/qfmeion Subscribe for free to receive the latest reports of your geo of interest delivered to your mailbox

1. TRACXN TOP BUSINESS MODELS REPORT
April 22, 2022
SOUTHEAST ASIA TECH

2. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
Southeast Asia Tech Funding Overview 3
Top Funded Business Models 4
One Pagers 9
Appendix 59
2

3. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Funding in last 1 year
3
Logistics Tech $4.2B
Payments $3.4B
Alternative Lending $1.7B
Auto E-Commerce & Content $1.0B
B2B E-Commerce $1.0B
Road Transport Tech $934M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
East Ventures
Global Founders Capital
47
20
20
Early
Stage
East Ventures
ACVentures
Insignia Ventures Partners
21
16
14
Late
Stage
EDBI
Sequoia Capital
Tiger Global Management
8
7
6
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
J&T Express
(2015, )
$2.5B - Series C
Coda Payments
(2011, )
$690M - Series C
EMERITUS
(2010, )
$650M - Series E
Ninja Van
(2014, )
$578M - Series E
Atome
(2016, )
$500M - Series D
Grab
(2012, )
$375M - Series H
CARRO
(2015, )
$360M - Series C
Mynt
(2015, )
$300M - Series D
Gojek
(2010, )
$300M - Series H
Carsome
(2015, )
$300M - Series E
Tiki
(2010, )
$258M - Series E
Acronis
(2003, )
$250M - Series E
Singapore (51%)
Jakarta (28%)
Ho Chi Minh City (4%)
Hanoi (3%)
Petaling Jaya (2%)
Others (12%)

4. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲16 Online Business Payments $1.1B 7 Coda Payments | $690M | Series C Link
2▲5 Digital Wallets $998M 7 Grab | $375M | Series H Link
3-- Online Professional Learning Courses $650M 2 EMERITUS | $650M | Series E Link
4-- Retail Stores Shopper Financing Platforms $540M 2 Atome | $500M | Series D Link
5▲32 C2B Used Cars Marketplaces $512M 4 Carsome | $300M | Series E Link
6▲78 P2P Used Cars Marketplaces $483M 4 CARRO | $360M | Series C Link
7▲16 Business Payments Solutions $400M 3 VNPAY | $250M | Series B Link
8-- Online B2B Horizontal Retailers $382M 5 Moglix | $250M | Series F Link
9▲28 Internet First P2P Business Loans $334M 6 Modalku | $144M | Series C Link
10-- PC and Console Casual NFT Game Developers $312M 4 Sky Mavis | $152M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▼1 Two Wheeler Ride Hailing $300M 1 Gojek | $300M | Series H Link
12-- Internet First Point of Sale Financing Marketplaces $252M 3 FinAccel | $125M | Series C Link
13-- Omnichannel Banking Solutions $250M 1 VNLIFE | $250M | Series B Link
14▲12 B2B Grocery Marketplace $233M 6 Ula | $87.0M | Series B Link
15▼3 B2B Horizontal Marketplaces $213M 7 GudangAda | $100M | Series B Link
16▲136 Remittance Softwares for Enterprises $205M 3 NIUM | $200M | Series D Link
17-- Life Sciences Research Instruments $200M 1 Esco Lifescie.. | $200M | Series A Link
18▼20 Residential Real Estate Listings $172M 3 PropertyGuru | $147M | Series D Link
19▲42 Online K-12 Chinese Tutoring $162M 3 LingoAce | $105M | Series C Link
20-- Strategy NFT Games $160M 5 Axie | $150M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲16 Plant Based Meat Substitutes $150M 5 Next Gen Foods | $100M | Series A Link
22▲3 Rewards and Cashback Apps $150M 1 ShopBack | $150M | Series B Link
23▲94 Corporate Travel & Expense Cards $148M 3 Spenmo | $85.3M | Series B Link
24▲14 Retail Banking $148M 2 TONIK | $131M | Series B Link
25▲32 CPG Brands E-Commerce Software Suite $128M 7 SIRCLO | $45.0M | Series B Link
26▲72 Pan-Cancer Drugs $125M 1 Hummingbird B.. | $125M | Series C Link
27-- B2B Grocery Marketplaces $123M 3 Growsari | $77.5M | Series C Link
28▲138 Cryptocurrency Banking $120M 2 Sygnum | $120M | Series B Link
29▲18 Cryptocurrency Exchanges $119M 10 PDAX | $50.0M | Series B Link
30▲91 Crypto Financial Services $114M 6 Matrixport | $100M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▼20 Online P2P Second Hand Goods Listings $110M 2 Carousell | $100M | Series E Link
32▼22 Web Based Platform for Doctor Consultation $104M 3 Doctor Anywhere | $104M | Series C Link
33▲5 White Label Wallet Solutions $102M 2 MatchMove | $100M | Series D Link
34-- B2B Farm Produce Marketplaces $102M 5 TaniHub | $65.5M | Series B Link
35-- Internet First NFC Prepaid Cards $100M 1 BigPay | $100M | Series A Link
36▲63 Cryptocurrency Custodian Services $98.0M 3 Hex Trust | $88.0M | Series B Link
37▼35 Bioplastics $95.1M 1 RWDC Industr.. | $95.1M | Series B Link
38▲183 Cryptocurrency Trading Platforms $95.0M 4 AscendEX | $50.0M | Series B Link
39▼12 Free Float Electric Kick Scooter Rentals $93.0M 1 Beam | $93.0M | Series B Link
40▼10 Mutual Fund Investment Platforms $90.0M 4 Pluang | $55.0M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Internet First Personal Loans Marketplace $90.0M 2 JULO | $60.0M | Series B Link
42-- CPG Brands Storefronts $80.0M 2 LummoSHOP | $80.0M | Series C Link
43-- Payroll Management $77.2M 3 Multiplier | $60.0M | Series B Link
44-- Fitness & Nutrition Training & Planning Apps $75.0M 1 Healthify | $75.0M | Series C Link
45▲1 OTT Live Streaming Distribution Solutions $73.7M 2 Kumu | $73.7M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Coda Payments (2011)
$690M - Series C - Apr 2022
Voyager Innovations (2013)
$210M - Series F - Apr 2022
$167M - Series E - Jun 2021
OY! (2017)
$30.0M - Series A - Sep 2021
$45.0M - Series A - Jul 2021
Durianpay (2020)
$2.0M - Seed - Aug 2021
Dragonpay (2010)
Undisclosed - Series B - Jul 2021
Online Business Payments - Southeast
Asia
01
9
Back to index
Payments (Grab)
(# Cos: 1048 | $20.3B)
Business Payments (Xendit)
(# Cos: 497 | $2.8B)
Online Payments (Coda Payments)
(# Cos: 196 | $1.7B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$1.1B (▲940%)
7(▲40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.7B
29
-
196
6
Coda Payments
(2011, $715M)
InstaReM
(2014, $59.5M)
Voyager Innovations
(2013, $712M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Grab (2012)
$375M - Series H - Jul 2021
Mynt (2015)
$300M - Series D - Nov 2021
Gojek (2010)
$300M - Series H - May 2021
MoMo (2007)
$200M - Series E - Dec 2021
Ascend Money (2013)
$150M - Series C - Sep 2021
Flip (2016)
$48.0M - Series B - Dec 2021
TNG Digital (2017)
Undisclosed - Seed - Jul 2021
Digital Wallets - Southeast Asia
02
10
Back to index
Payments (Xendit)
(# Cos: 1048 | $20.3B)
Consumer Payments (Gojek)
(# Cos: 470 | $17.3B)
Wallets (Grab)
(# Cos: 189 | $16.8B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$998M (▲74.6%)
7(▼58.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$16.8B
32
-
189
11
Grab
(2012, $10.4B)
Gojek
(2010, $4.9B)
LinkAja
(2019, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online Professional Learning Courses -
Southeast Asia
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$650M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$691M
10
-
139
1
Continued Learning (Cakap)
(# Cos: 705 | $730M)
Professional (Binar Academy)
(# Cos: 327 | $712M)
Online Learning (Hacktiv8)
(# Cos: 322 | $701M)
Multi Disciplinary (Kyna.vn)
(# Cos: 154 | $692M)
Online Courses (EMERITUS)
(# Cos: 139 | $691M)
EMERITUS
(2010, $690M)
Kyna.vn Mindtera
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
EMERITUS (2010)
$650M - Series E - Aug 2021
Mindtera (2021)
Undisclosed - Seed - Aug 2021

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Atome (2016)
$500M - Series D - Oct 2021
Pace (2020)
$40.0M - Series A - Nov 2021
Retail Stores Shopper Financing
Platforms - Southeast Asia
04
12
Back to index
In Store Retail Tech (Moka)
(# Cos: 380 | $2.1B)
Purchase Financing (Pace)
(# Cos: 2 | $540M)
Shopper (Atome)
(# Cos: 2 | $540M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$540M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$540M
2
-
2
1
Atome
(2016, $500M)
Pace
(2020, $40.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
C2B Used Cars Marketplaces - Southeast
Asia
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$512M (▲1607%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$661M
7
-
17
3
Auto E-Commerce & Content (Roojai)
(# Cos: 440 | $1.4B)
Second Hand Vehicles (Carmudi Indonesia)
(# Cos: 159 | $1.3B)
Cars (CARRO)
(# Cos: 129 | $1.3B)
C2B Marketplace (Carsome)
(# Cos: 17 | $661M)
Carsome
(2015, $586M)
Moladin
(2016, $43.2M)
myTukar
(2017, $30.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carsome (2015)
Undisclosed - Series E - Mar 2022
$300M - Series E - Jan 2022
$170M - Series D - Sep 2021
Moladin (2016)
$42.0M - Series A - Jan 2022

