Here's how Sunrate got (and stayed) in the black

More: SoftBank Vision Funds’ H1 2023 results and Airwallex’s revenue growth in Singapore. [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 Sunrate’s got revenue and profit]( - Grab’s first time hitting adjusted EBITDA profitability - Other newsy highlights such as Airwallex’s increased revenue in Singapore and SoftBank Vision Funds’ results for H1 2023 --------------------------------------------------------------- Hello {NAME} In recent years, making a profit has become increasingly important for startups. Growth is still crucial, yes, but doing so “at all costs” isn’t the right move anymore. That’s why I’ve enjoyed reading [In The Black]( a series of articles from our newsroom profiling profitable startups in the region. It’s interesting to see how these firms have managed to build sustainable businesses. Some chose to eschew venture funding so that they aren’t beholden to investors pushing for growth. Others are very tactical about their marketing and operating spend. Whatever strategy they go with, these startups all manage to make and sustain profits. And on that note, today’s premium story is another one from In The Black. We hear from Sunrate, a global payment and treasury management platform for businesses. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [How Sunrate reached $100m in annualized revenue while staying profitable]( The Singapore-headquartered company has been net profitable since 2021. --------------------------------------------------------------- TRENDING NEWS [Grab registers its first adjusted profit ever]( Delivering a strong quarter, the company narrowed its loss by 71% and grew its revenue by 61% during the period. [Airwallex’s Singapore revenue grows 13x in H1 2023]( The company plans to continue to expand and invest in the country, including increasing its headcount to 200 next year. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: ChangXin dominates with $5.3b raise]( Keep track of all the startup investment activities in Asia through our weekly funding list. --------------------------------------------------------------- AN EXCLUSIVE GATHERING OF SENIOR BUSINESS LEADERS RSVP to meet executives from Meta, P&G, GoTo, UOB, Agoda, and more! Are you ready to spice up your decision-making game and get creative with your global scaling strategies? For one night only, Tech in Asia and G-P are holding an event for senior business leaders, talent managers, and founders that you wouldn’t want to miss! Happening at Bridge+ on November 16, link up with peers from Meta, P&G, GoTo, UOB, Oracle, Agoda, Obayashi, VMLY&R, Ant Group, Circles.Life, and more to get inside scoops and helpful tips to supercharge your decision-making strategies. You’ll be in for a casual and insightful evening filled with networking opportunities, free-flowing refreshments, fun quizzes, an interactive panel, an open Q&A, a modern calligraphy activity, and more - it’s all on the house! There’s only a handful of spots left so hurry! [RSVP here to claim your seat before it’s snatched up](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [How to design a solid global growth plan with G-P]( on November 16 G-P is hosting a panel discussion and networking session to share how companies can approach a new era of growth. Find out what lies ahead with Allen Jaeyoon Lee, head of people at Aspire, Rachelle Alexis Lim, executive director of strategy and business development at 2C2P, and Kevin Sutantyo, partner at Sovereign's Capital. Sign up for the event [here](. - [Tech in Asia’s Founders Meetup: Vietnam on November 30]( Did you miss us last June? Great news - we’re coming back to Ho Chi Minh City on November 30 for another round of our networking event! With over 3,000+ startups and four unicorns, Vietnam is poised to become a prominent startup hub in Southeast Asia. While opportunities abound in Vietnam’s startup scene, issues like talent shortage and regulatory hurdles also persist. Need some insights on how to navigate and thrive in this scene? Come join us at the Hive Villa (29 Nguyễn Bá Lân, Thảo Điền, Quận 2, Thà nh phố Hồ Chí Minh 713385, Vietnam) from 6:30 p.m. to 8:30 p.m (GMT+7). Connect with fellow startup leaders to learn how you can grow beyond the early stages of your journey and explore solutions to pressing concerns. [Sign up now!](  - [Brushstrokes to Success: Design a Solid Growth Plan for 2024 on November 16]( Time to get creative and spice up your decision-making game with fellow senior leaders, talent managers, and founders! Hosted at Bridge+ on November 16, mingle with peers from Meta, P&G, GoTo, UOB, Oracle, Agoda, Obayashi, VMLY&R, Ant Group, Circles.Life, and more to get insider tips on supercharging your strategies. Come enjoy an evening filled with networking opportunities, free-flowing refreshments, fun quizzes, an interactive panel, an open Q&A, a modern calligraphy activity, and more - it’s all on the house! [Tickets are almost gone so grab yours now](  - [Tech in Asia x Airwallex - Exclusive Mixer]( Mingle with APAC's Payment and Growth Leaders on November 14 Meet and connect with your peers at Exclusive Mixer: Mingle with APAC's Payment and Growth Leaders, an invite-only networking event on November 14 co-hosted by Tech in Asia and Airwallex. This isn’t your run-off-the-mill corporate event. It’s a gathering of forward-thinkers across Asia Pacific and anyone eager to discover best practices in optimizing and streamlining payment journeys at scale. Grab drinks and light bites while soaking up Singapore’s cityscapes from Honcho’s rooftop bar as you mingle. Come hang out and unwind at this relaxed and casual mixer - all refreshments are on the house [Get your ticket]( to this closed-door event and build lasting connections. Slots are limited so secure yours NOW! ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - Dexian - [DISYS Operations in Malaysia, Singapore, and Thailand Rebranded to Dexian Asia Pacific]( Extends global platform of staffing and business solutions throughout the APAC Region. - ChargeSini - [ChargeSini Signed MOU with Mydin Hypermarkets!]( ChargeSini today officialling inked a (MoU) with Mydin Hypermarket with total of 24 outlets with ChargeSini. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Manager Human Resources Consulting]( at DataOn Corp Indonesia Bulk Terminal, Indonesia - [Internal Auditor]( at Jakmall Jakarta, Indonesia - [Senior Backend Engineer]( at PT Tricada Intronik Bandung, Java, Indonesia - [Telesales Specialist (Lamudi)]( at Dealls Jakarta, Indonesia - [Backend Engineer]( at Scout.inc Jakarta, Indonesia - [Operations Intern]( at Ematic Solutions Bangkok, Thailand [ADVERTISE]( | [SUBSCRIBE]( P.S. 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