'Jockeys' shine in the depths of Indonesia's fintech jungle

Check out our top articles for the week. [Read from your browser]( Top Stories of The Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} “New year, new me!” We’ve all heard this phrase countless times at the end of the year and, perhaps, even used it ourselves every now and then. Whether it's starting a business, taking a gym membership, or learning a new language, there’s something about the new year that pushes us to re-evaluate, seek out firsts, and set resolutions to improve. Unfortunately, that’s the easy part. Following through on your latest commitments is an entirely different ball game as determination and discipline dwindle once the new year fades into being just another year. We’ve all been there and I’m no different. My French hasn’t gotten any better in the last decade, while my singing is still best performed in the shower. Hopefully, though, the millions of Indonesians set to enter the formal financial system for the first time will set a better example. Ideally, financial education would’ve helped them weave through the archipelago’s complex fintech wilderness in search of services to power their aspirations. But we don’t live in an ideal world. In the festive week’s top story, my colleague, Putra, highlights how many first-time Indonesian borrowers are backed into a corner and forced to seek a rather shady solution in the form of online lending “jockeys” to escape a potential debt spiral. He also charts the rise of these “jockeys,” dissects how they are able to source the cash needed to repay loans within hours or even minutes, and why their existence in the first place lays bare some of the deficiencies in fintech lending in Indonesia. -- [Shravanth Vijayakumar]( Newsletter editor at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [The ‘jockeys’ traversing Indonesia’s fintech wilderness]( For the many Indonesians drowning in a pile of debt, there is a solution - albeit a shady one. 2. [Investors are betting on this e-bike startup to electrify Vietnam’s roads]( Going niche in a niche segment, Dat Bike has cultivated users who are so engaged, they give the startup constant feedback for product improvement. 3. [How crypto is killing seed phrases to usher in mass adoption]( Expect to hear more about MPC and Account Abstraction in 2023, as well as the beginning of the end for seed phrases. 4. [Mass firing, less hiring: Can Indonesia see hope in a grim job market?]( The oversupply of talent and scarcity of jobs spell difficulty for many job seekers. But this may benefit the ecosystem in the long term. 5. [Nasdaq-bound Zoomcar takes SPAC route despite bear warnings]( Since pivoting to an Airbnb model has yielded growth, Zoomcar is unperturbed by market turbulence as it gears up for a public listing in 2023. 6. [Series SEA: Who’s investing in the region’s ecommerce startups?]( We've compiled a list of investors that are pouring money into Southeast Asia’s ecommerce startups. 7. [Sinar Mas Land’s dual approach to create Indonesia’s Silicon Valley]( The company’s new investment arm scouts startups to join its ecosystem while the tech hub is designed to house innovation builders. 8. [These are the most active investors in Vietnam’s startups]( Which investors are writing the most checks to Vietnam-based startups? 9. [Capital SEA: Southeast Asia’s funding landscape (updated 28 Dec 2022)]( Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more. 10. [Recession Run: CCV says autonomous tech, AI, robotics startups are the future]( Zhou Wei, founding partner of CCV, shares his insights on the startups that will redefine the next decade of technological innovation and more. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Front End Developer (Vox Teneo)]( at Deall Jobs Bandung, Java, Indonesia Software Engineer [logo] [Account Executive Canvasser SMB Beranda Toko]( at PT. 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