Check out our latest report on top #BusinessModels in built using #Tracxn's #proprietary #taxonomy rebrand.ly/fs8jpbo Subscribe for free to receive the latest reports of your geo of interest delivered to your mailbox

1. TRACXN TOP BUSINESS MODELS REPORT
February 21, 2022
SOUTHEAST ASIA TECH

2. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
Southeast AsiaSoutheast Asia Tech
Funding - Overview
3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Funding in last 1 year
3
Logistics Tech $6.4B
Payments $2.5B
Alternative Lending $1.2B
Auto E-Commerce & Content $1.0B
Brands Tech $950M
B2B E-Commerce $870M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
East Ventures
Global Founders Capital
41
20
17
Early
Stage
East Ventures
ACVentures
Alpha JWC Ventures
20
20
14
Late
Stage
Sequoia Capital
Tiger Global Management
EDBI
8
7
6
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
J&T Express
(2015, )
$2.5B - Series C
J&T Express
(2015, )
$2.0B - Series C
EMERITUS
(2010, )
$650M - Series E
Trax
(2010, )
$640M - Series E
Ninja Van
(2014, )
$578M - Series E
Grab
(2012, )
$375M - Series H
CARRO
(2015, )
$360M - Series C
Mynt
(2015, )
$300M - Series D
Gojek
(2010, )
$300M - Series H
Carsome
(2015, )
$300M - Series E
Tiki
(2010, )
$258M - Series E
Acronis
(2003, )
$250M - Series E
Singapore (44%)
Jakarta (37%)
Ho Chi Minh City (3%)
Hanoi (3%)
Petaling Jaya (2%)
Others (11%)

4. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲1 Digital Wallets $998M 7 Grab | $375M | Series H Link
2▲5 Last Mile Ecommerce Delivery Services $748M 2 Ninja Van | $578M | Series E Link
3▼2 B2C Hyperlocal Delivery $675M 3 Grab | $375M | Series H Link
4-- Online Professional Learning Courses $650M 2 EMERITUS | $650M | Series E Link
5-- In-Store Retail Analytics $640M 1 Trax | $640M | Series E Link
6-- Retail Stores Operations Video Analytics $640M 1 Trax | $640M | Series E Link
7-- CPG Brands Analytics $640M 1 Trax | $640M | Series E Link
8▲22 C2B Used Cars Marketplaces $512M 3 Carsome | $300M | Series E Link
9▼3 Multi Products Marketplaces $492M 5 Tiki | $258M | Series E Link
10▼6 Car Ride Hailing $492M 4 Grab | $375M | Series H Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▲65 P2P Used Cars Marketplaces $483M 4 CARRO | $360M | Series C Link
12▲78 Business Payments Solutions $465M 4 VNPAY | $250M | Series B Link
13-- Online B2B Horizontal Retailers $382M 5 Moglix | $250M | Series F Link
14▼11 Card Linked Digital Wallets $375M 1 Grab | $375M | Series H Link
15▼10 Two Wheeler Ride Hailing $300M 1 Gojek | $300M | Series H Link
16▼3 P2P Wallet Remittance $300M 1 Mynt | $300M | Series D Link
17▼3 Internet First Lenders $300M 1 Mynt | $300M | Series D Link
18▼6 Online Business Payments $274M 7 Voyager Innov.. | $167M | Series E Link
19-- Internet First Point of Sale Financing Marketplaces $252M 4 FinAccel | $125M | Series C Link
20-- Endpoint Security $250M 1 Acronis | $250M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Omnichannel Banking Solutions $250M 1 VNLIFE | $250M | Series B Link
22-- Backup and Disaster Recovery $250M 1 Acronis | $250M | Series E Link
23-- Data Backup and Recovery $250M 1 Acronis | $250M | Series E Link
24▲2 B2B E-Commerce Software Suite $210M 4 GudangAda | $100M | Series B Link
25▲117 Remittance Softwares for Enterprises $205M 3 NIUM | $200M | Series D Link
26-- Life Sciences Research Instruments $200M 1 Esco Lifescie.. | $200M | Series A Link
27▼9 Internet First P2P Business Loans $190M 5 Funding Socie.. | $144M | Series C Link
28▲5 Web Based Platform for Doctor Consultation $184M 4 Doctor Anywhere | $104M | Series C Link
29▲34 Online K-12 Chinese Tutoring $162M 3 LingoAce | $105M | Series C Link
30-- PC and Console Casual NFT Game Developers $160M 2 Sky Mavis | $152M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▼2 B2B Grocery Marketplace $155M 5 Ula | $87.0M | Series B Link
32▲32 Plant Based Meat Substitutes $153M 6 Next Gen Foods | $100M | Series A Link
33-- Advertisement Based Video On Demand $150M 1 Vidio | $150M | Series D Link
34-- Video Sharing Platforms $150M 4 Vidio | $150M | Series D Link
35▼1 Retail Banking $148M 2 TONIK | $131M | Series B Link
36▼28 Residential Real Estate Listings $147M 2 PropertyGuru | $147M | Series D Link
37▲56 Pan-Cancer Drugs $125M 1 Hummingbird B.. | $125M | Series C Link
38▲116 Cryptocurrency Banking $120M 2 Sygnum | $120M | Series B Link
39▲70 Corporate Travel & Expense Cards $119M 2 Spenmo | $85.3M | Series B Link
40▼17 B2B Horizontal Marketplaces $113M 5 Ula | $87.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41▲74 Mutual Fund Investment Platforms $110M 5 Pluang | $55.0M | Series C Link
42▲14 Cryptocurrency Exchanges $108M 9 PDAX | $50.0M | Series B Link
43▲70 Crypto Financial Services $107M 5 Matrixport | $100M | Series C Link
44▼3 White Label Wallet Solutions $102M 2 MatchMove | $100M | Series D Link
45-- Electric Two Wheeler Battery Swapping $102M 3 Oyika | $100M | Series C Link
46-- PC and Console Gaming Platforms $101M 6 Metaworld | $100M | Series C Link
47-- Mobile Gaming Platforms $100M 3 Metaworld | $100M | Series C Link
48-- Internet First NFC Prepaid Cards $100M 1 BigPay | $100M | Series A Link
49▲69 Cryptocurrency Trading Platforms $95.6M 5 AscendEX | $50.0M | Series B Link
50▲1 B2B Farm Produce Marketplaces $95.5M 5 TaniHub | $65.5M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Grab (2012)
$375M - Series H - Jul 2021
Mynt (2015)
$300M - Series D - Nov 2021
Gojek (2010)
$300M - Series H - May 2021
MoMo (2007)
$200M - Series E - Dec 2021
Ascend Money (2013)
$150M - Series C - Sep 2021
Flip (2016)
$48.0M - Series B - Dec 2021
TNG Digital (2017)
Undisclosed - Seed - Jul 2021
Digital Wallets - Southeast Asia
01
9
Back to index
Payments (Xendit)
(# Cos: 899 | $19.4B)
Consumer Payments (Gojek)
(# Cos: 387 | $17.2B)
Wallets (Grab)
(# Cos: 169 | $16.8B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$998M (▼43.7%)
7(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$16.8B
32
-
169
11
Grab
(2012, $10.4B)
Gojek
(2010, $4.9B)
LinkAja
(2019, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Ninja Van (2014)
$578M - Series E - Sep 2021
SiCepat (2014)
$170M - Series B - Mar 2021
Last Mile Ecommerce Delivery Services -
Southeast Asia
02
10
Back to index
Logistics Tech (Grab)
(# Cos: 1119 | $22.7B)
Ecommerce Logistics (Shipper)
(# Cos: 207 | $2.2B)
Last Mile (Ninja Van)
(# Cos: 34 | $1.4B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$748M (▲48.7%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.4B
3
-
34
2
Ninja Van
(2014, $1.1B)
SiCepat
(2014, $324M)
Giaohangtietkiem.vn
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2C Hyperlocal Delivery - Southeast Asia
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$675M (▼75.1%)
3(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.3B
12
-
136
2
Logistics Tech (Ninja Van)
(# Cos: 1119 | $22.7B)
Parcel (J&T Express)
(# Cos: 385 | $20.0B)
Hyperlocal Delivery (Gojek)
(# Cos: 241 | $15.3B)
B2C (Grab)
(# Cos: 136 | $15.3B)
Grab
(2012, $10.4B)
Gojek
(2010, $4.9B)
Skootar
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012)
$375M - Series H - Jul 2021
Gojek (2010)
$300M - Series H - May 2021
Lozi.vn (2014)
Undisclosed - Series C - Feb 2021

