Inside Asia’s Biggest Protection Gap Opportunity

Founder Playbook 2025: The Most Useful Insights From Our Podcast (Year-End Recap)

We hit publish in October this year with a simple goal: have honest, operator-level conversations with founders building real businesses across Asia. Today’s episode is a rewind of the moments that stayed with us: building through pivots, the realities of raising money, hard decisions, and what it takes to scale across markets and time zones. Expect standout takeaways on AI learning and product validation, global payments and stablecoin rails, business lending, automotive marketplaces, and closing protection gaps through embedded insurance. 💡 What You’ll Hear About * AI education before the hype, and what “AI” actually meant when most people were not paying attention * Personalized learning at scale, including why tailoring to each student matters when resources are tight * Building through constraints and pivots, from adoption friction to making tough resets when the model has to change * AI in eye health and clinical trust, and what it takes to win over conservative medical stakeholders where safety is non-negotiable * Fintech execution in Southeast Asia, and why business lending is an on-the-ground operating problem, not just a product thesis * Scaling a car platform beyond classifieds, including how financing and insurance become real growth levers * Payments infrastructure and stablecoin rails, built for real-world merchants without the “crypto experience,” plus operational realities * Lessons learnt: leadership under pressure, including the hardest calls founders make, the emotional cost, and how teams rebuild and grow ⏱️ In this Episode 0:00 [https://www.youtube.com/watch?v=ko_LsPUs17E] – Introduction0:36 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=36s] – Joleen Liang - “AI” before it was a buzzword: adaptive learning and scalable education 2:07 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=127s] – Kevin Choi - Eye health + AI: earning clinician trust when safety comes first 2:54 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=174s] – Kelvin Teo - Harvard-to-Southeast Asia: why fintech opportunity is real, but execution is everything 7:02 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=422s] – Aaron Tan - Building in an “unsexy” category: why cars can still be a massive business 10:48 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=648s] – David Isaac - From idea to real business: validation, A/B testing, and scenario thinking 14:48 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=888s] – Rob Schimek - The future of insurance: protection gaps, distribution, and what actually scales18:07 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1087s] – Joleen Liang - Going global in edtech: the US market, localization, and teacher capacity constraints 21:44 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1304s] – Eric Barbier - Stablecoins without the crypto experience: global merchants, time zones, and real use cases 26:17 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1577s] – Aaron Tan - Scaling into new countries: team first, local realities, and avoiding expensive mistakes 28:39 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1719s] – Kevin Choi - Fundraising reality check: “money is cold” and what that teaches founders 30:07 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1807s] – Eric Barbier - How VCs think: incentives, expectations, and the founder–investor mismatch 31:12 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1872s] – Kelvin Teo - Timing and conviction: raising when it matters, and what investors look for 32:32 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=1952s] – Rob Schimek - Proving you are worth backing: partners, differentiation, and defensibility 36:47 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=2207s] – Neo Zhizhong - The hardest leadership decision: letting people go and living with it 37:56 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=2276s] – Kevin Choi - Hiring and HR mistakes: what Kevin regrets and what he learned 39:34 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=2374s] – Aaron Tan - Expansion lessons: what did not go to plan and how to recover fast (Aaron)41:36 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=2496s] – Joleen Liang - “Rising from the ashes”: regulatory shock, revenue collapse, and the pivot 48:00 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=2880s] – Eric Barbier - Leadership style: autonomy vs micromanagement, and what teams need 49:25 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=2965s] – Aaron Tan - Talent and culture: why people should come and go, and what that signals 52:38 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=3158s] – Joleen Liang - Female leadership: strength, softness, and how influence actually works 53:43 [https://www.youtube.com/watch?v=ko_LsPUs17E&t=3223s] – Managing Work-Life Balance 📚 References (Mentioned in the Episode) People * Miro Lu — https://www.linkedin.com/in/mirolu [https://www.linkedin.com/in/mirolu] * Aaron Tan — https://www.linkedin.com/in/aarontan/ [https://www.linkedin.com/in/aarontan/] * David Isaac Mathews — https://www.linkedin.com/in/davidisaacm/?originalSubdomain=sg [https://www.linkedin.com/in/davidisaacm/?originalSubdomain=sg] * Neo Zhizhong (Neo) — https://www.linkedin.com/in/zzneo/ [https://www.linkedin.com/in/zzneo/] * Dr Joleen Liang — https://www.linkedin.com/in/joleen-liang-70b11ba4/ [https://www.linkedin.com/in/joleen-liang-70b11ba4/] * Derek Haoyang Li — https://www.linkedin.com/in/derek-haoyang-li-076432173/ [https://www.linkedin.com/in/derek-haoyang-li-076432173/] * Kevin Choi — https://www.linkedin.com/in/kevinchoi-mediwhale/ [https://www.linkedin.com/in/kevinchoi-mediwhale/] * Kelvin Teo — Co-Founder & Group CEO, Funding Societies | Modalku — https://www.linkedin.com/in/tkelvin/ [https://www.linkedin.com/in/tkelvin/] * Reynold Wijaya — Co-Founder, Funding Societies | Modalku — https://www.linkedin.com/in/reynoldwijaya/ [https://www.linkedin.com/in/reynoldwijaya/] * Eric Barbier — CEO, Triple-A.io — https://www.linkedin.com/in/ericbarbier/ [https://www.linkedin.com/in/ericbarbier/] * Rob Schimek — https://www.linkedin.com/in/rob-schimek-59b37a1/ [https://www.linkedin.com/in/rob-schimek-59b37a1/] * Peter Thiel — https://thielfoundation.org [https://thielfoundation.org] Companies and Organizations * Carro — https://carro.co/sg/en [https://carro.co/sg/en] * AIPath.one — https://www.aipath.one/ [https://www.aipath.one/] * Geniebook — https://www.geniebook.com [https://www.geniebook.com] * Squirrel Ai Learning — https://squirrelai.com/about/ [https://squirrelai.com/about/] * Mediwhale - https://mediwhale.com/ [https://mediwhale.com/] * Funding Societies | Modalku — https://fundingsocieties.com [https://fundingsocieties.com] * Triple-A.io — https://triple-a.io [https://triple-a.io] * bolttech — https://www.bolttech.io [https://www.bolttech.io] * Trip.com — https://www.trip.com [https://www.trip.com] * Lego — https://www.lego.com [https://www.lego.com] * Harvard Business School — https://www.hbs.edu [https://www.hbs.edu] * Cambridge International Curriculum —https://www.cambridgeinternational.org/ [https://www.cambridgeinternational.org/] * IB Programme (International Baccalaureate) — https://www.ibo.org/ [https://www.ibo.org/] * Singapore Ministry of Education: PSLE (Singapore National Exam) https://www.moe.gov.sg/microsites/psl [https://www.moe.gov.sg/microsites/psl]... * Singapore Ministry of Education: Education in Singapore —https://www.moe.gov.sg/education-in-sg [https://www.moe.gov.sg/education-in-sg] * Vietnam Ministry of Education & Training — https://en.moet.gov.vn/ [https://en.moet.gov.vn/] * Swiss Re Institute (Protection Gap research) —https://www.swissre.com/institute [https://www.swissre.com/institute] * McKinsey (Embedded Insurance) https://www.mckinsey.com/industries/financial-services/our-insights/ [https://www.mckinsey.com/industries/financial-services/our-insights/] * EY (Insurtech Landscape) — https://www.ey.com/ [https://www.ey.com/] * IAIS (Global Insurance Regulation) — https://www.iaisweb.org [https://www.iaisweb.org] * Ironman Triathlon — https://www.ironman.com [https://www.ironman.com] * Sequoia Capital / Peak XV Partners — https://www.peakxv.com [https://www.peakxv.com] Concepts and Topics * GPT / ChatGPT — https://openai.com/chatgpt [https://openai.com/chatgpt] * DeepSeek - https://www.deepseek.com/ [https://www.deepseek.com/] * China tutoring ban - https://www.scmp.com/news/people-culture/social-welfare/article/3150726/chinese-parents-turn-black-market-after-school [https://www.scmp.com/news/people-culture/social-welfare/article/3150726/chinese-parents-turn-black-market-after-school] * PSLE (Singapore national exam) - https://www.moe.gov.sg/microsites/psle-fsbb/psle/main.html [https://www.moe.gov.sg/microsites/psle-fsbb/psle/main.html] * Singapore education system - https://www.moe.gov.sg/education-in-sg [https://www.moe.gov.sg/education-in-sg] * The Lancet Digital Health – https://www.thelancet.com/digital-health [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbjE5WkVvWERrdjBTMHUwZVhYa2k3Nlk5Wk14Z3xBQ3Jtc0tubmx6bVlMOGJ4ZEV1OENNMnF0UTAtUVRXX2pDV2FFZUswWGZ4dXBjTjUzZlQwY0tkMHZLRmloS0dBU2w5N3puVElpcTI0RXduZU1RUlNlM09WSGNrbG1zempaLW1MeF9sUVZSVEV1cWtSTmkwSTlvdw&q=https%3A%2F%2Fwww.thelancet.com%2Fdigital-health&v=65Pp81XOlm4] * Glaucoma — Mayo Clinic Overview: https://www.mayoclinic.org/diseases-c... [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbW44bVRXb1BnWGRSaXBkdzluaGtNcjNzV25pQXxBQ3Jtc0trVm5HYjJScUxpY3gtOGo5MDN2ZURGY0UyREMyUUpkZ0Q3ZUZJV2VEcndnNmcxWTdUY3Y3aHRsSDJQMmNwWDBVRTUyV2VXT2JubFRKMmFhUWtRdTlNY3NTOTZ3aDJLeVpHOWozVmdRQTVTcjY1QUliRQ&q=https%3A%2F%2Fwww.mayoclinic.org%2Fdiseases-conditions%2Fglaucoma%2Fsymptoms-causes%2Fsyc-20372839&v=65Pp81XOlm4] * Retinal