Regtech, SEA IPOs hit a record, and e-Laundry? | Trusted Bytes News



It looks like COVID-19 is setting the stage for a regtech boom! Also, Southeast Asian companies raise record funds at the bourses in the first half of 2021, and, could e-laundry be a sign of the times for India?


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Regtech, SEA IPOs hit a record, and e-Laundry? | Trusted Bytes News

It looks like COVID-19 is setting the stage for a regtech boom! Also, Southeast Asian companies raise record funds at the bourses in the first half of 2021, and, could e-laundry be a sign of the times for India?

Welcome to Trusted Bytes! Here we give you week’s highlights in business news and emerging trends, with a lens on Asia. I’m your host Adrian Koh. If you like your news distilled like this, subscribe to us on YouTube or on any of your favourite podcasting services.

We keep hearing how COVID-19’s changed the world, and nowhere is it more apparent in the financial services sector. The rush to digitalise customer experiences and compliance has led to a nice uptick in adoption for regulatory technology, or regtech. In Asia, we’ve already seen the first wave of regtech companies build solutions over the past five years and the pandemic’s really set to accelerate that. Regulators in Singapore and Hong Kong have already transformed regulatory frameworks and investors have followed that with their chequebooks. What does this mean for consumers? Hassle-free banking, increased access to financial services, and potentially digital currencies could accelerate business.

It’s not without its downsides, though – there’s still much to be resolved on consumer data privacy and protection, and this is likely to give some pause for governments before giving the blank cheque to companies that innovate.

Companies in Southeast Asia are raising capital at record levels through IPOs in 2021, with $4.9 billion raised in the first half of 2021. Indonesia leads this pack with the highest number of IPOs in history. And we’re not even counting Bukalapak’s debut on the stock exchange on 6 August.

On a related note, investments in startups in Singapore saw a boost in funding, raising nearly $4 billion from 355 deals in the first half of 2021 alone. That’s 56% more than the same period last year. The Singapore government is looking to maintain the momentum with Seeds Capital, which is the investment arm of Enterprise Singapore, and will be looking to channel funds into deep tech startups under the Startup SG Equity Scheme. Singapore’s government schemes have learnt a lot through the past decade of their startup programme, and apart from money, the Startup SG Equity Scheme is looking to help speed up time to market, and support startups with mentorship and potential clients.

Finally, we have some news on the laundry services market in India, which is said to be worth $15 billion by 2025, said Tech in Asia in a recent report. Both B2C and B2B startups are launching to find innovative ways to serve growing demand, with over a hundred startups emerging in the past five years. So like what we’ve been saying in the past weeks, and why India is becoming such a hotbed for digital transformation, is that we’re witnessing a full shift in the Indian subcontinent towards modern, digital services. Exciting to see that’s next.

And that's all the time we have for now. Check in with us again next week for more highlights from the news from Trusted Bytes. I’m Adrian Koh, and Trusted Bytes is a production of Trusted Services.

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