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Used Cars Marketplaces - Southeast
Asia
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$483M (▲4287%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$602M
3
-
9
1
Auto E-Commerce & Content (Roojai)
(# Cos: 440 | $1.4B)
Second Hand Vehicles (Carmudi Indonesia)
(# Cos: 159 | $1.3B)
Cars (Carsome)
(# Cos: 129 | $1.3B)
P2P Marketplace (CARRO)
(# Cos: 9 | $602M)
CARRO
(2015, $602M)
Otobro Caramo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CARRO (2015)
$7.0M - Series C - Jan 2022
$15.6M - Series C - Dec 2021
$100M - Series C - Nov 2021
$360M - Series C - Jun 2021

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
VNPAY (2007)
$250M - Series B - Aug 2021
Xendit (2014)
$150M - Series C - Sep 2021
Doku (2007)
$32.0M - PE - Aug 2021
Business Payments Solutions - Southeast
Asia
07
15
Back to index
Payments (Grab)
(# Cos: 1048 | $20.3B)
Business Payments (Moka)
(# Cos: 497 | $2.8B)
Diversified (Xendit)
(# Cos: 80 | $948M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$400M (▲466%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$948M
14
2
80
6
Xendit
(2014, $238M)
2C2P
(2003, $85.0M)
MC Payment
(2005, $8.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Moglix (2015)
$250M - Series F - Jan 2022
$120M - Series E - May 2021
Dagangan (2008)
$11.5M - Series A - Sep 2021
Undisclosed - Seed - Jun 2021
EI Industrial (2018)
$670K - Seed - Oct 2021
Online B2B Horizontal Retailers -
Southeast Asia
08
16
Back to index
B2B E-Commerce (ShopUp)
(# Cos: 356 | $1.8B)
Horizontal (Ula)
(# Cos: 83 | $943M)
E-Distributor (Moglix)
(# Cos: 24 | $505M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$382M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$505M
6
1
24
3
Moglix
(2015, $471M)
Dagangan
(2008, $11.5M)
Bhinneka
(1993, $22.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First P2P Business Loans -
Southeast Asia
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$334M (▲1275%)
6(▼14.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$488M
15
-
27
8
Alternative Lending (Akulaku)
(# Cos: 733 | $3.1B)
Online Lenders (Kredivo)
(# Cos: 559 | $2.7B)
Business Loans (Amartha)
(# Cos: 141 | $712M)
Diversified (Funding Societies)
(# Cos: 40 | $492M)
Marketplace (Modalku)
(# Cos: 33 | $492M)
P2P (Investree)
(# Cos: 27 | $488M)
Investree
(2015, $23.5M)
Modalku
(2016, $145M)
Funding Societies
(2015, $217M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Modalku (2016)
$144M - Series C - Feb 2022
Funding Societies (2015)
$144M - Series C - Feb 2022
Undisclosed - Series C - Oct 2021
Validus (2015)
$37.5M - Series B - May 2021
Crowdo (2012)
$5.9M - Series A - Jan 2022
Komunal (2018)
$2.1M - Series A - Sep 2021

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
PC and Console Casual NFT Game
Developers - Southeast Asia
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$312M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$313M
3
-
4
1
PC & Console Gaming (Axie)
(# Cos: 235 | $670M)
Game Developers (VNG)
(# Cos: 115 | $367M)
PC & Console Games (IGG)
(# Cos: 83 | $362M)
Casual Games (YOMI Studio)
(# Cos: 54 | $313M)
NFTs (Sky Mavis)
(# Cos: 4 | $313M)
Sky Mavis
(2019, $311M)
YOMI Studio
(2015, $2.0M)
Chumbi Valley
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sky Mavis (2019)
$150M - Series B - Apr 2022
$152M - Series B - Oct 2021
$7.5M - Series A - May 2021
YOMI Studio (2015)
$2.0M - Seed - Apr 2022

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Gojek (2010)
$300M - Series H - May 2021
Two Wheeler Ride Hailing - Southeast
Asia
11
19
Back to index
Road Transport Tech (Beam)
(# Cos: 795 | $15.7B)
Ride Hailing (Grab)
(# Cos: 261 | $15.4B)
Motorized Two-Wheelers (Gojek)
(# Cos: 46 | $4.9B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$300M (▲98.7%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.9B
5
-
46
1
Gojek
(2010, $4.9B)
Angkas Teknojek
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing
Marketplaces - Southeast Asia
12
20
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$252M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$507M
6
-
12
2
Alternative Lending (Amartha)
(# Cos: 733 | $3.1B)
Online Lenders (Investree)
(# Cos: 559 | $2.7B)
Consumer Loans (FinAccel)
(# Cos: 309 | $1.4B)
Point of Sale Financing (Kredivo)
(# Cos: 37 | $1.2B)
Marketplace (Akulaku)
(# Cos: 12 | $507M)
Akulaku
(2014, $345M)
FinAccel
(2015, $160M)
Fundiin
(2018, $1.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FinAccel (2015)
$125M - Series C - Sep 2021
Akulaku (2014)
$125M - Series E - Jun 2021
Fundiin (2018)
$1.8M - Seed - Sep 2021