Imaging (Fundus Photography) —https://my.clevelandclinic.org/health... [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbl9CRlc5WlkzdWNaU2V1bFBHWmpPaHA1SDQ0d3xBQ3Jtc0trN1h6a0RYdE0wOXMxSXNsejF2ZHo4TVU4THJUWFB5MnhwMUpvOWk3TEMtUG9LQnNLWXJjb1hvemx2M19yNVdnYUpWdEZ1cU9FSnVpMHpqcDR5SmVhell2X3ppbWdGY0h3NVoxUFQ3ZF9fb19jY1ROMA&q=https%3A%2F%2Fmy.clevelandclinic.org%2Fhealth%2Fdiagnostics%2F25046-retinal-imaging&v=65Pp81XOlm4] * Cardiovascular Disease (CVD) — WHO Fact Sheet: https://www.who.int/news-room/fact-sh... [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbENrRXg5VTBWRXZtbTNrZjdxb0NGYWlZM1FyZ3xBQ3Jtc0tremNOTTgxaW1oeGxpel9sWnRVSUxKT05BcTNBWlI3ajJHclRLNks2ZUFaVTBZXzZYVkZMSE5XRklPZ09yYVNHclpmTzlYRmlrSm9oMmplWFd2dUNpTG1XZHdubFhMaXE1UTliOTdsZVZvM2JyY2xWUQ&q=https%3A%2F%2Fwww.who.int%2Fnews-room%2Ffact-sheets%2Fdetail%2Fcardiovascular-diseases-%28cvds%29%2F&v=65Pp81XOlm4] 🎙️ About Asia Tech Lens Produced by Perspective Media (Singapore), Asia Tech Lens explores the technology, trends, and people shaping Asia’s innovation landscape — and its global impact. For enquiries about: * Sponsorships & partnerships: partnerships@asiatechlens.com [partnerships@asiatechlens.com] * Media & permissions: editor@asiatechlens.com [editor@asiatechlens.com] This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.asiatechlens.com [https://www.asiatechlens.com?utm_medium=podcast&utm_campaign=CTA_1]

Inside Asia’s Biggest Protection Gap Opportunity

In this episode, we sit down with Rob Schimek, Group CEO of bolttech, to unpack one of Asia’s most ambitious insurtech scale-up stories—and why the world’s protection gap is now a multi-trillion-dollar opportunity hiding in plain sight. Rob has spent decades at the intersection of finance, risk, and technology. From leading a major global insurer to building one of the fastest-growing embedded-insurance platforms on the planet, his journey shows how insurance is becoming an essential digital-economy layer—as fundamental as payments, identity, or logistics. We dig into the big structural questions:Why is insurance still so underpenetrated across Asia?How do you build trust with regulators, distribution partners, and millions of customers?And what does it take to create a digital insurance exchange across markets with wildly different rules, expectations, and levels of financial maturity? Hosted by Miro Lu, this conversation goes deep into leadership, ecosystem design, and the future of embedded protection worldwide. 💡 What You’ll Learn * The global protection gap—and why it’s still widening * Why Asia is the most interesting insurance market today * How embedded insurance is reshaping distribution and product design * Building a cross-market exchange: data, partners, regulation * Why incumbents struggle with speed, experimentation, and UX * Underwriting in a digital context—and why trust is a product * How bolttech scales across Asia, the US, and Europe * Customer expectations in 2025: real-time, contextual, frictionless * Leadership lessons from transforming legacy insurers * Attracting talent to an industry many overlook * The future: from selling policies to enabling ecosystems ⏱️ Chapters 00:00 – Opening & Rob’s early lens on risk and leadership01:02 – The global protection gap: a multi-trillion-dollar problem02:15 – Founding bolttech at 5304:20 – Why embedded insurance matters now06:55 – Understanding the customer journey in insurance08:50 – How bolttech achieved 0→1 // What bolttech actually solves10:40 – Translating vision into real product11:25 – Why Asia?13:45 – How regulations shape innovation across markets15:02 – The 2018–2020 incubation story17:10 – Early experiments (what worked, what didn’t)18:43 – Building a global team22:05 – Culture, discipline & high-performance execution24:30 – How bolttech partners with ecosystems27:40 – Scaling across Asia, the US & Europe31:50 – Risk, underwriting & data: building trust at scale35:10 – The funding winter38:20 – Investor expectations in shifting markets41:17 – Corporate vs. startup: what really changes44:40 – Operating with speed vs. certainty46:45 – The Ironman mindset50:10 – What endurance sports teach about leadership53:27 – What Rob wishes he knew earlier55:00 – Frustrations, regrets, disappointments56:35 – What keeps Rob optimistic58:10 – The next five years01:01:45 – Closing reflections & advice for operators 📚 References (Mentioned in the Episode) People Rob Schimek—https://www.linkedin.com/in/rob-schimek-59b37a1/ [https://www.linkedin.com/in/rob-schimek-59b37a1/]Miro Lu—https://www.linkedin.com/in/mirolu [https://www.linkedin.com/in/mirolu] Companies & Organisations bolttech—https://www.bolttech.io [https://www.bolttech.io]Liberty Mutual—https://www.libertymutual.com [https://www.libertymutual.com]AIG—https://www.aig.com [https://www.aig.com]Pacific Century Group (PCG)—https://www.pcg-group.com [https://www.pcg-group.com]Fosun International—https://www.fosun.com [https://www.fosun.com]LeapFrog Investments—https://www.leapfroginvest.com [https://www.leapfroginvest.com]EQT Group—https://eqtgroup.com [https://eqtgroup.com]MetLife—https://www.metlife.com [https://www.metlife.com]AXA—https://www.axa.com [https://www.axa.com]Tokio Marine—https://www.tokiomarine.com [https://www.tokiomarine.com]Prudential—https://www.prudential.com.sg [https://www.prudential.com.sg]Swiss Re—https://www.swissre.com [https://www.swissre.com] Concepts & Frameworks Swiss Re Protection Gap Research—https://www.swissre.com/institute [https://www.swissre.com/institute]Embedded Insurance (McKinsey)—https://www.mckinsey.com/industries/financial-services/our-insights/embedded-insurance [https://www.mckinsey.com/industries/financial-services/our-insights/embedded-insurance]Insurtech Landscape (EY)—https://www.ey.com/en_gl/insurance/how-insurtechs-are-reshaping-insurance [https://www.ey.com/en_gl/insurance/how-insurtechs-are-reshaping-insurance]Global Insurance Regulation—https://www.iaisweb.org [https://www.iaisweb.org]Digital Underwriting Models—https://www.actuaries.org [https://www.actuaries.org] Regulators MAS—https://www.mas.gov.sg [https://www.mas.gov.sg]Hong Kong Insurance Authority—https://www.ia.org.hk [https://www.ia.org.hk]NAIC—https://www.naic.org [https://www.naic.org]EIOPA—https://www.eiopa.europa.eu [https://www.eiopa.europa.eu] Reports Swiss Re Sigma—https://www.sigma-explorer.com [https://www.sigma-explorer.com]McKinsey Global Insurance Report—https://www.mckinsey.com [https://www.mckinsey.com]Deloitte Insurance Outlook—https://www2.deloitte.com [https://www2.deloitte.com]Bain APAC Insurance & Bancassurance Insights—https://www.bain.com [https://www.bain.com] Books / Mindset Simon Sinek—Start with WhyBen Horowitz—The Hard Thing About Hard ThingsAngela Duckworth—GritDavid Goggins—Can’t Hurt Me Sports & Endurance Ironman—https://www.ironman.com [https://www.ironman.com]Training Peaks—https://www.trainingpeaks.com [https://www.trainingpeaks.com] 🎙️ About Asia Tech Lens Produced by Perspective Media (Singapore), Asia Tech Lens explores the technology, trends, and people shaping Asia’s innovation landscape — and its global impact. For enquiries about: * Sponsorships & partnerships: partnerships@asiatechlens.com [partnerships@asiatechlens.com] * Media & permissions: editor@asiatechlens.com [editor@asiatechlens.com] This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.asiatechlens.com [https://www.asiatechlens.com?utm_medium=podcast&utm_campaign=CTA_1]

Why This Fintech Veteran Is Betting on Stablecoins | Conversation with Eric Barbier

In this episode, we sit down with serial entrepreneur Eric Barbier, who lives by a simple rule: “Where there is a problem, there is a business.”Eric has lived several chapters of the fintech story. He built a mobile-messaging startup, enabled international prepaid top-ups, and supported mobile-wallet remittances across regions from Southeast Asia to Africa. Throughout those chapters, the same operational issues kept appearing—pre-funding requirements, weekend and holiday settlement delays, failed payments, fraud exposure, and chargeback risk.Those long-standing inefficiencies eventually shaped his latest venture: Triple-A.io - a regulated payments institution that lets businesses accept and send stablecoins instantly, without ever handling crypto themselves. In this conversation, Eric breaks down what stablecoins actually solve. They move in real time, operate 24/7, eliminate chargebacks, and are already used by hundreds of millions of people worldwide—addressing the exact bottlenecks he previously had to engineer around. 💡What You’ll Learn * How Eric built a mobile messaging network and turned it into an interconnect business. * Why international prepaid top-ups became a growth engine across emerging markets. * How mobile-wallet remittances expanded through local partnerships and on-the-ground sales insights. * What entrepreneurs rarely talk about: investor pressure, misaligned incentives, and lessons from a $400M exit. * How pre-funding, weekend delays, FX frictions, and chargebacks repeatedly surfaced in his cross-border ventures. * Why Eric concluded that stablecoins fix the same operational issues he battled for decades. * What stablecoin settlement actually looks like for merchants—speed, finality, and no chargebacks. * Why enterprise clients are increasingly requesting blockchain-based settlement rails. * How market adoption varies between Asia, Europe, and the U.S. FinTech landscape. * What practical leadership looks like inside a distributed, multi-market payments company. * How founder mindset evolves after multiple exits—and why Eric keeps building. ⏱️ In This Episode 00:00 [https://www.youtube.com/watch?v=RWgonx6bCLk] - Introduction01:20 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=80s] - Origins04:24 