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Start-Up Champions Southeast Asia

Emerging Market Experts ranks the ten Southeast Asian start-ups that raised the most money in 2019. Please click on the articles to read more about their background. On this page we will also track their performance in 2020.

Tjeerd S. Ritmeester

10. Trax

Trax LogoSingapore

Country: Singapore
Trade: System development for retail sector
Amount Raised: 100 million USD (-20%)
Valuation: 1.4 billion USD
Employees: 522

- An exciting start of the year for Trax. The retail tech unicorn acquired Paris-based Qopius, an AI startup. The French company provides in-store tech solutions in Europe. Trax can push real-time store monitoring and autonomous inventory management into mainstream adoption by this acquisition.
- Trax bought US-headquartered which retail analytics and recommended growth strategies by its data-driven market research. Trax wants to create a "closed-loop merchandising system for physical retail". They focus on emerging and mid-market consumer packaged goods brands.

9. Near


Country: Singapore
Trade: Data analytics
Amount Raised: 100 million USD


8. MoMo

MoMo Vietnam Logo 1Vietnam Flag 1

Country: Vietnam
Trade: Mobile payments
Amount Raised: 120 million USD


7. Ruangguru

Ruangguru 1Indonesia 1

Country: Indonesia
Trade: Online education
Amount Raised: 150 million USD


6. KinerjaPay

KPayIndonesia 1

Country: Indonesia
Trade: Mobile payments
Amount Raised: 200 million USD


5. Zilingo

Zilingo 1Singapore

Country: Singapore
Trade: E-commerce fashion
Amount Raised: 230 million USD


4. VNPay

VNPay ResizeVietnam Flag 1

Country: Vietnam
Trade: Mobile payments
Amount Raised: 300 million USD


3. Traveloka

TravelokaIndonesia 1

Country: Indonesia
Trade: Online travel booking
Amount Raised: 420 million USD


2. Gojek

GojekIndonesia 1

Country: Indonesia
Trade: Ride-hailing service
Amount Raised: 1600 million USD (-6.25%)
Valuation: 9bln USD
Employees: 3000+

Please read about Gojek in our success story series by clicking here


1. Grab


Country: Singapore
Trade: Ride-hailing service
Amount Raised: 2100 million USD


Data source: Nikkei Asian Review



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