Open For Business

Manoj Menon from Twimbit will be discussing the transformative power of open finance in Malaysia. We’ll discuss the necessity of a secure, standardised framework to foster innovation and ensure customer privacy. We’ll also take a look at how enhancing Malaysia's digital footprint through open banking caters to the modern customers' demand for seamless, personalised financial solutions. See omnystudio.com/listener for privacy information.

What do Snoop Dogg, venture capital, and sneakers have in common? The answer – Asia's fastest-growing sneaker trading platform Novelship.Last month, the Singapore-based online streetwear marketplace announced a US$9.5 million series B funding round, which comes a few months after Novelship’s partnership with American hip hop legend Snoop Dogg.Novelship first started out as a Carousell shop before becoming an online marketplace for buyers and sellers to trade authentic sneakers, limited-edition apparels, as well as exclusive physical and digital collectibles. Today the company is moving beyond just being a marketplace and building its own fashion and streetwear brand.Having raised a total of $21.6 million, on this episode of Open for Business, you will hear about Novelship’s move from Carousell store to Asia's fastest-growing sneaker trading platform, the value Snoop Dogg provides to their ambitions, and whether they have what it takes to become a leading fashion icon in Asia, with Richard Xia, Co-Founder and CEO of NovelshipSee omnystudio.com/listener for privacy information.

Ever wish that you could invest in unlisted tech companies such as Open AI, Stripe, and SpaceX before they hit public markets and peak valuations? Well for some, Singapore-based marketplace for alternative assets Alta could be the answer. Founded in 2016, the startup formerly known as Fundnel it’s trying to improve accessibility to an area of finance previously the domain of ultra-high-net worth individuals and institutional investors - private capital markets. Alta has facilitated over $600 million dollars in over 1,500 transactions, including investments into SpaceX, Grab, and Gojek.On this episode of Open for Business, you will hear about what inspired this venture, the experience of building this sizable alternative asset exchange, and the business opportunity that lies here with Kelvin Lee, Co-Founder and CEO of Alta.See omnystudio.com/listener for privacy information.

Globally, mental health concerns are becoming increasingly prevalent. Recent data from the United Nations has highlighted that nearly a billion individuals are grappling with some form of mental health condition. Even more concerning is that the World Health Organization (WHO) notes that that approximately 20% of the world’s children and adolescents are dealing with mental health issues, with suicide a leading cause of death among those aged between 15 to 29. SAPOT is a digital self-care and social support platform that hopes to help address this pressing concern, particularly among young adults by connecting them to all measures of care, whether it’s prevention, treatment or maintenance.On this episode of Open for Business, you will hear the story of why the 4 co-founders came together to build SAPOT, the process and challenge of building a mental health solution, and the business model that will turn this from an idea into a viable business with the co-founders of SAPOT - CEO Najiya Ilya and COO Nureen Hamka.See omnystudio.com/listener for privacy information.

Direct Lending started in 2016 as a digital lending marketplace platform, enabling borrowers to find, apply and receive financing that best suits them safely and affordably. There are currently over 30 financing providers on its platform, from co-operatives, Bursa Malaysia-listed companies, licensed moneylenders, and credit communities.In more recent times, Direct Lending launched its first point-of-sales financing solution in late March 2022, a Syariah-compliant, fully digital auto service financing that enables car owners to obtain financing at a workshop to pay for their essential car repairs instantly. In December 2022, Direct Lending further expanded the business by offering financing to micro SME businesses.We speak to Founder and Director Hui Yik Seong about building and growing a digital lending marketplace platform, the rationale for launching its own financing solutions, and more.See omnystudio.com/listener for privacy information.

We speak with Julian Koh, co-founder of Commune Lifestyle, to discuss the intersection of design, craftsmanship, and sustainability. Julian, having grown up around furniture factories and furthered his education in industrial design, holds a deep understanding of the design industry. He’ll be sharing his philosophy and approach to creating sustainable and uniquely designed pieces, revealing how his varied inspirations translate into the finished products. Commune Lifestyle, with its extensive reach across Asia, stands out for its commitment to sustainability and aesthetic versatility. We’ll explore the practicalities of sustainable design and understand the thought process behind creating designs that are both innovative and environmentally conscious, highlighting the role of authentic craftsmanship in the modern design landscape.See omnystudio.com/listener for privacy information.

Versa is a fintech startup focused on digital distribution and curation of investment products that works with AHAM Capital. The aim - to provide its users with access to savings and investment products in a simplified and digital-first manner. That said, the wealthtech space is a tough area with slim margins and plenty of competition from robo advisors such as Stashaway, Wahed Invests, and KDI Invests. We speak to Teoh Wei-Xiang, CEO of Versa Asia, for the story behind starting Versa, how they are navigating the competitive landscape and acquiring customers, and what else we can expect to see on the platform in time.See omnystudio.com/listener for privacy information.

In August this year, Malaysiakini launched Sokong, a digital platform to help nonprofits and non-governmental organisations raise funds as well as channel donations to those in need. The platform, developed with a grant from the Google News Initiative, is to connect the social welfare sector with the public to raise funds, to bridge the gap between passionate individuals and impactful causes. That said, the question that comes to mind is why Malaysiakini, an online news portal, has built Sokong and what it says about their ambitions.We speak with Premesh Chandran, Co-founder of Malaysiakini, and Eshwaren Manoharan, the project manager of Sokong, on how the digital platform is “Empowering Giving (and) Elevating Impact”, what Malaysiakini hopes to achieve with Sokong, and what this says about company’s future ambitions beyond media.See omnystudio.com/listener for privacy information.

In line with World Mental Health Awareness Week, we look into the realm of self-healing through art with MyWIPHealing. They are a budding social enterprise dedicated to mental health education and personal growth by fostering a community around Art Therapy. See omnystudio.com/listener for privacy information.

Financing makes the business world go round, but unfortunately access to financing has been as wide as we might like for a variety of reasons, including the ways banks use data to assess the risks associated with a borrower . In response to this, a variety of fintech firms have come about to address this, and one of them is Malaysian home grown supply chain finance and peer-to-peer financing (P2P) platform CapBay.CapBay has been making headlines this year. Earlier this year, they surpassed the milestone of disbursing over RM1 billion to more than 400 underserved SMEs in Malaysia and were also named among the world’s top 200 fintech businesses by CNBC and research firm Statista. Other than that, the founders were also chosen by global entrepreneur network Endeavor in its latest selection round, highlighting the potential of these Malaysian entrepreneurs and their venture.We speak to CapBay co-founders Ang Xing Xian and Darrel Ang about the early days of building this P2P financing platform, what started them down this path, and the vision ahead for this Malaysian startup.See omnystudio.com/listener for privacy information.