SE Asia Digest: 500 Startups backs Bizzi.vn; NEXEA Angels, MDEC launch programme

The 500 Startups logo is displayed at the company's Capital Towers office in Singapore. Photo: Ipsita Ray/DEALSTREETASIA

Vietnamese tech startup Bizzi.vn has raised an undisclosed amount from 500 Startups and some angel investors while Malaysia-based accelerator and VC firm NEXEA Angels has collaborated with the Malaysia Digital Economy Corporation to launch the Entrepreneurs Programme. 

Vietnam’s Bizzi.vn raises funding from 500 Startups

Bizzi.vn, a Vietnam-based accounting automation tool, has raised an undisclosed amount from 500 Startups along with other angel investors, according to a statement. 

Founded by Nghia Vu and Nguyen Nguyen, Bizzi.vn aims to digitize the financial operations of small and medium enterprises. The company claims that its tool can cut time and costs spent on daily financial processes by as much as 80%.

“In a very short period of time, the Bizzi team has built an international product and global customer base with superior technology compared to legacy fintechs — we’re excited about what’s to come from this company,” said Eddie Thai, General Partner of 500 Startups Vietnam. 

In Southeast Asia, 500 Startups manages two Durian funds totaling $49 million to back regional startups, as well as country-focused funds for Thailand and Vietnam. The Vietnam fund was oversubscribed and closed at $14 million, while 500 TukTuks is seeking to raise $20 million for its second vehicle, following a $15-million first fund.

Malaysia’s NEXEA Angels and MDEC launch Entrepreneurs Programme

Malaysia-based accelerator and VC firm NEXEA Angels has collaborated with the Malaysia Digital Economy Corporation (MDEC) to launch the Entrepreneurs Programme – an exclusive private forum for CEOs of local startup companies to learn and grow together, according to an announcement.

The new programme offers peer-to-peer learning to help startup CEOs to find a solution to their business challenges. Besides, it also provides experienced mentors as well as an exclusive monthly full-day meeting.

Nearly 20 CEOs from local startups are currently enrolled in the programme that started this month. MDEC is part of this initiative as the sponsor of the programme.

“The concept of peer-to-peer CEO groups that we’ve introduced in our Entrepreneurs Programme is beneficial to the participants. We are gathering CEOs in an exclusive forum so they can directly gain the perspectives of their peers who may already have experience in solving similar issues. This is important because making an executive decision can be tough for new entrepreneurs, especially when faced by unprecedented situations such as the Covid-19 pandemic,” said Ben Lim, Managing Partner of NEXEA.

NEXEA is a startup investment company that supports technology firms with the potential to scale up. To date, it claims to have invested in more than 35 companies, including Red Dino Ventures, Smartly, YogaTrail, EzySpark and Lapasar.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.