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=264s] - The Asia Pivot07:15 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=435s] - First Exit Reflections12:45 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=765s] - Business Model Overview13:56 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=836s] - Why TransferTo Was Acquired15:12 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=912s] - Post-Exit Decisions16:38 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=998s] - Tackling the US Market17:46 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1066s] - Talking Directly with Clients is Key18:16 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1096s] - The SFO Experience20:37 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1237s] - Where Did the Idea for Triple-A.io Come From?23:19 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1399s] - Why Stablecoins Matter for Global Merchants25:26 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1526s] - Stablecoins vs Traditional Payment Networks27:46 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1666s] - The Broader Blockchain Era28:41 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=1721s] - Stablecoin Adoption Trends35:35 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=2135s] - Regulation, Licencing, Merchant Adoption39:42 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=2382s] - Biggest Lessons and Mistakes as an Entrepreneur41:45 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=2505s] - Understanding VC Expectations42:00 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=2520s] - Differences Between East and West44:46 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=2686s] - Managing Global Teams50:34 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=3034s] - Leisure and Life55:52 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=3352s] - Advice to Your Younger Self59:07 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=3547s] - “If there’s a problem, there’s a business”59:24 [https://www.youtube.com/watch?v=RWgonx6bCLk&t=3564s] - “What I really love is proving my point” 📚 References People & Founders * Eric Barbier, CEO, Triple-A.io - https://www.linkedin.com/in/ericbarbier/ [https://www.linkedin.com/in/ericbarbier/] Companies, Platforms & Ventures * Triple-A.io - https://triple-a.io [https://triple-a.io] * DT One - https://www.dtone.com [https://www.dtone.com] * TransferTo / Thunes - https://www.thunes.com/news/fintech-connect-live-interview-transferto-ceo-eric-barbier-on-mobile-money/ [https://www.thunes.com/news/fintech-connect-live-interview-transferto-ceo-eric-barbier-on-mobile-money/] * Trip.com - https://www.trip.com [https://www.trip.com] Mobile Wallets, Telcos & Crypto * GCash (Philippines) - https://www.gcash.com [https://www.gcash.com] * PayMaya / Maya (Philippines) - https://www.maya.ph [https://www.maya.ph] * M-Pesa (Kenya) - https://www.safaricom.co.ke/personal/m-pesa [https://www.safaricom.co.ke/personal/m-pesa] * bKash (Bangladesh) - https://www.bkash.com [https://www.bkash.com] * Singtel (Singapore) - https://www.singtel.com [https://www.singtel.com] * Maxis (Malaysia) - https://www.maxis.com.my [https://www.maxis.com.my/en/home/] * Bitcoin - https://bitcoin.org [https://bitcoin.org/en/] Regulators, Licenses & Jurisdictions * MAS – Monetary Authority of Singapore - https://www.mas.gov.sg [https://www.mas.gov.sg/] Movies * ‘The Great Dictator’ by Charlie Chaplin - https://www.imdb.com/title/tt0032553/ [https://www.imdb.com/title/tt0032553/] 🎙️ About Asia Tech Lens Produced by Perspective Media (Singapore), Asia Tech Lens explores the technology, trends, and people shaping Asia’s innovation landscape — and its global impact. For enquiries about: * sponsorships or collaboration: partnerships@asiatechlens.com * media or permissions: editor@asiatechlens.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.asiatechlens.com [https://www.asiatechlens.com?utm_medium=podcast&utm_campaign=CTA_1]

The Hard Truths Most Fintech Founders Learn Too Late | Conversation with Kelvin Teo

This week on Asia Tech Lens, we unpack one of Southeast Asia’s most instructive fintech stories: how Kelvin Teo built Funding Societies | Modalku into the region’s largest SME digital lender — and the painful lessons most founders only learn the hard way. The spark was unexpected. During his time at Harvard Business School, Kelvin heard Peter Thiel argue that Asia didn’t need “more innovation,” it needed better execution. That provocation pushed Kelvin and his co-founder, Reynold Wijaya, to confront a structural financing gap no one wanted to touch. What followed was a decade of difficult, often unglamorous work: building credit models with barely any data, engaging regulators before frameworks existed, surviving liquidity crunches and layoffs, expanding across markets with wildly different risk profiles, and learning how founder alignment becomes the decisive ingredient for long-term resilience. Hosted by Miro Lu, this episode goes deep into what it actually takes to build a regional fintech serving millions of SMEs — not the glossy narrative, but the real operational, cultural, and emotional load behind the scenes. 