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
VNLIFE (2007)
$250M - Series B - Jul 2021
Omnichannel Banking Solutions -
Southeast Asia
13
21
Back to index
Banking Tech (TONIK)
(# Cos: 290 | $1.4B)
Banking Channels (Active.Ai)
(# Cos: 25 | $575M)
Omnichannel (VNLIFE)
(# Cos: 12 | $551M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$551M
5
-
12
1
VNLIFE
(2007, $550M)
Bank Genie Wee Digital
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Grocery Marketplace - Southeast
Asia
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$233M (▲594%)
6(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$273M
5
-
9
3
Online Grocery (HappyFresh)
(# Cos: 685 | $1.2B)
B2B Ecommerce (TreeDots)
(# Cos: 55 | $435M)
Multi-Category (Growsari)
(# Cos: 15 | $273M)
Marketplace (Ula)
(# Cos: 9 | $273M)
Ula
(2019, $141M)
Growsari
(2016, $123M)
Zeemart
(2016, $6.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ula (2019)
$23.1M - Series B - Nov 2021
$87.0M - Series B - Oct 2021
Growsari (2016)
$77.5M - Series C - Mar 2022
$45.0M - Series C - Jan 2022
Undisclosed - Series B - Jun 2021
FreshKet (2016)
Undisclosed - Series A - Mar 2022

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
GudangAda (2019)
$100M - Series B - Jul 2021
Ula (2019)
$23.1M - Series B - Nov 2021
$87.0M - Series B - Oct 2021
Dropee (2016)
$3.0M - Series A - Jan 2022
Burket (2018)
Undisclosed - Seed - Jun 2021
Ralali (2015)
Undisclosed - Series D - Mar 2022
Eezee (2016)
Undisclosed - Seed - May 2021
B2B Horizontal Marketplaces -
Southeast Asia
15
23
Back to index
B2B E-Commerce (ShopUp)
(# Cos: 356 | $1.8B)
Horizontal (Moglix)
(# Cos: 83 | $943M)
Marketplace (Ula)
(# Cos: 40 | $436M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$213M (▲158%)
7(▲40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$436M
16
-
40
4
Ula
(2019, $141M)
Ralali
(2015, $22.5M)
GudangAda
(2019, $135M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
NIUM (2002)
$3.0M - Series D - Feb 2022
$200M - Series D - Jul 2021
Wallet Engine (2014)
$2.4M - Seed - Dec 2021
Remittance Softwares for Enterprises -
Southeast Asia
16
24
Back to index
Digital Remittance (InstaReM)
(# Cos: 160 | $1.1B)
Enablers (Thunes)
(# Cos: 17 | $433M)
Software for Enterprises (NIUM)
(# Cos: 11 | $303M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$205M (▲9679%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$303M
5
-
11
1
NIUM
(2002, $300M)
Qwikwire
(2013, $460K)
Wallet Engine
(2014, $2.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Esco Lifesciences (1978)
$200M - Series A - May 2021
Life Sciences Research Instruments -
Southeast Asia
17
25
Back to index
Life Sciences Platforms and Tools (Cordlife)
(# Cos: 138 | $557M)
Instruments (Curiox)
(# Cos: 19 | $230M)
Diversified (Esco Lifesciences)
(# Cos: 5 | $200M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$200M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$200M
1
-
5
1
Esco Lifesciences
(1978, $200M)
Biomedia Watech
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Residential Real Estate Listings -
Southeast Asia
18
26
Back to index
Residential Real Estate Tech (99 Group)
(# Cos: 411 | $1.5B)
Listings (PropertyGuru)
(# Cos: 292 | $1.3B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$172M (▼63%)
3(▼57.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
20
$1.3B
45
2
292
5
PropertyGuru
(2007, $642M)
99 Group
(2014, $25.5M)
PropertyGuru
(2007, $543M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PropertyGuru (2007)
$147M - Series D - Aug 2021
Pinhome (2019)
$25.5M - Series A - Jul 2021
PropertyScout (2019)
Undisclosed - Seed - Jan 2022

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online K-12 Chinese Tutoring -
Southeast Asia
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$162M (▲1143%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$182M
2
-
6
1
K-12 EdTech (Quipper)
(# Cos: 878 | $704M)
B2C Learning Solutions (Ruangguru)
(# Cos: 395 | $538M)
Language Learning (Cakap)
(# Cos: 62 | $198M)
Chinese (T-Lab)
(# Cos: 9 | $182M)
Online Tutoring (LingoAce)
(# Cos: 6 | $182M)
LingoAce
(2013, $180M)
T-Lab
(2020, $1.6M)
KIRIN Mandarin
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
LingoAce (2013)
$105M - Series C - Dec 2021
$55.0M - Series B - Oct 2021
T-Lab (2020)
$1.6M - Seed - Sep 2021

