Arisan of the times: Mapan modernizes Indonesian customs

More: Ola Electric’s search for US$300 million [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [How this startup is bringing the traditional concept of arisan into the digital age]( - Tencent running into some revenue stagnation - Other newsy highlights such as Ola Electric’s plans to raise US$300 million --------------------------------------------------------------- Hello {NAME} The cool thing about working in a company that covers news across a diverse region - and employs a similarly multicultural workforce - is that I get to learn interesting things about Southeast Asia almost every day. I learn about Filipino culture from copyediting lead Eileen (who’s likely editing this very passage as we speak); Bahasa Indonesian slang from Susi, my comrade in the creative team; and insights into the Malaysian tech scene from newsroom colleague Emmanuel, mainly via his weekly [Dan Lain-Lain]( column. Today’s premium piece - by another newsroom colleague, Jofie - is about an Indonesian startup called Mapan that has digitalized the concept of arisan, a family tradition that encourages saving money and familial bonding. Read on to find out more. -- Winston  ---------------------------------------------------------------  THE BIG STORY [This Indonesian social commerce firm digitalized ‘arisan’ and grew revenue 3x]( GoTo-backed Mapan added a digital spin to the practice of ”arisan,” a traditional rotating savings and credit scheme in Indonesian culture. --------------------------------------------------------------- TRENDING NEWS [ShopeePay links with Indonesia’s BI-Fast for faster fund transfers]( ShopeePay is the first digital payment service platform to integrate with BI-Fast. [Mizuho leads BNPL giant Kredivo’s $270m round]( Kredivo had planned to go public via a SPAC deal last year but scrapped it due to unfavorable market conditions. [FTX to retrieve $404m in settlement with investment fund Modulo]( Modulo Capital was founded early last year by Bankman-Fried’s acquaintances Xiaoyun Zhang and Duncan Rheingans-Yoo, Bloomberg noted. [Winners and losers of SG and India’s novel PayNow-UPI linkage]( The real-time linkage may increase the convenience of cross-border payments but it’s less revolutionary than you’d think. [Tencent sees first-ever annual revenue decline in FY 2022]( However, chair and CEO Ma Huateng said the tech giant is poised to benefit from China’s economic recovery, which he says is “now underway.” [Ola Electric eyes up to $300m raise in new round]( The firm previously earmarked over US$900 million to build the world’s largest EV hub in the Indian state of Tamil Nadu. ---------------------------------------------------------------  TECH IN ASIA'S FOUNDERS MEETUP: PHILIPPINES Join us and share the hardest challenges you’ve faced as a founder If you’re an entrepreneur based in the Philippines, you’re invited to Tech in Asia’s Regional Founders Meetup, which will be held on April 25 at Draper Startup House – 5048 P. Burgos St., Makati City – from 5:30 p.m. to 7:30 p.m. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Starting up doesn’t have to be a lonely journey. [Register]( for this exclusive event here today. Tickets are priced at US$12.50 per person, inclusive of light bites and one drink. Slots are limited and are available on a first come, first served basis. Thanks to our official event partners - AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network (SGN), and Quest Ventures - and our community partners - AHG Lab and Weremote - for making this meetup possible. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Product Development Conference 2023]( from May 16 to May 17 Tech in Asia’s Product Development Conference is back! This year’s edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. [Register now]( to get 40% off (get additional discounts exclusively for TIA subscribers)! - [Tech in Asia’s Founders Meetup: Philippines]( on April 25 Our networking event, Founders Meetup: Philippines, is happening in Manila on April 25 at Draper Startup House. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Marketing Lead]( at Hangry Jakarta, Indonesia - [Jr CX Consultant]( at Asa Inovasi Indonesia Jakarta, Indonesia - [Sales Team Leader - Surabaya]( at 99 Group (99.co) Surabaya, Indonesia - [Data Center Network Engineer]( at Female Daily Network Jakarta, Indonesia - [Direct Selling Team (DST) Supervisor]( at FOOM Lab Global Jakarta, Indonesia - [Backend Developer]( at PT LOG KAR INDONESIA Medan, Sumatra, Indonesia [ADVERTISE]( | [SUBSCRIBE]( 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. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894