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online Professional Learning Courses -
Southeast Asia
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$650M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$691M
10
-
130
1
Continued Learning (Hacktiv8)
(# Cos: 670 | $727M)
Professional (Genius U)
(# Cos: 309 | $712M)
Online Learning (Mindvalley)
(# Cos: 304 | $701M)
Multi Disciplinary (Kyna.vn)
(# Cos: 143 | $692M)
Online Courses (EMERITUS)
(# Cos: 130 | $691M)
EMERITUS
(2010, $690M)
Kyna.vn Mindtera
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
EMERITUS (2010)
$650M - Series E - Aug 2021
Mindtera (2021)
Undisclosed - Seed - Aug 2021

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
In-Store Retail Analytics - Southeast Asia
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$640M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
2
-
2
1
Big Data Analytics (Crayon Data)
(# Cos: 72 | $1.1B)
Industry Solutions (Abivin)
(# Cos: 19 | $1.0B)
Retail (Tapway)
(# Cos: 4 | $1.0B)
In-Store (Trax)
(# Cos: 2 | $1.0B)
Trax
(2010, $1.0B)
Tapway
(2012, $41.6K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trax (2010)
$640M - Series E - Apr 2021

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Retail Stores Operations Video Analytics
- Southeast Asia
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$640M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
1
-
1
1
In Store Retail Tech (Moka)
(# Cos: 378 | $1.5B)
Analytics (Snapcart)
(# Cos: 28 | $1.1B)
Operations Intelligence (Milky Way AI)
(# Cos: 6 | $1.0B)
Diversified (Palexy)
(# Cos: 4 | $1.0B)
Video (Trax)
(# Cos: 1 | $1.0B)
Trax
(2010, $1.0B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trax (2010)
$640M - Series E - Apr 2021