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Strategy NFT Games - Southeast Asia
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$160M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$166M
13
-
20
0
PC & Console Gaming (IGG)
(# Cos: 235 | $670M)
Blockchain Games (Heroverse)
(# Cos: 48 | $182M)
NFTs (Planet Sandbox)
(# Cos: 48 | $182M)
Strategy Games (Axie)
(# Cos: 20 | $166M)
Axie
(2018, $159M)
Heroverse
(2021, $1.7M)
Starbots
(2021, $2.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Axie (2018)
$150M - Series B - Oct 2021
$7.5M - Series A - May 2021
Chain Crisis (2021)
$2.5M - Seed - Feb 2022
Starbots (2021)
$2.4M - Seed - Nov 2021
Heroverse (2021)
$1.7M - Seed - Sep 2021

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Plant Based Meat Substitutes -
Southeast Asia
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$150M (▲577%)
5( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$176M
9
-
10
2
Food Tech (Healthify)
(# Cos: 873 | $753M)
Novel Foods (TurtleTree)
(# Cos: 35 | $256M)
Food Products (Umami Meats)
(# Cos: 32 | $211M)
Alternative Proteins (Growthwell)
(# Cos: 20 | $211M)
Meat Substitute (Shiok Meats)
(# Cos: 12 | $207M)
Plant Based (Next Gen Foods)
(# Cos: 10 | $176M)
Next Gen Foods
(2020, $132M)
Growthwell
(1989, $30.0M)
Green Rebel
(2021, $7.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Next Gen Foods (2020)
$100M - Series A - Feb 2022
$20.0M - Seed - Jul 2021
Growthwell (1989)
$22.0M - Series A - Sep 2021
Green Rebel (2021)
$7.0M - Seed - Apr 2022
WTH (2019)
$1.2M - Seed - Oct 2021

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Rewards and Cashback Apps - Southeast
Asia
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$150M (▲275%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$292M
5
-
13
1
Coupons and Deals (Giladiskon)
(# Cos: 265 | $477M)
Rewards & Cashback (Snapcart)
(# Cos: 75 | $423M)
Online (Happihub)
(# Cos: 35 | $406M)
Horizontal (Fave)
(# Cos: 35 | $406M)
Mobile (ShopBack)
(# Cos: 13 | $292M)
ShopBack
(2014, $260M)
Fave
(2015, $32.0M)
Happihub
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ShopBack (2014)
$150M - Series B - Mar 2022

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards -
Southeast Asia
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$148M (▲3518%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$152M
2
-
6
2
Finance & Accounting Tech (BukuWarung)
(# Cos: 540 | $695M)
Accounting Solutions (BukuKas)
(# Cos: 404 | $622M)
Procure to Pay (Spenmo)
(# Cos: 39 | $163M)
Travel & Expense (Jojonomic)
(# Cos: 17 | $158M)
Card Solutions (Volopay)
(# Cos: 6 | $152M)
Volopay
(2020, $31.1M)
Spenmo
(2019, $121M)
Xpensio
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Spenmo (2019)
$85.3M - Series B - Feb 2022
$34.0M - Series A - Sep 2021
Volopay (2020)
$29.0M - Series A - Mar 2022

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Retail Banking - Southeast Asia
24
32
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$148M (▲605%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$175M
1
-
3
1
Banking Tech (Active.Ai)
(# Cos: 290 | $1.4B)
Internet First Banks (Aspire)
(# Cos: 52 | $331M)
Digital Native Banks (Opal Payment)
(# Cos: 6 | $175M)
Retail Banking (TONIK)
(# Cos: 3 | $175M)
TONIK
(2018, $175M)
Salaam Bank NEEBank
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TONIK (2018)
$131M - Series B - Feb 2022
$17.0M - Series A - May 2021

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
CPG Brands E-Commerce Software Suite
- Southeast Asia
25
33
Back to index
Brands Tech (Trax)
(# Cos: 41 | $1.6B)
ECommerce Software (SIRCLO)
(# Cos: 15 | $295M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$128M (▲814%)
7(▲40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$295M
10
-
15
6
SIRCLO
(2013, $92.0M)
Anchanto
(2011, $16.1M)
aCommerce
(2013, $119M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SIRCLO (2013)
$36.0M - Series B - Sep 2021
$45.0M - Series B - May 2021
Great Deals E-Commerce (2017)
$30.0M - Series B - May 2021
Intrepid (2017)
$11.0M - Series B - Jun 2021
etaily (2020)
$4.3M - Seed - Jan 2022
$1.6M - Seed - Aug 2021
Jet Commerce (2017)
Undisclosed - Seed - Feb 2022

