Indonesia Digital Deconstructed by AC Ventures AC Ventures

In this MindShare episode, we explore fintech's impact on economic inclusion in Indonesia, a place where consumers can buy a full meal for the same price they usually pay for a simple interbank transfer. Change is afoot, however, as fintech startups create competition and the government is also doing its part to lower costs with rollouts like BI-FAST and others. 

With us today to discuss are two experts on the bleeding edge. Tessa Wijaya is the co-founder and COO of Xendit. One of Indonesia’s latest unicorns and sometimes referred to as the Stripe of Southeast Asia, Xendit is a fintech company that provides payment solutions for businesses and individuals in the region. Gita Prihanto is the COO at Flip, a fintech company that enables users to make payments, transfer money, pay bills, and purchase goods and services from their mobile devices. 

Hosted by Leighton Cosseboom of AC Ventures, Gita and Tessa dive into a variety of topics, including Xendit's regional expansion plans and strategic investments, as well as how both companies are thinking about Bank Indonesia's newly launched National Open API Payment Standard (SNAP). The pair also discuss why and how more women can join the fold in Southeast Asia's fintech game.

This MindShare episode is all about the next decade of e-commerce in Indonesia, Southeast Asia’s largest and most important retail market.

E-commerce in Indonesia has grown rapidly in recent years, with Lazada, Tokopedia, and Shopee paving the way for new players like Astro. Despite limited internet penetration and low consumer trust a decade ago, the market is now booming with revenue projected to reach US$52 billion in 2023 and US$77 billion by 2027.

Hosted by Leighton Cosseboom, Head of Comms at AC Ventures, we are joined by two experts. Jacopo Mor is now the ex-COO of Lazada Indonesia, one of the largest e-commerce operators in Southeast Asia; and Vincent Tjendra is the co-founder and CEO of Astro, Indonesia’s top quick commerce startup for grocery delivery. With over US$90 million in funding from blue-chip venture capital firms like Tiger Global, Accel, and AC Ventures, Astro has outraised its competitors by around 10x.

As we continue our MindShare series with group discussions on current events in Asia’s tech scene, today's episode is all about the future of crypto in emerging markets like Indonesia.

The possibilities for blockchain in Southeast Asia are many. The region has a rapidly growing population with a high adoption rate of novel fintech. Governments are taking steps to regulate the crypto industry, while businesses are exploring its use for things like payments, remittances, and more. The region also has a large underbanked population, presenting a huge opportunity for financial inclusion via crypto. Despite challenges, including a lack of infrastructure and concerns over security, the future of crypto in Indonesia looks ripe for a boom. That said, it’s hard to have a meaningful conversation without also addressing the broader implications of the FTX implosion.

Hosted by Leighton Cosseboom and Pandu Sjahrir of AC Ventures, with us today are two experts. Jesse Choi is the COO of Reku, a leading Indonesian crypto exchange that gives users a powerful and trusted platform to invest, buy, and sell various crypto assets. Hassan Ahmed is the Head of Southeast Asia at Coinbase, the second-largest crypto exchange in the world.

Today, we continue our MindShare series where we invite guests to have group discussions on current events in Asia’s tech scene.

Stakeholders know that blockchain has the potential to radically change financial systems and, therefore, entire economies. The use of digital assets and smart contracts in DeFi can provide greater financial inclusion for the unbanked population and enable cross-border transactions with lower fees. Crypto trading and mining activities can also drive economic growth and create job opportunities. However, there are also concerns about the potential for illegal activities such as money laundering and fraud. Governments and regulators in Southeast Asia are currently navigating the challenges and opportunities presented by the growth of crypto and DeFi in the region.

Hosted by Leighton Cosseboom, Head of Comms at AC Ventures, we're joined by two experts. Jesse Choi is the COO of Reku, a leading Indonesian crypto exchange that gives users a powerful and trusted platform to invest, buy, and sell various crypto assets. U-Zyn Chua is the co-founder and CTO of Cake DeFi, one of the world's fastest-growing platforms offering access to decentralized financial services. Notably, it offers lending, staking, and liquidity mining for the crypto community.

Continuing our series on impact in Indonesia’s digital economy, AC Ventures' Head of ESG Lauren Blasco is joined by Angelique Timmer, SVP of Impact and ESG at KoinWorks, a full-fledged neobank for MSMEs that started out as a peer-to-peer lending platform for entrepreneurs to access working capital beyond banks and traditional financial institutions.

Today, KoinWorks delivers outsized impact across Indonesia by providing access to financial services and investment opportunities to underserved communities nationwide. This includes small business owners and micro-entrepreneurs that may not have a way to secure working capital. By offering access to loans and investment opportunities, KoinWorks empowers communities to grow and succeed financially.

AC Ventures recently established Indonesia's first quantifiable ESG standards with its debut report, “Scaling Impact With Technology,” produced in partnership with Boston Consulting Group and supported by The Upright Project. KoinWorks was one of the companies highlighted in the report. It delivered a net impact ratio of +63%, a phenomenal score compared to the Nasdaq Small Cap Index (NQUSS) average ratio of +29%.

In our new ongoing series "MindShare," AC Ventures curates expert guests to discuss current events and timely topics in the Southeast Asian tech ecosystem. Via insightful group discussion, we then interpret what it all means for startups, investors, and stakeholders in the region.

Hosted by Leighton Cosseboom, Head of PR & Communication at ACV, today's topic is all about good governance in startups. It’s no secret that corporate governance in early-stage ventures has never been particularly stringent, especially in more nascent tech markets like Indonesia. But now, following a few high-profile scandals last year and with fewer clear avenues to liquidity for investors in tech, governance for startups has become a fiery topic once again. 

With us today is Pandu Sjahrir, Founding Partner at ACV, and Joel Shen, a prominent corporate lawyer in Jakarta and Singapore who heads Withersworldwide's technology practice in Asia.  

As an independent commissioner at the Indonesia Stock Exchange and an investor sitting on the boards of many tech companies, Pandu is well-placed to unpack this issue. Meanwhile, as a lawyer who specializes in venture day in and day out, Joel has seen firsthand what can happen when best practices are not followed.