How to build a $425m business with no code and boundaries

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} I don’t know if it was the pandemic or perhaps firms like Binance that normalized it, but where a firm is headquartered or based doesn’t seem relevant anymore (though one might say it still very much matters in the case of crypto). For journalists, this is a boilerplate question we don’t think twice about asking and a characterization we often make. But recent conversations with several fintech firms - and the increasingly global nature of companies - are making me rethink this. Primer, a no-code payments and commerce platform, is one of those companies. In a recent interview with its co-founder Gabriel Le Roux, I learned that the firm is fully remote. While Le Roux himself is based in London, the firm employs some 120 employees across 35 countries. It makes sense given the firm’s business model. Primer helps its clients - merchants looking to expand overseas or integrate their workflows - to add and enable over 100 payment, communication, fraud detection, and tax apps with just a few clicks. Because Primer doesn’t handle customer funds, it doesn’t need to hold payment licenses like a typical payments firm would need to in each country - I think that’s pretty genius. I almost forgot to mention: Primer is valued at US$425 million and its backers include Iconiq, the family office managing wealth for the likes of Jack Dorsey and Mark Zuckerberg. If this has piqued your interest about the company, you can read more about what Primer has in store for Asia Pacific [here.]( -- [Melissa Goh]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Ex-Paypal execs’ no-code ‘app store for businesses’ eyes APAC next]( In the last 12 months, Primer has seen a 20% month-on-month growth in total payment volume processed in the region. 2. [YC shrinks cohorts, sees less SEA, India investments]( The California-based accelerator has seen a dwindling number of startups from Southeast Asia and India in its recent cohorts. 3. [Bukalapak’s financial performance in 7 charts]( These charts help visualize the latest financial figures reported by the Indonesian ecommerce major. 4. [Castlery’s FY 2022 revenue triples, but reports loss due to heavy investments in the US]( The Singapore-based furniture firm generated US$57 million in revenue from the US, which is now its largest market. 5. [50 rising startups in Southeast Asia]( Which startups are on the path to becoming the next big thing? 6. [Oriente staff decry abrupt dismissal, unpaid salaries as Vietnam and Indonesia units shutter]( The fintech firm, whose CEO left last year, has struggled to bounce back after its offline lending business was hit hard by the pandemic. 7. [SEA’s listed tech majors in 11 charts: Bukalapak’s unprofitable year]( These companies could dictate whether more global investors will back Southeast Asia and decide the fate of the region's tech industry. 8. [VC funds tracker: Iron Pillar closes $129m growth-stage fund]( Fundraising is difficult. To make things easier, we have compiled a detailed list of the most recent VC funds for our subscribers. 9. [Cloned cards and buying followers: tracking prices on the Dark Web]( Cloned credit and debit cards are on offer for low prices on shady websites, but “premium quality” malware installs will cost you a pretty penny. 10. [Why this serial entrepreneur keeps going after 2 failed startups]( For Michael Luhukay, failure is an option. Since investors today want to back founders who can bounce back, “the more you fail, the better,” he says. ---------------------------------------------------------------  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](. [logo] [Lead Business Development]( at TLab Jakarta, Indonesia Sales & Business Development [logo] [Sales Manager]( at PT. 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