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Hummingbird Bioscience (2015)
$125M - Series C - May 2021
Pan-Cancer Drugs - Southeast Asia
26
34
Back to index
Oncology (Mirxes)
(# Cos: 38 | $779M)
Drugs (ASLAN Pharmaceuticals)
(# Cos: 24 | $506M)
Pan Cancer (Hummingbird Bioscience)
(# Cos: 3 | $151M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$125M (▲1983%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$151M
2
-
3
1
Hummingbird Bioscience
(2015, $150M)
CytoMed Therapeutics
(2018, $1.1M)
Auxi Therapeutics
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Grocery Marketplaces - Southeast
Asia
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$123M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$123M
1
-
3
1
B2B E-Commerce (Moglix)
(# Cos: 356 | $1.8B)
Food & Beverages (TreeDots)
(# Cos: 56 | $411M)
Groceries (ShopUp)
(# Cos: 51 | $411M)
Multi Category (OctoRocket.asia)
(# Cos: 4 | $123M)
Marketplace (Growsari)
(# Cos: 3 | $123M)
Growsari
(2016, $123M)
OctoRocket.asia Mungmee
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Growsari (2016)
$77.5M - Series C - Mar 2022
$45.0M - Series C - Jan 2022
Undisclosed - Series B - Jun 2021

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Sygnum (2018)
$120M - Series B - Jan 2022
Flint (2021)
$5.1M - Seed - Jan 2022
Cryptocurrency Banking - Southeast Asia
28
36
Back to index
Cryptocurrencies (PDAX)
(# Cos: 1247 | $1.1B)
Financial Services (Coins.ph)
(# Cos: 877 | $935M)
Banking (Sygnum)
(# Cos: 17 | $130M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$120M (▲5966%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$130M
5
-
17
3
Sygnum
(2018, $120M)
Hodlnaut Flint
(2021, $5.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Exchanges - Southeast
Asia
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$119M (▲612%)
10(▲42.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$204M
44
-
301
5
Cryptocurrencies (imToken)
(# Cos: 1247 | $1.1B)
Financial Services (Coins.ph)
(# Cos: 877 | $935M)
Investment Industry (Liquid)
(# Cos: 588 | $625M)
Crypto Exchanges (PDAX)
(# Cos: 301 | $204M)
PDAX
(2017, $62.5M)
Liquid
(2014, $20.0M)
Kyber Network
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PDAX (2017)
$50.0M - Series B - Feb 2022
$12.5M - Series A - Aug 2021
Zipmex (2018)
$11.0M - Series B - Mar 2022
$41.0M - Series B - Aug 2021
zkLink (2019)
$8.5M - Series A - Oct 2021
Sparrow Exchange (2018)
$4.4M - Series A - Nov 2021
NASDEX (2021)
$1.1M - Seed - Aug 2021
View all 10 Funding Rounds on Tracxn Platform

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Matrixport (2019)
$100M - Series C - Aug 2021
EvryNet (2018)
$7.0M - Series A - Oct 2021
CYBAVO (2018)
$4.0M - Seed - Jun 2021
AntEx (2019)
$2.5M - Seed - Oct 2021
Carb0n.fi (2021)
$600K - Series A - Jan 2022
hi (1994)
Undisclosed - Seed - Jul 2021
Crypto Financial Services - Southeast
Asia
30
38
Back to index
Cryptocurrencies (imToken)
(# Cos: 1247 | $1.1B)
Financial Services (PDAX)
(# Cos: 877 | $935M)
Diversified (Coins.ph)
(# Cos: 113 | $160M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$114M (▲2984%)
6(▲500%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$160M
22
-
113
3
Coins.ph
(2014, $10.0M)
Matrixport
(2019, $129M)
CRYPTO
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online P2P Second Hand Goods Listings -
Southeast Asia
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$110M (▲37.5%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$387M
9
-
72
2
Horizontal E-Commerce (Tokopedia)
(# Cos: 581 | $6.9B)
Second Hand (Kaskus)
(# Cos: 90 | $390M)
Listings (OLX Indonesia)
(# Cos: 73 | $387M)
P2P (Carousell)
(# Cos: 72 | $387M)
Carousell
(2013, $373M)
OLX Indonesia
(2005, $13.7M)
Kaidee
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carousell (2013)
$10.0M - Series E - Nov 2021
$100M - Series E - Sep 2021

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Web Based Platform for Doctor
Consultation - Southeast Asia
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$104M (▲29.1%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$317M
17
-
126
2
Healthcare Booking Platforms (Homage)
(# Cos: 674 | $519M)
Doctors (Alodokter)
(# Cos: 308 | $419M)
Telemedicine (Riliv)
(# Cos: 178 | $319M)
Teleconsultation (Halodoc)
(# Cos: 176 | $319M)
Diversified (Doctor Anywhere)
(# Cos: 126 | $317M)
Doctor Anywhere
(2015, $135M)
Halodoc
(2016, $180M)
EDoctor
(2014, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Doctor Anywhere (2015)
$104M - Series C - Aug 2021
Medici
Undisclosed - Seed - Feb 2022
Undisclosed - Seed - Aug 2021

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
White Label Wallet Solutions - Southeast
Asia
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M (▲388%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$159M
4
1
12
1
Payments (Grab)
(# Cos: 1048 | $20.3B)
Enablers (Tookitaki)
(# Cos: 76 | $251M)
White Label Solutions (Wallet Engine)
(# Cos: 29 | $173M)
Wallets (MatchMove)
(# Cos: 12 | $159M)
MatchMove
(2009, $156M)
Wallet Engine
(2014, $2.4M)
Kashmi
(2014, $530K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MatchMove (2009)
$100M - Series D - Jun 2021
Wallet Engine (2014)
$2.4M - Seed - Dec 2021