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Trax (2010)
$640M - Series E - Apr 2021
CPG Brands Analytics - Southeast Asia
07
15
Back to index
Brands Tech (SIRCLO)
(# Cos: 36 | $1.4B)
Analytics (Ai Palette)
(# Cos: 6 | $1.0B)
Diversified (Trax)
(# Cos: 2 | $1.0B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$640M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
2
-
2
1
Trax
(2010, $1.0B)
Slicer
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
C2B Used Cars Marketplaces - Southeast
Asia
08
16
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$512M (▲1604%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$661M
7
-
17
3
Auto E-Commerce & Content (MoneyMax)
(# Cos: 433 | $1.4B)
Second Hand Vehicles (Carmudi Indonesia)
(# Cos: 156 | $1.3B)
Cars (CARRO)
(# Cos: 127 | $1.3B)
C2B Marketplace (Carsome)
(# Cos: 17 | $661M)
Carsome
(2015, $586M)
Moladin
(2016, $43.2M)
myTukar
(2017, $30.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carsome (2015)
$300M - Series E - Jan 2022
Carsome (2015)
$170M - Series D - Sep 2021
Moladin (2016)
$42.0M - Series A - Jan 2022

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Multi Products Marketplaces - Southeast
Asia
09
17
Back to index
Horizontal E-Commerce (Tokopedia)
(# Cos: 557 | $6.4B)
Marketplace (Bukalapak)
(# Cos: 196 | $5.3B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$492M (▼61.6%)
5(▼16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$5.3B
38
1
196
1
Bukalapak
(2010, $584M)
Tokopedia
(2009, $3.3B)
Lazada
(2012, $690M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tiki (2010)
$258M - Series E - Nov 2021
Bukalapak (2010)
$234M - Series G - Apr 2021
Selly (2021)
$2.6M - Seed - Feb 2022
Poptron (2019)
$120K - Seed - Aug 2021
Atome (2016)
Undisclosed - Seed - Oct 2021

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Car Ride Hailing - Southeast Asia
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$492M (▼63.9%)
4(▼55.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.5B
13
1
149
2
Road Transport Tech (Beam)
(# Cos: 759 | $15.6B)
Ride Hailing (Gojek)
(# Cos: 249 | $15.4B)
Cars (FastGo)
(# Cos: 193 | $10.5B)
Taxi (TADA)
(# Cos: 179 | $10.5B)
Intracity (MVL Foundation)
(# Cos: 167 | $10.5B)
Aggregator (Grab)
(# Cos: 149 | $10.5B)
Grab
(2012, $10.4B)
MVL Foundation
(2018, $125M)
TADA
(2018, $15.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012)
$375M - Series H - Jul 2021
MVL Foundation (2018)
$100M - Series C - Feb 2022
MVL Foundation (2018)
$15.0M - Series B - Apr 2021
EMDDI (2016)
$2.0M - Series A - Jun 2021

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Used Cars Marketplaces - Southeast
Asia
11
19
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$483M (▲4287%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$602M
3
-
9
1
Auto E-Commerce & Content (MoneyMax)
(# Cos: 433 | $1.4B)
Second Hand Vehicles (Carmudi Indonesia)
(# Cos: 156 | $1.3B)
Cars (Carsome)
(# Cos: 127 | $1.3B)
P2P Marketplace (CARRO)
(# Cos: 9 | $602M)
CARRO
(2015, $602M)
Otobro Caramo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CARRO (2015)
$360M - Series C - Jun 2021
CARRO (2015)
$100M - Series C - Nov 2021
CARRO (2015)
$15.6M - Series C - Dec 2021
CARRO (2015)
$7.0M - Series C - Jan 2022

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
VNPAY (2007)
$250M - Series B - Aug 2021
Xendit (2015)
$150M - Series C - Sep 2021
Xendit (2015)
$64.6M - Series B - Mar 2021
Doku (2007)
$32.0M - PE - Aug 2021
Business Payments Solutions - Southeast
Asia
12
20
Back to index
Payments (Grab)
(# Cos: 899 | $19.4B)
Business Payments (Moka)
(# Cos: 439 | $1.9B)
Diversified (Xendit)
(# Cos: 52 | $948M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$465M (▲7489%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$948M
14
2
52
7
Xendit
(2015, $238M)
MC Payment
(2005, $8.0M)
2C2P
(2003, $85.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Moglix (2015)
$250M - Series F - Jan 2022
Moglix (2015)
$120M - Series E - May 2021
Dagangan (2008)
$11.5M - Series A - Sep 2021
EI Industrial (2018)
$670K - Seed - Oct 2021
Dagangan (2008)
Undisclosed - Seed - Jun 2021
Online B2B Horizontal Retailers -
Southeast Asia
13
21
Back to index
B2B E-Commerce (ShopUp)
(# Cos: 331 | $1.7B)
Horizontal (Ula)
(# Cos: 77 | $808M)
E-Distributor (Moglix)
(# Cos: 22 | $505M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$382M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$505M
6
1
22
3
Moglix
(2015, $471M)
Bhinneka
(1993, $22.0M)
Dagangan
(2008, $11.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets - Southeast
Asia
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$375M (▼75.5%)
1(▼83.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.6B
4
-
20
2
Payments (Xendit)
(# Cos: 899 | $19.4B)
Consumer Payments (LinkAja)
(# Cos: 387 | $17.2B)
Wallets (Gojek)
(# Cos: 169 | $16.8B)
Card Linked (Grab)
(# Cos: 20 | $10.6B)
Grab
(2012, $10.4B)
GCash
(2015, $175M)
GT Dollar
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012)
$375M - Series H - Jul 2021

