Here’s what you should know today.

1. Carousell wants to help you sell a product in 3 seconds

“Can we, now having five years of experience, data, and learnings, create the next evolution of classifieds? Can we make selling a three-second process – snap a photo and that’s it?” ponders Quek Siu Rui, Carousell’s CEO and co-founder at Tech in Asia Singapore 2017.

Machine vision – the ability for computers to see and recognize objects like humans do – will give Carousell the ability to match a photo uploaded by a user to its database of items. Combine this with its pricing data from tens of millions of transactions, and the app could recommend to users what price to set for a product.

Carousell has grown from its humble beginnings, starting with a 3 persons team, which has since expanded to over a hundred. It has also made a series of acquisitions:

Its purchase of used cars marketplace Caarly is noteworthy because it announced Carousell’s intent of conquering car classifieds. Carousell’s move into cars is simply the result of its users growing up. It observed more users buying and selling cars, baby and kids items, furniture, and home appliances.

Read the rest of the story here.

 

2. Hong Kong’s Qupital raises $2M led by Alibaba to finance invoice loans for SMES

Qupital, a one-year-old Hong Kong-based startup that addresses cash flow issues for SMEs, has closed a $2 million seed funding round.

The startup wants to free small companies on tight budgets from the restraints of unpaid invoices. That’s to say that a large chunk of an SME’s working cash flow is locked up in invoices that may take up to 90 days to actually pay out.

Qupital tackles that issue by getting companies to take a loan to cover 80-95 percent of the value of the invoice

With an estimated 300,000 SMEs located in Hong Kong, there’s an attractive initial market to be tackled. The link with Alibaba will help Qupital reach traders and SMEs — which represent its core focus . While the startup said there’s no precise plan on new locations yet, they hinted that countries with strong export sectors, such as Vietnam, Taiwan or Thailand would be among the obvious choices.

Read the rest of the story here.

 

3. Go-Jek integrates Go-Med into HaloDoc app

Previously a part of the original Go-Jek app, the Go-Med service now complements HaloDoc’s online consultation service, turning it into an end-to-end health platform.

The partnership between the two companies began when Go-Jek took part in HaloDoc’s undisclosed pre-Series A round in April 2016.

The companies said that they have made efforts to simplify the booking and transaction process, which results in its ability to cut down a typical order time from 88 minutes to 40 minutes. HaloDoc has to renew partnership will local pharmacists as part of an effort to ensure the accuracy of their inventory.

For the time being, users also have to stick to cash payments for the service as Go-Jek’s e-wallet feature Go-Pay is not yet integrated into the platform.

Read the rest of the story here.

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