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplaces -
Southeast Asia
34
42
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$143M
10
-
21
5
B2B E-Commerce (Moglix)
(# Cos: 356 | $1.8B)
Food & Beverages (Growsari)
(# Cos: 56 | $411M)
Groceries (TaniHub)
(# Cos: 51 | $411M)
Farm Products (ShopUp)
(# Cos: 30 | $253M)
Marketplace (TreeDots)
(# Cos: 21 | $143M)
TreeDots
(2017, $15.0M)
TaniHub
(2015, $94.0M)
Eden Farm
(2017, $20.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TaniHub (2015)
$65.5M - Series B - May 2021
Eden Farm (2017)
$19.0M - Series A - Nov 2021
TreeDots (2017)
$11.0M - Series A - Nov 2021
AgriAku (2021)
$6.0M - Seed - Mar 2022
Undisclosed - Seed - Dec 2021

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First NFC Prepaid Cards -
Southeast Asia
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$100M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$101M
3
-
7
1
Payments (Gojek)
(# Cos: 1048 | $20.3B)
Consumer Payments (Grab)
(# Cos: 470 | $17.3B)
Payment Cards (Volopay)
(# Cos: 61 | $321M)
Prepaid Cards (YouTrip)
(# Cos: 53 | $290M)
General Purpose (MyMy)
(# Cos: 36 | $108M)
Reloadable (PayMaya)
(# Cos: 36 | $108M)
NFC (BigPay)
(# Cos: 7 | $101M)
BigPay
(2017, $100M)
FlexM
(2014, $866K)
YoloPay
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BigPay (2017)
$100M - Series A - Aug 2021

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Custodian Services -
Southeast Asia
36
44
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$98.0M (▲1533%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$105M
5
-
9
2
Cryptocurrencies (imToken)
(# Cos: 1247 | $1.1B)
Financial Services (Coins.ph)
(# Cos: 877 | $935M)
Investment Industry (PDAX)
(# Cos: 588 | $625M)
Custodian Services (Hex Trust)
(# Cos: 9 | $105M)
Hex Trust
(2018, $104M)
Onchain Custodian Atato
(2017, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hex Trust (2018)
$88.0M - Series B - Mar 2022
$10.0M - Series A - Oct 2021
Undisclosed - Series A - Jul 2021

45. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Bioplastics - Southeast Asia
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$95.1M (▼28.5%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$263M
2
-
3
1
Advanced Materials (Nodis)
(# Cos: 28 | $265M)
Biomaterials (BIOSTARCH)
(# Cos: 6 | $263M)
Biodegradable Polymers (Osteopore)
(# Cos: 4 | $263M)
Bioplastics (RWDC Industries)
(# Cos: 3 | $263M)
RWDC Industries
(2015, $263M)
BIOSTARCH Global Biopolymers
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
RWDC Industries (2015)
$95.1M - Series B - Nov 2021

46. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Trading Platforms -
Southeast Asia
38
46
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$95.0M (▲ >10K%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
16
-
125
4
Cryptocurrencies (imToken)
(# Cos: 1247 | $1.1B)
Financial Services (Coins.ph)
(# Cos: 877 | $935M)
Investment Industry (PDAX)
(# Cos: 588 | $625M)
Online Trading Platforms (AscendEX)
(# Cos: 192 | $205M)
Regular Trading (Pintu)
(# Cos: 125 | $104M)
Pintu
(2016, $41.0M)
AscendEX
(2018, $50.0M)
Phemex
(2016, $5.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AscendEX (2018)
$50.0M - Series B - Nov 2021
Pintu (2016)
$35.0M - Series A - Aug 2021
$6.0M - Series A - May 2021
Cabital (2020)
$4.0M - Seed - Sep 2021

47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Free Float Electric Kick Scooter Rentals -
Southeast Asia
39
47
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$93.0M (▲258%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$135M
1
-
3
1
Electric Vehicles (ION Mobility)
(# Cos: 173 | $304M)
Vehicle as a Service (BlueSG)
(# Cos: 34 | $175M)
Kick Scooters (Neuron)
(# Cos: 13 | $175M)
Free Float (Beam)
(# Cos: 3 | $135M)
Beam
(2018, $135M)
Scootbee OoGyaa
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Beam (2018)
$93.0M - Series B - Feb 2022

48. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Mutual Fund Investment Platforms -
Southeast Asia
40
48
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$90.0M (▲282%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$131M
5
-
13
3
Investment Tech (OurCrowd)
(# Cos: 960 | $1.5B)
Online Trading Platforms (Ajaib)
(# Cos: 433 | $499M)
Public Market Funds (Bareksa)
(# Cos: 14 | $131M)
Mutual Funds (Pluang)
(# Cos: 13 | $131M)
Pluang
(2019, $113M)
Bareksa
(2013, $3.5M)
FINNOMENA
(2016, $13.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pluang (2019)
$55.0M - Series C - Jan 2022
$35.0M - Series B - Sep 2021
Bareksa (2013)
Undisclosed - Series C - Nov 2021
Makmur (2020)
Undisclosed - Seed - Sep 2021

49. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Personal Loans
Marketplace - Southeast Asia
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$90.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$129M
8
1
79
2
Alternative Lending (Investree)
(# Cos: 733 | $3.1B)
Online Lenders (Akulaku)
(# Cos: 559 | $2.7B)
Consumer Loans (Kredivo)
(# Cos: 309 | $1.4B)
Personal Loans (UangMe)
(# Cos: 115 | $164M)
Marketplace (JULO)
(# Cos: 79 | $129M)
JULO
(2016, $105M)
UangMe
(2018, $24.0M)
KTC
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
JULO (2016)
$30.0M - Series B - Apr 2022
$60.0M - Series B - Feb 2022

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
CPG Brands Storefronts - Southeast Asia
42
50
Back to index
Brands Tech (Trax)
(# Cos: 41 | $1.6B)
Storefront (LummoSHOP)
(# Cos: 3 | $140M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$80.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$140M
3
-
3
1
LummoSHOP
(2019, $140M)
Ecomobi Chatgenie
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
LummoSHOP (2019)
$80.0M - Series C - Jan 2022
Chatgenie
Undisclosed - Seed - Nov 2021

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Payroll Management - Southeast Asia
43
51
Back to index
HRTech (Healthify)
(# Cos: 1779 | $542M)
Payroll Management (Multiplier)
(# Cos: 82 | $92.2M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$77.2M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$92.2M
8
-
82
3
Multiplier
(2020, $77.2M)
HReasily
(2015, $5.0M)
Sprout
(2015, $7.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Multiplier (2020)
$60.0M - Series B - Mar 2022
$13.2M - Series A - Nov 2021
$4.0M - Seed - Jul 2021

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Fitness & Nutrition Training & Planning Apps -
Southeast Asia
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$75.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$100M
1
-
17
1
Fitness & Wellness Tech (Riliv)
(# Cos: 391 | $111M)
Physical Fitness (Fitnesia)
(# Cos: 248 | $105M)
Fitness and Diet Training Apps (Sirka)
(# Cos: 117 | $103M)
Fitness & Nutrition (Active8Me)
(# Cos: 24 | $100M)
Apps (Okfits)
(# Cos: 18 | $100M)
Training & Planning (Healthify)
(# Cos: 17 | $100M)
Healthify
(2012, $100M)
Okfits Myfitsociety
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Healthify (2012)
$75.0M - Series C - Jul 2021

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Kumu (2017)
$73.7M - Series C - Oct 2021
Undisclosed - Series B - Jun 2021
OTT Live Streaming Distribution
Solutions - Southeast Asia
45
53
Back to index
OTT Video (iflix)
(# Cos: 223 | $756M)
Video Distribution (GoStream)
(# Cos: 19 | $103M)
Live Streaming (Kumu)
(# Cos: 13 | $100M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$73.7M (▲391%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$100M
6
-
13
1
Kumu
(2017, $100M)
GoStream GoStudio
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

54. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent funding rounds
Investment Trends
Most Active Investors
Top Funded Business Models
Explore more on Tracxn
All Tech Companies
Southeast Asia Tech Companies
Online Travel Companies
Companies using AI in Healthcare
Companies founded by Stanford GSB Alumni
Soonicorn club in Fintech
Analyst Picks in Southeast Asia Tech
Key News in FinTech
Events in United States
Angel Investors in Southeast Asia
Bluebox
Companies Investment Activity
Miscellaneous
Company Detail Page of Grab
Competitors of Traveloka
Cap Table for TransferWise
Financials for Ola
Employee Count for Revolut
Company Due Diligence Exits
Public Companies
Acquired Companies
Most Active Acquirers
Reports
Delhivery - Company Report
Novel Foods - Business Model Report
HRTech - Feed Report
FinTech - Top Business Models Report
US Tech - Top Business Models Report
US Tech - Monthly Report
54

55. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore other Reports on Tracxn
HRTech
InsurTech
Food Tech
Novel Foods
Blockchain Network
P2P Remittance
Business Model Reports
Consumer Digital - SEA
Enterprise Tech - SEA
FinTech - SEA
Feed Geo Reports
Company Reports
Monthly Unicorn Report
Unicorn Reports
Transferwise
Coursera
BigBasket
Feed Reports Top Business Models in PA
FinTech
Enterprise Applications
Artificial Intelligence
Geo Monthly Reports
US Tech
Europe Tech
China Tech
Top Business Models in Geo
India Tech
Israel Tech
UK & Ireland Tech
55

56. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Thank You
56
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Limited including but not limited to the information
contained herein ("Data") is the sole property of Tracxn Technologies Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the Data or any portion
thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any other party, except
with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations or tools for your
customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com