💡What You’ll Learn * How “execution over innovation” became the founding insight * Why SME financing in SEA was chronically underserved * Building credit models in data-scarce environments * Surviving early shocks: liquidity crunches, layoffs, and tough calls * How founder alignment shapes resilience * Expanding across SG, ID, MY, TH, VN — the real operational cost * Balancing aggressive scaling with responsible risk management * Navigating regulators and investors across multiple jurisdictions * What fintech founders consistently underestimate in SEA * What the next decade of SME financing looks like ⏱️ In This Episode 00:00 – Opening provocation & Peter Thiel’s comment00:34 – Why they aligned early as founders01:41 – Entering the origin story02:19 – The comment that sparked Funding Societies03:10 – Studying US innovation models & scanning opportunities04:09 – Narrowing down the fintech ideas07:49 – Kevin’s early career and what shaped him09:41 – Forming the co-founder relationship11:49 – Harvard as a launching pad12:54 – Running a startup from Boston13:58 – Sequoia’s early engagement & the term-sheet saga17:34 – Building credit models with limited data21:22 – Hyper-local risk, experimentation & mitigations22:27 – How microloans were pioneered25:59 – Microloans, property-backed lending and product evolution28:10 – First major shocks: bank partnerships & credibility29:47 – Surviving the early bank relationship winter31:24 – How the fintech landscape matured33:11 – Profitability by country33:43 – Lessons from M&A through CardUp acquisition37:50 – Regional expansions: Singapore, Indonesia and Beyond40:55 – Balancing group discipline with local autonomy41:32 – Mission, vision & preventing Southeast Asia’s “middle-income trap”42:45 – Surviving early shocks and hard lessons47:25 – Retaining sanity & emotional management49:21 – How Southeast Asian founders build support infrastructure50:33 – Scaling responsibly vs scaling fast52:38 – The AI frenzy & distinguishing real from “fake AI”54:19 – Looking ahead: the next decade of SME financing58:48 – Leadership, culture and founder resilience01:02:21 – Advice to his younger self01:03:48 – If Kelvin weren’t building FS01:05:08 – The future of SME financing in Southeast Asia01:06:58 – IPO vs trade sale01:08:14 – Outside of work01:09:20 – Book recommendation01:10:15 – Closing 📚 References People & Founders * Kelvin Teo — Co-Founder & Group CEO, Funding Societies | Modalku — https://www.linkedin.com/in/tkelvin/ [https://www.linkedin.com/in/tkelvin/] * Reynold Wijaya — Co-Founder, Funding Societies | Modalku — https://www.linkedin.com/in/reynoldwijaya/ [https://www.linkedin.com/in/reynoldwijaya/] * Peter Thiel — Entrepreneur & investor; HBS talk that sparked the “execution over innovation” idea — https://thielfoundation.org [https://thielfoundation.org] * Aaron Tan — Co-Founder & CEO, Carro — https://www.linkedin.com/in/aarontan/ [https://www.linkedin.com/in/aarontan/] * Piyush Gupta — CEO, DBS Bank — https://www.dbs.comhttps://www.linkedin.com/in/piyushguptasingapore/ [https://www.linkedin.com/in/piyushguptasingapore/] Companies, Platforms & Brands * Funding Societies | Modalku — Southeast Asia’s largest SME digital finance platform — https://fundingsocieties.com * Carro — Online used-car marketplace in Southeast Asia — https://carro.co [https://carro.co] * ShopBack — Rewards & cashback platform founded by NUS Overseas Colleges alumni — https://www.shopback.com [https://www.shopback.com] * Lego — Global toy company; referenced via an SME distributor client — https://www.lego.com [https://www.lego.com] Consulting, Finance & Tech Firms (Kelvin’s Background & M&A) * Accenture — https://www.accenture.com [https://www.accenture.com] * McKinsey & Company — https://www.mckinsey.com [https://www.mckinsey.com] * KKR (incl. KKR Capstone) — https://www.kkr.com [https://www.kkr.com] Universities & Entrepreneurship Programs * Harvard Business School — https://www.hbs.edu [https://www.hbs.edu] * National University of Singapore (NUS) — https://www.nus.edu.sg [https://www.nus.edu.sg] * NUS Overseas Colleges (NOC) — Entrepreneurship program where many SEA founders emerged — https://enterprise.nus.edu.sg/education-programmes/nus-overseas-colleges [https://enterprise.nus.edu.sg/education-programmes/nus-overseas-colleges] * University of Pennsylvania — https://www.upenn.edu [https://www.upenn.edu] Fintech, Banking & Ecosystem Players * Monetary Authority of Singapore (MAS) — Regulator backing early fintech and SFF — https://www.mas.gov.sg [https://www.mas.gov.sg] * Singapore FinTech Festival — Flagship