Two months of no salaries for Zilingo’s Philippines staff

More: Indian EV battery-swapping firm Battery Smart raises US$25 million, and Bangladesh’s ShopUp wins US$65 million in funds. [Read from your browser]( Daily Newsletter Hello {NAME} A credit card bill, a home loan installment, groceries, and a massive bag of pet food: These are just some of the things I paid for this morning after my monthly salary came in hours ago. Salary is one thing we probably take for granted when everything seems hunky dory, but even a hiccup in that routine can throw a monkey wrench into our cycle of bills and life in general. Imagine what it’s like for the Philippine-based employees of the beleaguered Zilingo who have not been paid salaries for two months now. More on this in a bit. Given that we are in a season of layoffs, our regularly updated hiring tracker is open to all to access: [Check it out for jobs in tech companies]( across Southeast Asia, China, and India. Times are tough, and fundraising can be tougher in these times. So if you are fundraising or know someone who is, [fill up this form]( so we can get the word out. -- Nikita  ---------------------------------------------------------------  THE BIG STORY [Zilingo Philippines delays salaries amid company’s uncertain future]( Zilingo's management team in the Philippines plans to sell office assets to pay employee salaries, which have been stalled nearly two months.  --------------------------------------------------------------- SYNC As the world opens up, we’re happy to announce that our premier tech summit for the region’s top business leaders and decision-makers, SYNC, is going to be held in Bali, Indonesia, from August 3 to 5. This closed-door, invite-only summit will bring together some of Asia’s biggest changemakers and open up opportunities through a mix of open and structured interactions. Sign up [here]( for an invite.  --------------------------------------------------------------- TRENDING NEWS [Singapore VC Panthera Growth raises first half of $250m second fund]( The firm expects to complete the rest of its target by the end of this year and invest in a dozen companies with an average check size of US$20 million. [Gojek-backed audio firm plays cashy tune]( VC-backed Noice plans to adopt a creator-driven revenue model by the end of 2022. Will it succeed in an industry plagued by monetization woes? [Bukalapak founder’s non-profit backs Indonesian clean energy startup]( Powerbrain helps companies manage and minimize power consumption in their buildings and properties. [Google backs Indian fintech startup’s $40m series C round]( Progcap has achieved annualized disbursals of US$1 billion and reached 4x year-on-year growth. [Bertelsmann banks $500m to back Indian startups]( Bertelsmann India Investments plans to invest in the series A rounds of three to four startups every year. [Indian unicorn Udaan lays off around 200 employees]( Sources told The Economic Times that the company called the layoffs “unusual,” though they were an effort to be “more prudent economically.” ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - *Event* [Fintech Forum]( on July 7 Join us at this year's Fintech Forum, hosted by Tech in Asia and Amazon Web Services (AWS). 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