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Gojek (2010)
$300M - Series H - May 2021
Two Wheeler Ride Hailing - Southeast
Asia
15
23
Back to index
Road Transport Tech (Beam)
(# Cos: 759 | $15.6B)
Ride Hailing (Grab)
(# Cos: 249 | $15.4B)
Motorized Two-Wheelers (Gojek)
(# Cos: 44 | $4.9B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$300M (▼77.8%)
1(▼80%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.9B
5
-
44
1
Gojek
(2010, $4.9B)
Angkas Teknojek
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance - Southeast Asia
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$300M (▲71.4%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$481M
3
-
35
2
Remittance (NIUM)
(# Cos: 156 | $1.1B)
Internet First Platforms (InstaReM)
(# Cos: 129 | $588M)
P2P Remittance (Fastacash)
(# Cos: 94 | $516M)
Wallet Transfer (Mynt)
(# Cos: 35 | $481M)
Mynt
(2015, $475M)
Numoni
(2012, $4.8M)
FlexM
(2014, $866K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mynt (2015)
$300M - Series D - Nov 2021

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - Southeast Asia
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$300M (▲71.4%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$497M
2
-
36
2
Alternative Lending (Modalku)
(# Cos: 718 | $2.5B)
Online Lenders (Kredivo)
(# Cos: 545 | $2.1B)
Diversified (KoinWorks)
(# Cos: 93 | $608M)
Direct Lender (UangTeman)
(# Cos: 36 | $497M)
UangTeman
(2014, $22.0M)
Mynt
(2015, $475M)
Findaya
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mynt (2015)
$300M - Series D - Nov 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Voyager Innovations (2013)
$167M - Series E - Jun 2021
OY! (2017)
$45.0M - Series A - Jul 2021
OY! (2017)
$30.0M - Series A - Sep 2021
Xfers (2014)
$30.0M - Series A - Mar 2021
Durianpay (2020)
$2.0M - Seed - Aug 2021
9Pay (2018)
Undisclosed - Seed - Apr 2021
Dragonpay (2010)
Undisclosed - Series B - Jul 2021
Online Business Payments - Southeast
Asia
18
26
Back to index
Payments (Grab)
(# Cos: 899 | $19.4B)
Business Payments (Xendit)
(# Cos: 439 | $1.9B)
Online Payments (Coda Payments)
(# Cos: 191 | $791M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$274M (▲37%)
7(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$791M
29
-
191
7
Coda Payments
(2011, $25.2M)
Voyager Innovations
(2013, $502M)
InstaReM
(2014, $59.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing
Marketplaces - Southeast Asia
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$252M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$507M
5
-
12
2
Alternative Lending (Investree)
(# Cos: 718 | $2.5B)
Online Lenders (Modalku)
(# Cos: 545 | $2.1B)
Consumer Loans (CICIL)
(# Cos: 297 | $803M)
Point of Sale Financing (Kredivo)
(# Cos: 37 | $668M)
Marketplace (Akulaku)
(# Cos: 12 | $507M)
Akulaku
(2014, $345M)
FinAccel
(2015, $160M)
Fundiin
(2018, $1.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FinAccel (2015)
$125M - Series C - Sep 2021
Akulaku (2014)
$125M - Series E - Jun 2021
Fundiin (2018)
$1.8M - Seed - Sep 2021
Fundiin (2018)
Undisclosed - Seed - Mar 2021

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Acronis (2003)
$250M - Series E - May 2021
Endpoint Security - Southeast Asia
20
28
Back to index
Cybersecurity (Horangi)
(# Cos: 414 | $592M)
Endpoint Security (Incognito)
(# Cos: 14 | $408M)
Endpoint UTM (Acronis)
(# Cos: 2 | $408M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$408M
1
-
2
1
Acronis
(2003, $408M)
Infinite Cybersecurity
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
VNLIFE (2007)
$250M - Series B - Jul 2021
Omnichannel Banking Solutions -
Southeast Asia
21
29
Back to index
Banking Tech (TONIK)
(# Cos: 282 | $1.3B)
Banking Channels (Active.Ai)
(# Cos: 25 | $575M)
Omnichannel (VNLIFE)
(# Cos: 12 | $551M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$551M
5
-
12
1
VNLIFE
(2007, $550M)
Bank Genie Wee Digital
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Backup and Disaster Recovery -
Southeast Asia
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$408M
2
-
23
1
IT Operations (Resolve)
(# Cos: 82 | $447M)
ITSM (Wiz)
(# Cos: 41 | $441M)
Continuity Management (Dropsuite)
(# Cos: 25 | $413M)
Backup and Disaster Recovery
(Acronis)
(# Cos: 23 | $408M)
Acronis
(2003, $408M)
2BrightSparks NaviClouDR
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Acronis (2003)
$250M - Series E - May 2021

