MFast's agent-led approach fuels growth

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} I grew up in the age of dial-up internet, living more than 30 kilometers away from the Philippine capital. To that kid, having an encyclopedia set felt like a big deal. The set we had consisted of more than 10 books: Each volume was thicker than the Bible and looked like it came from a century-old library. My mom wanted her daughters to have good grades in school, so she thought an encyclopedia was a good purchase. But the question of whether it was indeed helpful for our studies is another story. My mother’s decision to buy the set was also influenced by a neighbor who worked as a sales agent for an encyclopedia publishing company. Looking back to it now, I can say that such agents were - and still are - effective marketers even in the age of social commerce. Vietnam's MFast, a financial marketplace that relies on agents to sell its products, is proof of that. The company says it is ending the year with at least US$11 million in revenue and hopes to turn profitable by 2025. It's now raising for its series B to replicate its business model in the Philippines. -- [Elyssa Lopez]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Vietnam’s MFast targets Philippines’ unbanked with $15m raise]( The fintech firm aims to bring its agent network to the Philippines, where 66% of adults are unbanked. 2. [Behind MoneyHero’s aggressive plan to beat – then buy – key rival]( Numerous senior leaders, including those who led the firm to list last year, have departed since the start of 2024. 3. [From Reebonz to AI avatars: SG startup eyes $100bn opportunity]( LCE, which bought luxury marketplace Reebonz’s assets in 2022, is offering genAI avatars for live selling and short videos. 4. [Malaysia’s faulty semiconductor industry calls for a repair]( Policies need reworking if the country were to move up the value chain, say industry chiefs. 5. [Deliveroo gets out of cloud kitchen business in Singapore]( Restaurants in its network are also pausing their expansion plans due to economic pressures, a Deliveroo spokesperson said. 6. [Finding internal data is tough. Here’s how LLMs make it easier]( LLMs can simplify the process of finding internal data, which plays a crucial role in organizations’ decision-making. 7. [Embattled flash drive inventor returns to Malaysia with new bet]( Pua Khein Seng returns home to spur on the local chip industry, but headwinds remain. 8. [What ails agritech, and how can it come back?]( A wave of layoffs has swept through the industry in India and Indonesia as flaws in agritech models become more apparent. 9. [The who’s who of SEA’s insurtech sector (Updated)]( Despite the economic slowdown, Southeast Asia's insurtech secured US$530.7 million in 2023, a five-year high. 10. [Hot or not: What SEA investors are betting on and what they’re ignoring]( VC funding can be a leading indicator of where in the tech industry we’re going to see more spending and jobs. ---------------------------------------------------------------  10 YEARS OF TECH IN ASIA CONFERENCE JAKARTA  It’s more than just a conference - it's a community where connections become collaborations, and moments turn into milestones For the past decade, Tech in Asia Conference Jakarta has been more than just an event - it’s a community where connections turn into collaborations, and moments become milestones. As one attendee put it: “Opportunities delivered - this is my takeaway from an incredible week at Tech in Asia Conference in Jakarta, where I met truly inspiring entrepreneurs and ecosystem pillars.” As we celebrate 10 years of TIA Conference Jakarta, we’d love for you to be part of the next chapter. Enjoy 10% off your ticket by using the code fromtechinasia to [join us this year]( and keep the stories going. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. [Tech in Asia Conference Jakarta | October 23 - 24]( Over 4,000 founders, investors, and leaders from companies like eFishery, Qapita, Baidu, Brankas, and AWS have already secured their passes for the Tech in Asia Conference Jakarta. Don't miss out! Our presale passes are selling out fast. [Grab yours now]( and enjoy a 30% discount before prices increase on October 2 or we sell out completely. Secure your spot today and join the thousands of innovators shaping the future of Southeast Asia's tech landscape.  [SYNC 2024 on October 08]( Calling all founders, CEOs, investors, and corporate leaders, join us for a unique opportunity to hear Razer CEO Min-Liang Tan share his vision for the future of gaming. At SYNC 2024, he will be joined by Andrea Phua, senior director of National AI Group, for a captivating main stage session where they will delve into Razer’s cutting-edge AI initiatives that are transforming the gaming landscape. Learn more about SYNC and [apply for a ticket.]( [Elevate Your Investment Strategy at TIA Conference Jakarta | October 23 - 24]( As an investor, you know how crucial it is for you to stay ahead of the curve in the tech industry. TIA Conference Jakarta offers you a unique opportunity to connect with the most promising startups in Southeast Asia. With the Investor Pass, you'll get full access to a startup database where you can discover hidden gems with the potential for significant returns. You will also enjoy exclusive [Investor Hour]( matchmaking events with founders, five-star catered meals, and on-demand sessions. But hurry, only 50 Investor Passes remain. [Grab yours now]( before it’s too late! --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. 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