A tech investor claimed that there has been no better time than today to invest in the tech industry in Southeast Asia. Monk's Hill Ventures CEO claimed that his company has been looking for entrepreneurs who have been investing in Southeast Asian tech companies such as Ninja Van and other logistics companies. He claimed that these investments have been generating profits recently and that the industry would experience a boom by 2025.
According to Business Times, co-founder and managing partner of venture capital firm Monk's Hill Ventures Ong Pong Tsin suggested that the tech industry in Southeast Asia is bound to generate profits in the coming years and that investors should take advantage of the booming market. He claimed that the region's tech companies have generated about $5.99 billion USD in the first half of 2019. He also claimed that early-stage investments would rise sharply by the end of 2019.
The tech investor explained that one of the booming companies operating in the Southeast Asian tech industry that experiences healthy profits is Tokopedia. He claimed that the company is the first Indonesian unicorn that unified buyers and sellers with the use of an online marketplace platform. He also claimed that the company had to develop a system of online payments since more than half of the Indonesian population did not have access to online banking.
Thus, Ong explained that this was the reason why Tokopedia is now the most visited e-commerce platform in Indonesia today. He highlighted that Tokopedia partnered with mobile wallet developer Ovo to administer the bridging of online markets and services to be made available to Indonesian purchasers reported e27. In return, Ong claimed that this transformed the company into having the most sought after services for developing a first-of-its-kind industry in the country.
He also hinted that it took Tokopedia about two years to raise the initial capital needed to run the business. he also claimed that since Southeast Asia's tech industry is developing nowadays, investments from Silicone Valley, Shenzhen, and Tokyo are coming in. He also revealed that five of the 11 tech companies who invested in the industry have attained the tech unicorn status in just two years.
Ong also highlighted the need for technification, a term he used in the use of technological advancements to improve business services, as a good investment in the logistics side of the tech industry. He claimed that it should not only cover the business operations but also the use of such in improving finance, education, healthcare, retail, and changing the way business is done in Southeast Asia.