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Acronis (2003)
$250M - Series E - May 2021
Data Backup and Recovery - Southeast
Asia
23
31
Back to index
Enterprise Storage (Dropmysite)
(# Cos: 43 | $422M)
Storage Management (Dropsuite)
(# Cos: 28 | $413M)
Backup & Recovery (Acronis)
(# Cos: 26 | $413M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$413M
5
1
26
1
Acronis
(2003, $408M)
Dropsuite
(2012, $5.0M)
Dropmysite
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
GudangAda (2019)
$100M - Series B - Jul 2021
ShopUp (2016)
$75.0M - Series B - Sep 2021
Zilingo (2015)
$35.0M - Series D - Jun 2021
Techsembly (2019)
$1.4M - Seed - Apr 2021
B2B E-Commerce Software Suite -
Southeast Asia
24
32
Back to index
B2B E-Commerce (Moglix)
(# Cos: 331 | $1.7B)
Technology Enablers (Zilingo)
(# Cos: 41 | $614M)
E Commerce Software Suite (ShopUp)
(# Cos: 18 | $592M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$210M (▲319%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$592M
8
-
18
3
ShopUp
(2016, $110M)
Zilingo
(2015, $343M)
GudangAda
(2019, $135M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
NIUM (2002)
$200M - Series D - Jul 2021
NIUM (2002)
$3.0M - Series D - Feb 2022
Wallet Engine (2014)
$2.4M - Seed - Dec 2021
Remittance Softwares for Enterprises -
Southeast Asia
25
33
Back to index
Remittance (InstaReM)
(# Cos: 156 | $1.1B)
Enablers (Thunes)
(# Cos: 16 | $433M)
Software for Enterprises (NIUM)
(# Cos: 11 | $303M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$205M (▲9679%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$303M
5
-
11
1
NIUM
(2002, $300M)
Qwikwire
(2013, $460K)
Wallet Engine
(2014, $2.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Esco Lifesciences (1978)
$200M - Series A - May 2021
Life Sciences Research Instruments -
Southeast Asia
26
34
Back to index
Life Sciences Platforms and Tools (Cordlife)
(# Cos: 138 | $542M)
Instruments (Curiox)
(# Cos: 19 | $215M)
Diversified (Esco Lifesciences)
(# Cos: 5 | $200M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$200M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$200M
1
-
5
1
Esco Lifesciences
(1978, $200M)
Biomedia Watech
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First P2P Business Loans -
Southeast Asia
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$190M (▲116%)
5(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$343M
14
-
26
7
Alternative Lending (Akulaku)
(# Cos: 718 | $2.5B)
Online Lenders (Kredivo)
(# Cos: 545 | $2.1B)
Business Loans (Modalku)
(# Cos: 139 | $723M)
Diversified (Validus)
(# Cos: 39 | $347M)
Marketplace (Funding Societies)
(# Cos: 32 | $347M)
P2P (Investree)
(# Cos: 26 | $343M)
Investree
(2015, $23.5M)
Funding Societies
(2015, $217M)
Validus
(2015, $80.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Funding Societies (2015)
$144M - Series C - Feb 2022
Validus (2015)
$37.5M - Series B - May 2021
Crowdo (2012)
$5.9M - Series A - Jan 2022
Komunal (2018)
$2.1M - Series A - Sep 2021
Funding Societies (2015)
Undisclosed - Series C - Oct 2021

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Web Based Platform for Doctor
Consultation - Southeast Asia
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$184M (▲567%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$317M
17
-
124
2
Healthcare Booking Platforms (Homage)
(# Cos: 656 | $505M)
Doctors (Alodokter)
(# Cos: 303 | $412M)
Telemedicine (Riliv)
(# Cos: 174 | $319M)
Teleconsultation (Halodoc)
(# Cos: 172 | $319M)
Diversified (Doctor Anywhere)
(# Cos: 124 | $317M)
Doctor Anywhere
(2015, $135M)
Halodoc
(2016, $180M)
EDoctor
(2014, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Doctor Anywhere (2015)
$104M - Series C - Aug 2021
Halodoc (2016)
$80.0M - Series C - Apr 2021
Medici
Undisclosed - Seed - Aug 2021
Medici
Undisclosed - Seed - Feb 2022

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online K-12 Chinese Tutoring -
Southeast Asia
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$162M (▲1143%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$182M
2
-
6
1
K-12 EdTech (Quipper)
(# Cos: 831 | $642M)
B2C Learning Solutions (Ruangguru)
(# Cos: 375 | $498M)
Language Learning (Cakap)
(# Cos: 60 | $198M)
Chinese (T-Lab)
(# Cos: 9 | $182M)
Online Tutoring (LingoAce)
(# Cos: 6 | $182M)
LingoAce
(2013, $180M)
T-Lab
(2020, $1.6M)
KIRIN Mandarin
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
LingoAce (2013)
$105M - Series C - Dec 2021
LingoAce (2013)
$55.0M - Series B - Oct 2021
T-Lab (2020)
$1.6M - Seed - Sep 2021

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
PC and Console Casual NFT Game
Developers - Southeast Asia
30
38
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$160M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$161M
2
-
2
1
PC & Console Gaming (Garena)
(# Cos: 213 | $1.1B)
Game Developers (VNG)
(# Cos: 110 | $200M)
PC & Console Games (IGG)
(# Cos: 79 | $196M)
Casual Games (MatchMove Games)
(# Cos: 51 | $161M)
NFTs (Sky Mavis)
(# Cos: 2 | $161M)
Sky Mavis
(2019, $161M)
Chumbi Valley
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sky Mavis (2019)
$152M - Series B - Oct 2021
Sky Mavis (2019)
$7.5M - Series A - May 2021

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Grocery Marketplace - Southeast
Asia
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$155M (▲363%)
5(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$196M
6
-
10
3
Online Grocery (HappyFresh)
(# Cos: 678 | $793M)
B2B Ecommerce (TaniHub)
(# Cos: 55 | $368M)
Multi-Category (FreshKet)
(# Cos: 16 | $196M)
Marketplace (Ula)
(# Cos: 10 | $196M)
Ula
(2019, $141M)
FreshKet
(2016, $3.0M)
Growsari
(2016, $45.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ula (2019)
$87.0M - Series B - Oct 2021
Growsari (2016)
$45.0M - Series C - Jan 2022
Ula (2019)
$23.1M - Series B - Nov 2021
Growsari (2016)
Undisclosed - Series B - Jun 2021
ProfilePrint (2020)
Undisclosed - Series A - Feb 2022

