6 hours ago
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Dear subscribers,
We’re back with a fresh roundup of key developments shaping Indonesia’s and Southeast Asia’s startup landscape. This week, we spotlight Danantara’s potential involvement in the Grab-GoTo merger, OSL Group’s crypto sector expansion, to Truely securing new funding—this edition covers the vital stories you need to know.
Let’s dive in.
Best regards,
The DailySocial Team
Danantara is reportedly exploring a minority stake in Grab’s proposed US$7 billion acquisition of GoTo Group. The involvement aims to mitigate regulatory concerns about foreign acquisition of a major local tech entity. The deal currently faces significant antitrust scrutiny in Indonesia and harvest critics from citizens online, but Danantara’s participation could enhance the chances of regulatory approval. Grab, GoTo, and Danantara have not officially commented yet. [Read More]
Danantara townhall event attended by Indonesian President, Prabowo Subianto / Doc. Seskab
Digital asset service provider OSL Group announced a US$15 million acquisition of 90% shares in Evergreen Crest, the parent company of futures brokerage company PT Langit Indonesia Berjangka (licensed by BAPPEBTI since 2022) and crypto trading companyPT Multikripto Exchange Indonesia (recently licensed by OJK in March 2025). This marks OSL’s strategic entry into the promising Indonesian market, reinforcing its presence in Southeast Asia. [Read More]
Bali-based startup Truely, known for its global connectivity solution Switchless™ eSIM, has raised an additional US$2 million led by DG Daiwa Ventures, Goodwater Capital, and Disrupt.com, alongside continued support from Beenext. Total funds raised by Truely now reach US$5.5 million, following a US$3.5 million round last October. [Read More]
Singaporean startups secure significant late-stage funding: Insurtech firm Bolttech raised US$147 million in Series C funding, reaching a US$2.1 billion valuation. Wealth platform Syfe also closed an US$80 million Series C round. Recent notable funding rounds in the region include VFlowTech ($20.5m), Gnosis ($15m), Nuevocor ($45m), Thunes ($150m), and Surfin ($26.5m).
YouTube’s creator ecosystem surges in Southeast Asia: Over 7,600 channels now exceed 1 million subscribers, with uploads from Vietnam and Indonesia up 85% year-on-year. Video commerce now comprises 20% of ecommerce GMV, particularly driven by YouTube Shopping initiatives in Thailand, Indonesia, and Vietnam.
YouTube creator shows growth in Southeast Asia / Doc. Unsplash
Stablecoins gain prominence amid regulatory shifts: Deutsche Bank is exploring stablecoin issuance to enhance payment efficiency. In the US, pending legislation may require stablecoin issuers like Tether to hold more government debt, strengthening crypto’s integration with traditional finance. Hong Kong is mandating licenses for stablecoin issuers starting August 1, cementing its ambition as a regulated crypto hub.
Southeast Asia’s mobile gaming market saw impressive growth, with 1.93 billion downloads in Q1 2025—up 3% from the previous quarter, according to Sensor Tower. Indonesia leads with 870 million downloads, followed by the Philippines and Vietnam.
Thailand topped revenue with US$162 million in in-app purchases, driven by robust digital payments infrastructure. Strategy, Shooter, and RPG genres dominated, sustaining player engagement and spending.
Local game publishers are gaining global traction, with Southeast Asian-developed games reaching 5.8 billion global downloads in 2024. Publishers like Garena and IKame from Vietnam and Singapore achieved notable success with hyper-localized campaigns, including Ramadan-themed promotions in Indonesia.
Continued growth is anticipated, offering vast opportunities for developers who adopt a mobile-first strategy, emphasize localization, and create personalized, interactive gaming experiences.
