Startups in Singapore are numerous and well-known even in other countries. Singapore is one of the countries in Southeast Asia that has several well-known companies and startups.
These startups have already achieved unicorn status, which means they have a valuation of at least 1 billion US dollars. Some of the Singaporean unicorns include Caro, Carousell, Nium, and PatSnap.
See Tutorial Account Verification Jack
Despite being smaller than Indonesia, Singapore is more advanced in technology and has been supportive of startups.
These startups have even expanded to other countries, including Indonesia, where they have been very successful.
List of Startups Based in Singapore
Here are some of the famous startups from Singapore that are widely used:
Grab is a Singaporean startup that has expanded to Indonesia as a transportation option for the public. It was launched in Malaysia in 2012 and achieved unicorn status two years later.
Grab has become very popular and has a large following because it offers digital payment services, food delivery, and package delivery in addition to ride-hailing services. It has been a decacorn since 2018.
Lazada is a Singaporean startup that has become very successful as one of the largest e-commerce platforms in Southeast Asia, with its headquarters located in Singapore.
Today, Lazada has achieved unicorn status and is not far behind Tokopedia and Bukalapak, both of which are based in Indonesia.
As is known, the majority shareholder is Alibaba, a company from China, which invested 1 billion US dollars in 2016.
In 2017, Alibaba invested another 1 billion US dollars and in 2018, it increased its investment to 2 billion US dollars.
Another Singaporean startup is Sea, formerly known as Garena, which became a unicorn in 2014.
Although it started as a gaming company, this startup has since expanded to three main business lines: gaming, financial technology, and e-commerce.
Its flagship product in the e-commerce sector is Shopee, which is very popular in Indonesia.
SEA has made its company more public after officially registering for an IPO on the New York Stock Exchange in 2017.
Another well-known Singaporean startup is Razer, a gaming technology company that became a unicorn in 2015.
Its existence is similar to SEA, as Razer made its company public after registering on the Hong Kong Stock Exchange in 2017.
This Singaporean startup is worth about 1.9 billion US dollars, or about 21 trillion rupiah.
Carousel is also a unicorn startup based in Singapore that recently launched its latest advantage after raising 100 million US dollars and creating a mobile application that offers a very easy-selling concept.
This application allows users to take photos and buy items with simple steps, like chatting.
This startup has been a unicorn since May 2012, starting in Singapore but now expanding to other Asian regions like Indonesia.
Its valuation is now at 900 million US dollars, or about 12.8 trillion rupiah, with its fundraising peak during the pandemic in 2020 and growth from unicorn leader Siu Rui Quek.
Nium is another unicorn startup in Singapore that is a potential company and has received funding from MDI Ventures and recently raised 200 million US dollars in a series D round, which attracted technology-based investors from Riverwood Capital in the United States.
With this additional funding, the company was able to raise 300 million US dollars and even reached a valuation of over one billion dollars.
The startup aims to become the first B2B payment in Southeast Asia and support startups to become local partners in expanding their business in Indonesia, providing platforms and licensing security against Indonesian payments and operating B2B remittance services.