regional fintech event — https://www.fintechfestival.sg [https://www.fintechfestival.sg] * DBS Bank — First major bank partner for Funding Societies — https://www.dbs.com [https://www.dbs.com] * SMBC (Sumitomo Mitsui Banking Corporation) — Strategic investor from Japan — https://www.smbc.co.jp [https://www.smbc.co.jp] * Maybank (Malayan Banking Berhad) — Strategic investor from Malaysia — https://www.maybank.com [https://www.maybank.com] * Bank Rakyat Indonesia (BRI / BRI Ventures) — Indonesian banking group & investor — https://bri.co.id [https://bri.co.id] Investors, VCs & Impact Capital * Alpha JWC Ventures — Early seed investor — https://www.alphajwc.com [https://www.alphajwc.com] * Sequoia Capital / Peak XV Partners — Series A backer — https://www.peakxv.com [https://www.peakxv.com] * Cool Japan Fund (CJF) — Japan sovereign wealth fund investing in Funding Societies — https://www.cj-fund.co.jp/en [https://www.cj-fund.co.jp/en] * Norfund — Norwegian development finance institution — https://www.norfund.no [https://www.norfund.no] Tools, Hiring & Ops Mentioned * Startup Jobs Asia — Early hiring platform Kelvin used — http://www.startupjobs.asia [http://www.startupjobs.asia] Books & Ideas Referenced * The Hard Thing About Hard Things — Ben Horowitz (on the brutality of startup decisions) * The Philosophy of Money — Classic work on money and human behaviour (title referenced) * “Radical Candor” & Netflix-style feedback cultures — referenced when discussing performance, culture, and how Western management ideas translate (or fail) in Southeast Asia 🎙️ About Asia Tech Lens Produced by Perspective Media (Singapore), Asia Tech Lens explores the technology, trends, and people shaping Asia’s innovation landscape — and its global impact. For enquiries about: * sponsorships or collaboration: partnerships@asiatechlens.com [partnerships@asiatechlens.com] * media or permissions: editor@asiatechlens.com [editor@asiatechlens.com] #Fintech #FundingSocieties #KelvinTeo #SMELending #SoutheastAsia #DigitalLending #FintechFounders #AsiaTechLens #FounderStories #SEAStartups This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.asiatechlens.com [https://www.asiatechlens.com?utm_medium=podcast&utm_campaign=CTA_1]

Why Superhexa Is Rethinking AI Glasses

In this episode of Asia Tech Lens: Founder Stories, we sit down with Guo Jun, Co-Founder of Superhexa — a Beijing-based startup taking one of the boldest approaches in China’s AI hardware boom. Superhexa is betting on an idea most of the industry got wrong. More than 100 Chinese companies have rushed to launch AI glasses in the past 18 months — but most of those devices are too heavy, too hot, have weak battery life, or rely on AI features that don’t match how people actually use glasses. Guo Jun argues the problem isn’t AI at all.The real problem is the glasses. Instead of starting with AI hype, Superhexa spent years perfecting the fundamentals: comfort, weight, all-day battery life, and audio quality. Only once the hardware felt natural — something people could actually wear all day — did they bring AI into the product. And they had to do all of this while navigating China’s most unforgiving consumer market: the Xiaomi ecosystem’s expectations, ODM economics, brutal price competition, creator-driven demand on Douyin and Xiaohongshu, and the constant pressure of competing with giants like OPPO, Vivo, and Huawei. Hosted by Miro Lu, this conversation explores what it takes to survive as a hardware startup in China — where burn rates spike quickly, margins disappear overnight, and one wrong product decision can end the company. 💡What You’ll Hear About * Why most AI glasses fail — and why users won’t wear them * Superhexa’s “subtraction strategy” and audio-first approach * Navigating Xiaomi’s ecosystem, approvals, and expectations * Building 11–12 hours of real battery life * Domestic LLMs vs ChatGPT (and how Superhexa stays model-agnostic) * Why phones still beat glasses for most “AI scenarios” * Competing in China’s hyper-competitive electronics market * Lessons from ODM work, branding battles, and supply-chain realities * High R&D spend, cash pressure, and near-failure moments * The long-term vision for AI wearables — beyond glasses ⏱️ In This Episode 00:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU] – “Wrong decision”: the painful origin01:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=60s] – Entering the Xiaomi ecosystem01:42 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=102s] – What is Superhexa?02:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=120s] – ODM for Xiaomi vs building Jiehuan03:40 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=220s] – 100+ companies chasing AI glasses04:20 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=260s] – Why most AI glasses fail05:30 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=330s] – The subtraction strategy06:24 