Coming off a strong 2022, Validus eyes profits by end-2024

More: PropertyGuru posts a net income after four quarters in the red. [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 Validus nearly doubled its revenue in 2022]( - Flash Coffee finds a lifeline in Thailand - Other newsy highlights such as PropertyGuru’s net income reversal --------------------------------------------------------------- Hello {NAME} After a brutal 2020 that saw lending volumes [shrink by nearly 75%]( during the pandemic, digital financing platform Validus bounced back in 2022. The Singapore-based company almost doubled its revenue between 2021 and 2022 on the back of strong lending momentum from SMEs. Despite macro headwinds this time around, the fintech firm appears resilient: Validus is expecting to achieve profitability on an EBITDA basis by the fourth quarter of 2024. -- Melissa  ---------------------------------------------------------------  THE BIG STORY [SME financing firm Validus improves loss margin, doubles revenue]( The Vertex Ventures-backed company is eyeing EBITDA profitability by Q4 2024. --------------------------------------------------------------- TRENDING NEWS [PropertyGuru returns to net income in Q3 (Update)]( The company also reported a 13.2% increase in revenue to US$29.2 million for the quarter. [Turn Capital’s new fund makes first acquisition with Flash Coffee Thailand deal]( Turn Capital plans to expand the coffee chain’s presence across Thailand by opening more than 100 new stores in the next two years. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Hot or not: What SEA investors are betting on and what they’re ignoring]( VC funding can be a leading indicator of where in the tech industry we’re going to see more spending and jobs. --------------------------------------------------------------- IN PARTNERSHIP WITH Getting that perfect timing Getting the timing right is crucial to food delivery. If there’s a long gap between when an order is ready and when it gets picked up, the food will be cold by the time it reaches the customer. However, sending riders to a restaurant too early is inefficient. To streamline this process, Grab gathers accurate data on how long it takes for riders to reach the restaurant and then pick up the order. The company is doing this by leveraging a technology we’re all familiar with: Bluetooth. By using Bluetooth beacons, the Nasdaq-listed firm can automatically track the arrival and departure of its driver-partners from restaurants. As a result, it gets precise data on food preparation times to optimize the experience for everyone. [Learn more]( about this on InsideGrab, the super app’s official blog. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Founders Meetup: Vietnam on November 30]( We’re making our way back to Ho Chi Minh City on November 30 for our tenth Founders Meetup! Get a glimpse of the startup journey of Bryan Pelz, the co-founder of VNG and Bootloader Studio. Hear what he and Peter Cowan, Tech in Asia’s engagement editor, have to say about what it’s like to build and scale a startup in Vietnam. Plus, exchange ideas and tips with your fellow founders on how to navigate your own startup journey. Don’t miss out! Join us at the Hive Villa (29 Nguyễn Bá Lân, Thảo Điền, Quận 2, Thà nh phố Hồ Chí Minh 713385, Vietnam) on November 30 from 6:30 p.m. to 8:30 p.m. (GMT+7). Hurry, tickets are selling like hotcakes - [RSVP now before they’re all sold out](  - [Tech in Asia’s Regional Founders Meetup: Singapore on December 5]( Calling all Singapore-based founders! We’re concluding this year’s Regional Founders Meetup event series at the Lion City, where it all began. As Tech in Asia gears up for its next adventure with SPH Media, our founder and CEO Willis Wee will share his startup journey and give insights on what it takes to pull off an M&A deal in a fireside chat moderated by our COO Maria Li. Join us at Mortar & Pestle (269 South Bridge Rd, Level 4, Singapore 058818) on December 5 from 6:00 p.m. to 8:00 p.m. (SGT) to connect with fellow founders and end the year with a bang. Hurry, tickets are selling like hotcakes - [RSVP now before they run out]( Note: This event is closed-door and strictly off the record - no media buzz, please! While Willis and Maria will share as much about the M&A deal as possible, confidential terms will not be disclosed. ---------------------------------------------------------------  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. - Augmentus - [Augmentus Raises Oversubscribed USD 5M Series A Round to Bring No-Code Robotics to the World]( Augmentus pioneers intelligent, no-code computer vision and robot motion planning, enabling industrial robot programming in minutes instead of days. - NeuAlgo - [NeuAlgo’s SD-MBS Revolutionizes AI-Enhanced Content Delivery]( NeuAlgo's CEO announced a milestone in AI-optimized content delivery with the SD-MBS framework. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Sr. iOS Developer]( at SwipeRx Jakarta, Indonesia - [Senior Copywriter]( at MIFX Indonesia Jakarta, Indonesia - [Data Analyst]( at Moladin Digital Indonesia Jakarta, Indonesia - [Host Live Streaming]( at Jakmall Jakarta, Indonesia - [Data Scientist Lecturer - Batam]( at Scout.inc Batam Island, Indonesia - [Junior Graphic Designers (Based in Selangor - Malaysia)]( at Kitabisa.com Batu Caves, Malaysia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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