Southeast Asia

In a country where more than 48% of the population now owns a mobile phone, five Cambodia startups have emerged to leverage the fast growing digital economy.

Winners will receive up to USD 2.5 million in funding and a chance to attend an entrepreneurship program by Alibaba Business School.

With high mobile phone and internet penetration, the e-commerce sector is set to grow with the entry of international players like Alibaba-backed Daraz Group.

PasarPolis has seen significant growth in the last two years, with the number of monthly policies increasing more than 80-fold.

The 22 affected employees represent 11% of GoBear’s total workforce.

The news came shortly after NextPay Holdings announced plans to raise around USD 60 to 100 million in the first quarter next year and go public in 2022. 

Southeast Asia Freedom of Expression Network, or Safenet, recorded at least 29 violations in Indonesia this year, often targeting journalists and activists.

The company’s performance has been driven by marketing initiatives during the circuit-breaker period.