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Plant Based Meat Substitutes -
Southeast Asia
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$153M (▲1156%)
6(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$169M
9
-
10
2
Food Tech (Healthify)
(# Cos: 823 | $724M)
Novel Foods (TurtleTree)
(# Cos: 34 | $246M)
Food Products (Float Foods)
(# Cos: 31 | $201M)
Alternative Proteins (Growthwell)
(# Cos: 19 | $201M)
Meat Substitute (Shiok Meats)
(# Cos: 11 | $200M)
Plant Based (Next Gen Foods)
(# Cos: 10 | $169M)
Next Gen Foods
(2020, $132M)
Growthwell
(1989, $30.0M)
Green Butcher
(2020, $2.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Next Gen Foods (2020)
$100M - Series A - Feb 2022
Growthwell (1989)
$22.0M - Series A - Sep 2021
Next Gen Foods (2020)
$20.0M - Seed - Jul 2021
Next Gen Foods (2020)
$10.0M - Seed - Feb 2021
SGProtein (2020)
$3.0M - Seed - Mar 2021
WTH (2019)
$1.2M - Seed - Oct 2021

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Advertisement Based Video On Demand
- Southeast Asia
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$150M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$152M
2
-
22
0
OTT Video (POPS)
(# Cos: 202 | $745M)
OTT Streaming Platforms (Bigo Live)
(# Cos: 117 | $606M)
Video On Demand (VOD) (HOOQ)
(# Cos: 65 | $597M)
Film & TV (iflix)
(# Cos: 59 | $596M)
Ad-Supported (AVOD) (Viddsee)
(# Cos: 22 | $152M)
Viddsee
(2013, $2.3M)
Vidio
(2014, $150M)
OTV
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Vidio (2014)
$150M - Series D - Nov 2021

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Vidio (2014)
$150M - Series D - Nov 2021
Kumu (2017)
$73.6M - Series C - Oct 2021
Kumu (2017)
$15.0M - Series B - Mar 2021
Kumu (2017)
Undisclosed - Series B - Jun 2021
Video Sharing Platforms - Southeast Asia
34
42
Back to index
Social Platforms (Docquity)
(# Cos: 478 | $634M)
Horizontal (Kumu)
(# Cos: 188 | $532M)
Video Sharing (BIGO)
(# Cos: 26 | $523M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$150M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$523M
8
-
26
1
BIGO
(2014, $272M)
Kumu
(2017, $100M)
Vidio
(2014, $150M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Retail Banking - Southeast Asia
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$148M (▲448%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$175M
1
-
3
1
Banking Tech (Cermati)
(# Cos: 282 | $1.3B)
Internet First Banks (Aspire)
(# Cos: 51 | $331M)
Digital Native Banks (Opal Payment)
(# Cos: 6 | $175M)
Retail Banking (TONIK)
(# Cos: 3 | $175M)
TONIK
(2018, $175M)
Salaam Bank NEEBank
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TONIK (2018)
$131M - Series B - Feb 2022
TONIK (2018)
$17.0M - Series A - May 2021

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Residential Real Estate Listings -
Southeast Asia
36
44
Back to index
Residential Real Estate Tech (99 Group)
(# Cos: 403 | $1.4B)
Listings (PropertyGuru)
(# Cos: 288 | $1.3B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$147M (▼68.5%)
2(▼71.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
20
$1.3B
43
-
288
5
PropertyGuru
(2007, $642M)
99 Group
(2014, $25.5M)
PropertyGuru
(2007, $543M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PropertyGuru (2007)
$147M - Series D - Aug 2021
PropertyScout (2019)
Undisclosed - Seed - Jan 2022

45. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Hummingbird Bioscience (2015)
$125M - Series C - May 2021
Pan-Cancer Drugs - Southeast Asia
37
45
Back to index
Oncology (Eisai)
(# Cos: 37 | $779M)
Drugs (ASLAN Pharmaceuticals)
(# Cos: 23 | $506M)
Pan Cancer (Hummingbird Bioscience)
(# Cos: 3 | $151M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$125M (▲1983%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$151M
2
-
3
1
Hummingbird Bioscience
(2015, $150M)
CytoMed Therapeutics
(2018, $1.1M)
Auxi Therapeutics
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Sygnum (2018)
$120M - Series B - Jan 2022
Flint (2021)
$5.1M - Seed - Jan 2022
Cryptocurrency Banking - Southeast Asia
38
46
Back to index
Cryptocurrencies (PDAX)
(# Cos: 1196 | $968M)
Financial Services (Coins.ph)
(# Cos: 844 | $774M)
Banking (Sygnum)
(# Cos: 16 | $130M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$120M (▲5966%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$130M
5
-
16
3
Sygnum
(2018, $120M)
Flint
(2021, $5.1M)
Hodlnaut
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards -
Southeast Asia
39
47
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$119M (▲2708%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$124M
2
-
5
1
Finance & Accounting Tech (BukuWarung)
(# Cos: 508 | $652M)
Accounting Solutions (BukuKas)
(# Cos: 379 | $581M)
Procure to Pay (Spenmo)
(# Cos: 35 | $132M)
Travel & Expense (Jojonomic)
(# Cos: 15 | $129M)
Card Solutions (Volopay)
(# Cos: 5 | $124M)
Volopay
(2019, $2.3M)
Spenmo
(2019, $121M)
Xpensio
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Spenmo (2019)
$85.3M - Series B - Feb 2022
Spenmo (2019)
$34.0M - Series A - Sep 2021

48. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Ula (2019)
$87.0M - Series B - Oct 2021
Ula (2019)
$23.1M - Series B - Nov 2021
Dropee (2016)
$3.0M - Series A - Jan 2022
Burket (2018)
Undisclosed - Seed - Jun 2021
Eezee (2016)
Undisclosed - Seed - May 2021
B2B Horizontal Marketplaces -
Southeast Asia
40
48
Back to index
B2B E-Commerce (ShopUp)
(# Cos: 331 | $1.7B)
Horizontal (Moglix)
(# Cos: 77 | $808M)
Marketplace (Ula)
(# Cos: 36 | $301M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$113M (▲97.7%)
5(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$301M
15
-
36
3
Ula
(2019, $141M)
Ralali
(2015, $22.5M)
GudangAda
(2018, $36.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

49. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Mutual Fund Investment Platforms -
Southeast Asia
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$110M (▲3007%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$130M
4
-
11
2
Investment Tech (OurCrowd)
(# Cos: 862 | $1.5B)
Online Trading Platforms (Ajaib)
(# Cos: 382 | $482M)
Public Market Funds (Pluang)
(# Cos: 13 | $185M)
Mutual Funds (Bareksa)
(# Cos: 11 | $130M)
Bareksa
(2013, $3.5M)
Pluang
(2013, $113M)
FINNOMENA
(2016, $13.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pluang (2013)
$55.0M - Series C - Jan 2022
Pluang (2013)
$35.0M - Series B - Sep 2021
Pluang (2013)
$20.0M - Series A - Mar 2021
Bareksa (2013)
Undisclosed - Series C - Nov 2021
Makmur (2020)
Undisclosed - Seed - Sep 2021

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Exchanges - Southeast
Asia
42
50
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$108M (▲546%)
9(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$212M
41
-
297
5
Cryptocurrencies (Sygnum)
(# Cos: 1196 | $968M)
Financial Services (Coins.ph)
(# Cos: 844 | $774M)
Investment Industry (Liquid)
(# Cos: 561 | $474M)
Crypto Exchanges (PDAX)
(# Cos: 297 | $212M)
PDAX
(2017, $62.5M)
Liquid
(2014, $20.0M)
Kyber Network
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PDAX (2017)
$50.0M - Series B - Feb 2022
Zipmex (2018)
$41.0M - Series B - Aug 2021
PDAX (2017)
$12.5M - Series A - Aug 2021
zkLink (2019)
$8.5M - Series A - Oct 2021
Sparrow Exchange (2018)
$4.4M - Series A - Nov 2021
NASDEX (2021)
$1.1M - Seed - Aug 2021
CoinHako (2014)
Undisclosed - Series A - Dec 2021
View all 9 Funding Rounds on Tracxn Platform

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Matrixport (2019)
$100M - Series C - Aug 2021
CYBAVO (2018)
$4.0M - Seed - Jun 2021
AntEx (2019)
$2.5M - Seed - Oct 2021
Carb0n.fi (2021)
$600K - Series A - Jan 2022
hi (1994)
Undisclosed - Seed - Jul 2021
Crypto Financial Services - Southeast
Asia
43
51
Back to index
Cryptocurrencies (Sygnum)
(# Cos: 1196 | $968M)
Financial Services (PDAX)
(# Cos: 844 | $774M)
Diversified (Coins.ph)
(# Cos: 111 | $153M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$107M (▲2795%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$153M
23
-
111
2
Coins.ph
(2014, $10.0M)
Matrixport
(2019, $129M)
CRYPTO
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
White Label Wallet Solutions - Southeast
Asia
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M (▲388%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$159M
4
1
12
1
Payments (Grab)
(# Cos: 899 | $19.4B)
Enablers (GHL)
(# Cos: 69 | $249M)
White Label Solutions (Silot)
(# Cos: 27 | $173M)
Wallets (MatchMove)
(# Cos: 12 | $159M)
MatchMove
(2009, $156M)
Wallet Engine
(2014, $2.4M)
Kashmi
(2014, $530K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MatchMove (2009)
$100M - Series D - Jun 2021
Wallet Engine (2014)
$2.4M - Seed - Dec 2021

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Electric Two Wheeler Battery Swapping -
Southeast Asia
45
53
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$102M
2
-
3
1
Energy Storage Tech (VFlow Tech)
(# Cos: 69 | $105M)
Charging (Pinbus)
(# Cos: 38 | $102M)
Station Network (ReCharge)
(# Cos: 24 | $102M)
Battery Swapping (Swap&Go)
(# Cos: 3 | $102M)
Electric Vehicle (Oyika)
(# Cos: 3 | $102M)
Two Wheelers (Selex)
(# Cos: 3 | $102M)
Selex
(2018, $2.1M)
Oyika
(2018, $100M)
Swap&Go
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oyika (2018)
$100M - Series C - Apr 2021
Selex (2018)
$2.1M - Seed - Jan 2022
Oyika (2018)
Undisclosed - Series C - Jun 2021

54. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
PC and Console Gaming Platforms -
Southeast Asia
46
54
Back to index
PC & Console Gaming (IGG)
(# Cos: 213 | $1.1B)
Game Platforms (Garena)
(# Cos: 44 | $844M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$101M ( -- )
6( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$844M
8
-
44
4
Garena
(2009, $722M)
OP Games
(2018, $8.6M)
Outplay Games
(2018, $8.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Metaworld (2020)
$100M - Series C - Mar 2021
OP Games (2018)
$8.6M - Seed - Oct 2021
Outplay Games (2018)
$8.6M - Seed - Oct 2021
PolkaWar (2021)
$1.4M - Seed - Jun 2021
X World Games (2018)
$1.2M - Seed - May 2021
PolkaWar (2021)
$400K - Seed - May 2021

55. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Mobile Gaming Platforms - Southeast
Asia
47
55
Back to index
Mobile Gaming (IGG)
(# Cos: 547 | $883M)
Gaming Platforms (Garena)
(# Cos: 30 | $829M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$100M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$829M
9
-
30
4
Garena
(2009, $722M)
Enjin Storms
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Metaworld (2020)
$100M - Series C - Mar 2021
Jambox Games (2020)
$1.1M - Seed - Apr 2021
Storms (2019)
Undisclosed - Series A - Mar 2021

56. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First NFC Prepaid Cards -
Southeast Asia
48
56
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$100M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$101M
3
-
7
1
Payments (Gojek)
(# Cos: 899 | $19.4B)
Consumer Payments (Grab)
(# Cos: 387 | $17.2B)
Payment Cards (Volopay)
(# Cos: 56 | $292M)
Prepaid Cards (YouTrip)
(# Cos: 50 | $292M)
General Purpose (T2P)
(# Cos: 34 | $108M)
Reloadable (PayMaya)
(# Cos: 34 | $108M)
NFC (BigPay)
(# Cos: 7 | $101M)
BigPay
(2017, $100M)
FlexM
(2014, $866K)
YoloPay
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BigPay (2017)
$100M - Series A - Aug 2021

57. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Trading Platforms -
Southeast Asia
49
57
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$95.6M (▲2631%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
18
-
118
4
Cryptocurrencies (Sygnum)
(# Cos: 1196 | $968M)
Financial Services (Coins.ph)
(# Cos: 844 | $774M)
Investment Industry (PDAX)
(# Cos: 561 | $474M)
Online Trading Platforms (AscendEX)
(# Cos: 177 | $150M)
Regular Trading (Pintu)
(# Cos: 118 | $104M)
Pintu
(2016, $41.0M)
AscendEX
(2018, $50.0M)
Cabital
(2020, $7.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AscendEX (2018)
$50.0M - Series B - Nov 2021
Pintu (2016)
$35.0M - Series A - Aug 2021
Pintu (2016)
$6.0M - Series A - May 2021
Cabital (2020)
$4.0M - Seed - Sep 2021
Lever Network (2021)
$600K - Seed - Apr 2021

58. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplaces -
Southeast Asia
50
58
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$95.5M (▲462%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$137M
10
-
19
4
B2B E-Commerce (Moglix)
(# Cos: 331 | $1.7B)
Food & Beverages (KlikDaily)
(# Cos: 54 | $228M)
Groceries (FreshKet)
(# Cos: 48 | $228M)
Farm Products (TreeDots)
(# Cos: 29 | $192M)
Marketplace (TaniHub)
(# Cos: 19 | $137M)
TaniHub
(2015, $94.0M)
TreeDots
(2017, $15.0M)
Eden Farm
(2017, $20.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TaniHub (2015)
$65.5M - Series B - May 2021
Eden Farm (2017)
$19.0M - Series A - Nov 2021
TreeDots (2017)
$11.0M - Series A - Nov 2021
Eden Farm (2017)
Undisclosed - Seed - Mar 2021
AgriAku (2021)
Undisclosed - Seed - Dec 2021

59. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent funding rounds
Investment Trends
Most Active Investors
Top Funded Business Models
Explore more on Tracxn
All Tech Companies
Southeast Asia Tech Companies
Online Travel Companies
Companies using AI in Healthcare
Companies founded by Stanford GSB Alumni
Soonicorn club in Fintech
Analyst Picks in Southeast Asia Tech
Key News in FinTech
Events in United States
Angel Investors in Southeast Asia
Bluebox
Companies Investment Activity
Miscellaneous
Company Detail Page of Grab
Competitors of Traveloka
Cap Table for TransferWise
Financials for Ola
Employee Count for Revolut
Company Due Diligence Exits
Public Companies
Acquired Companies
Most Active Acquirers
Reports
Delhivery - Company Report
Novel Foods - Business Model Report
HRTech - Feed Report
FinTech - Top Business Models Report
US Tech - Top Business Models Report
US Tech - Monthly Report
59

60. Southeast Asia Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore other Reports on Tracxn
HRTech
InsurTech
Food Tech
Novel Foods
Blockchain Network
P2P Remittance
Business Model Reports
Consumer Digital - SEA
Enterprise Tech - SEA
FinTech - SEA
Feed Geo Reports
Company Reports
Monthly Unicorn Report
Unicorn Reports
Transferwise
Coursera
BigBasket
Feed Reports Top Business Models in PA
FinTech
Enterprise Applications
Artificial Intelligence
Geo Monthly Reports
US Tech
Europe Tech
China Tech
Top Business Models in Geo
India Tech
Israel Tech
UK & Ireland Tech
60

61. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Thank You
61
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Limited including but not limited to the information
contained herein ("Data") is the sole property of Tracxn Technologies Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the Data or any portion
thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any other party, except
with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations or tools for your
customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com