The biggest “buy now, pay later” players in Southeast Asia

More: BharatPe is closing in on unicorn status and TikTok sees hope in the US [Read from your browser]( Daily Newsletter Hello {NAME} The number of “buy now, pay later” (BNPL) advertisements I’ve seen lately in Singapore can almost rival the amount of hype surrounding Clubhouse. We have one BNPL player plastering their advertisements all over Singapore’s central district, and we have another that’s inside almost every Samsung store I enter. They definitely did their marketing right, because I’m having some kind of FOMO about not being on any BNPL platform yet. And I might not be the only one: BNPL adoption is set to grow exponentially in the coming years, and Asia Pacific is going to be a key driver. Today we look at: - The [who’s who]( in Southeast Asia’s “buy now, pay later” market - The startup that raised money to make websites more accessible - Other newsy highlights such as India-based digital payments startup BharatPe closing in on unicorn status and TikTok seeing hope in the US  ---------------------------------------------------------------  PREMIUM SUMMARY  Shop 'til you drop Buy now, pay later (BNPL) is getting a lot of attention these days, attracting players including Southeast Asian super app Grab and ecommerce major Shopee to jump on the opportunity. The excitement isn’t surprising, considering how Asia Pacific is expected to be the fastest-growing region in BNPL adoption between 2020 to 2027. But who are the players getting all the hype? - Big, but not enough: Although Grab and Shopee have joined the BNPL battle, both of them are available only in two Southeast Asian markets. Atome is leading the game with its presence in five markets, and Hoolah and Pine Lab are making plans to operate in six. - The countries that are lovin’ it: According to the Tech in Asia chart, it’s clear that some markets are getting the most attention from BNPL players: Indonesia, Malaysia, the Philippines, and Singapore. - Funding interest: Southeast Asian BNPL players are getting more attention from both investors and companies. The number of funding deals in the region’s BNPL space hit a record number last year, and Australia-based Afterpay acquired Indonesian fintech startup EmpatKali in August. Read more with charts: [Southeast Asia’s biggest buy now, pay later players](  ---------------------------------------------------------------  STARTUP SPOTLIGHT Making websites more accessible Most of us are glued to our screens every day reading news, buying online groceries, and hailing rides. But for those with disabilities, they might face difficulties doing these same actions. Web accessibility solution provider AccessiBe helps them with that, and it has recently completed its [series A round of US$28 million](. - Backstory: Founded in 2018, AccessiBe has built a technology that scans and modifies the codes and behaviors of websites in real time to make them more accessible for people with disabilities. - Achievement: The company claims that its annual recurring revenue grew by over 3.5x in the last 12 months. - Future plans: AccessiBe plans to expand its US presence, continue to educate the market on the importance of accessibility, and invest in its research and development department.  ---------------------------------------------------------------   QUICK BYTES  1️⃣ A soon-to-be unicorn emerges India-based digital payments startup BharatPe recently raised [US$108 million in a series D]( round at a valuation of US$900 million. But that’s not all: The company is looking to raise another US$100 million after March and an additional US$200 million in debt from banks and other institutions this year.  2️⃣ TikTok celebrates The Biden administration is [putting a pause on the lawsuit]( over former US President Donald Trump’s ban of popular short-video app TikTok. However, the US government will still be including TikTok in a wider examination that also involves looking into the delisting of Chinese companies from US stock markets.  3️⃣ A Singtel data breach A third-party file-sharing system used by Singapore telco giant Singtel was [hacked]( in December last year, which may have compromised customer information. Singtel is working with cyber security experts and relevant authorities, including the Cyber Security Agency of Singapore, to assess the extent of the data breach.  4️⃣ Snap and ShareChat partners up The US-based social media company Snap has [partnered]( with India’s popular social network ShareChat. The partnership will see Snap integrating its Camera Kit, which unlocks a range of augmented reality features, into ShareChat’s short-video app Moj.  5️⃣ Malaysia Boleh! Malaysia- and US-based motion graphics platform LottieFiles has [acquired Indian design asset marketplace Iconscout]( for an undisclosed sum. This transaction will give LottieFile access to over 2.2 million assets ranging from vector graphics to illustrations and 3D graphics. The platform, which counts Adobe as its investor, claims to have recorded a 300% year-on-year growth.   ---------------------------------------------------------------  EVENTS HAPPENING - Unicon 2021 on February 20 and 21 Organized by National University of Singapore, Unicon strives to connect student entrepreneurs and industry professionals all over the world. Hear from innovative tech leaders including Hilmar Hahn (marketing director, Razer Asia-Pacific), Josephine Chow (head of expansion, Shopback), and Pam Chuang (head of growth, Revolut). Grab [your tickets here](. - [Workshop] Building a cap table that attracts investors on February 24 To help you navigate the complex world of equity and common cap table struggles, Tech in Asia has invited Michael Lints, partner at Golden Gate Ventures, to give a master class on cap table building. [Register for this event]( to learn what information must be included in a cap table, and the most common cap table mistakes, their effects, and how to avoid them. *RSVP at no additional cost for Tech in Asia Core and Live subscribers. - Digital Distribution & Ecosystems: Virtual Summit on February 25 The pandemic has prompted many insurers to emphasize the importance of digital transformation. To find out how you can embrace new technologies to get ahead, join InsurTech Connect Asia's virtual summit to learn key market trends and topics from Asia’s insurance innovation leaders. Speakers at the event include Val Yap (founder, PolicyPal), Yashish Dahiya (group CEO and co-founder, PolicyBazaar), Aaron Tan (CEO and founder, Carro), and many more. Get your [ticket]( today. - Tech in Asia’s Product Development Conference on April 7 and 8 This year’s conference is centered around a single goal: helping companies build outcome-oriented products. With five tracks from strategy to analytics, we want you to come out of this conference with product and engineering tips to build a winning product. You can get the ticket at an [early bird discount]( today for just US$15 (usual price US$50). Existing Tech in Asia Core, Live, and ID+ subscribers can RSVP at no additional cost [here](.  ---------------------------------------------------------------  WHO'S HIRING - [Senior Software Engineer]( at Funded.jobs (Singapore, Singapore) - [Product Operations]( at Ruangguru.com (Jakarta, Indonesia) - [Communication Executive]( at Sampingan (Jakarta, Indonesia)  ---------------------------------------------------------------  SHARE WITH YOUR FRIEND Don’t leave your co-workers behind! Share this with them so that they can keep up with what’s going on in the region’s tech scene. Feel free to [drop us some feedback]( if our newsletter today got you feeling smarter (or if it didn’t).  ---------------------------------------------------------------  Thanks for reading! Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi (or tea). [ADVERTISE]( | [PREMIUM]( | [JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Was this forwarded to you? You can read this everyday when you sign up [here](. Don't want to receive these emails anymore? [Unsubscribe](.  ---------------------------------------------------------------  Today’s edition is written by Betty Chum, with contributions from Melissa Goh and Doris Yu. It’s edited by September Grace Mahino. Copyright © 2021 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554