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=384s] – Streamlining the Product: Feature Reductions as Strategy07:30 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=450s] – Domestic LLMs vs ChatGPT09:40 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=580s] – Why phones still win11:50 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=710s] – Achieving all-day battery life14:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=840s] – The bigger AI wearables vision15:30 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=930s] – Hardware economics for startups17:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1020s] – Competing with giants20:40 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1240s] – China’s consumer electronics intensity22:28 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1348s] – Global Expansion and China’s Supply Chain Advantage24:20 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1460s] – Kickstarter / Indiegogo25:30 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1530s] – Douyin & Xiaohongshu marketing27:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1620s] – Bilibili for tech credibility31:40 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1900s] – Branding vs product32:02 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=1922s] – Decision Making in Startup Culture34:40 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2080s] – Surviving as a small team36:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2160s] – Why they skipped visual AR37:47 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2267s] – Your journey from Xiaomi to Superhexa39:10 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2350s] – Investor landscape42:12 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2532s] – Superhexa’s Financing Journey46:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2760s] – What founders underestimate in hardware47:47 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2867s] – 996, 007 and Juan Culture in Chinese Business47:47 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=2867s] – Attracting and Keeping Talents56:00 [https://www.youtube.com/watch?v=PdfJIpZLyfU&t=3360s] – What’s next for Superhexa 📚 References 🎧 Companies / Brands Superhexa – https://www.superhexa.com [https://www.superhexa.com]Jiehuan (Superhexa’s in-house brand)Xiaomi – https://www.mi.com [https://www.mi.com]OPPO – https://www.oppo.com [https://www.oppo.com]Vivo – https://www.vivo.com [https://www.vivo.com]Huawei – https://www.huawei.com [https://www.huawei.com]Luxshare Precision – https://www.luxshare-ict.com [https://www.luxshare-ict.com]Zeiss – https://www.zeiss.com [https://www.zeiss.com]Thunderbird Innovation – https://rayneo.cn/ [https://rayneo.cn/]Ray-Ban Meta – https://www.meta.com/ai-glasses/ray-ban/ [https://www.meta.com/ai-glasses/ray-ban/] 🥽 Products / Categories AI Glasses – https://www.meta.com/ai-glasses/ [https://www.meta.com/ai-glasses/]Audio Glasses – https://www.superhexa.com [https://www.superhexa.com]Vision Pro – https://www.apple.com/apple-vision-pro [https://www.apple.com/apple-vision-pro]TWS Earbuds / VR–AR Glasses / AI Wearables 🤖 AI Models & Platforms Xiao Ai – https://www.mi.com [https://www.mi.com]ChatGPT – https://openai.com/chatgpt [https://openai.com/chatgpt]Domestic Chinese LLMs 🛍️ Crowdfunding Kickstarter – https://www.kickstarter.com [https://www.kickstarter.com]Indiegogo – https://www.indiegogo.com [https://www.indiegogo.com] 🌐 Content & Social bilibili – https://www.bilibili.com [https://www.bilibili.com]Douyin – https://www.douyin.com [https://www.douyin.com]Xiaohongshu – https://www.xiaohongshu.com [https://www.xiaohongshu.com] 💰 Investors ZhenFund – https://www.zhenfund.com [https://www.zhenfund.com]Yunqi Partners – https://www.yunqi.vc [https://www.yunqi.vc]Qiming – https://www.qimingvc.com [https://www.qimingvc.com]CCV – https://www.ccvcap.com [https://www.ccvcap.com]Chuangshi Partners – https://tracxn.com/d/venture-capital/china-creation-ventures [https://tracxn.com/d/venture-capital/chuangshi-capital/__L0LU0-eHwvunsmABXEP_QCfj6HmXLS7gj4oAO_VFtr8] 🎙️ About Asia Tech Lens Produced by Perspective Media (Singapore), Asia Tech Lens explores the technology, trends, and people shaping Asia’s innovation landscape — and its global impact. For enquiries about: * sponsorships or collaboration: partnerships@asiatechlens.com [partnerships@asiatechlens.com] * media or permissions: editor@asiatechlens.com [editor@asiatechlens.com] This episode was recorded in Mandarin. The video version includes full English subtitles. #AIGlasses #WearableAI #AIWearables #SmartGlasses #AudioGlasses #ChinaTech #HardwareStartups #XiaomiEcosystem #FounderStories #ConsumerHardware #AIHardware #DeepTech #AsiaTech #AsiaTechLens This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.asiatechlens.com [https://www.asiatechlens.com?utm_medium=podcast&utm_campaign=CTA_1]