Top Super App Stories This Week:

• TikTok’s ‘Everything War’ in Southeast Asia

• UK Neobank Super App Revolut Valued at $45B After Secondary Market Sale

• reAlpha Launches AI-Powered Real Estate Super App

• MTN’s Ayoba Super App Grows User Base By 28.6% to 36 Million Monthly Active Users

• Philippines' Finance Super App GCash Releases Latest Story, Inspiring Hope and Progress for Country’s PWD Community

  
  

1. TikTok’s ‘Everything War’ in Southeast Asia

TikTok is expanding its reach in Southeast Asia by testing local services features in Indonesia and Thailand, allowing users to order food, buy dine-in vouchers, and book hotels directly within the Social Networking Super App. This move follows the success of TikTok Shop in the region and mirrors the platform's approach in China, where its local services business has flourished on Douyin. TikTok's foray into local services aims to create a new revenue stream and deepen user engagement.

TikTok's local services strategy includes partnering with third-party platforms like Gojek's GoFood and Agoda in Indonesia. The platform's unique advantage lies in integrating location-based video and livestreaming, allowing users to discover and interact with nearby merchants. TikTok has also started exploring logistics partnerships to support efficient deliveries, a crucial component of success in the fragmented Southeast Asian market. These developments signal TikTok's intent to make its app an essential part of users' daily lives.

TikTok, a global tech giant known for its short-form video content with over 1 billion monthly active users worldwide, is now expanding beyond ecommerce to disrupt the local services market in Southeast Asia. In China, the sector is projected to reach a value of US$350 billion by 2025, with key players such as Meituan, Ele.me, and Douyin dominating the market. Douyin saw a 256% rise in gross merchandise value (GMV) for its local services business last year. As of January, more than 4.5 million offline merchants are linked to its platform.

Source: Tech in Asia

2. UK Neobank Super App Revolut Valued at $45B After Secondary Market Sale

Revolut has confirmed a new valuation of $45 billion following a secondary market share sale, cementing its position as one of Europe's most valuable private tech companies. This announcement comes shortly after the U.K.-based neobank Super App secured banking licenses in the U.K. and Mexico, further solidifying its expansion and growth trajectory.

Revolut’s journey from its founding in 2015 to becoming a fintech powerhouse has been marked by rapid growth, offering multi-currency accounts, crypto products, payment services, and more across international markets, including Europe and the U.S. With a user base now reaching 45 million and strong financial performance, Revolut is pushing forward with its super app model, integrating a wide range of financial services under one platform. This positions it as a key challenger to traditional banks on a global scale.

Led by CEO Nik Storonsky, Revolut has attracted major investors like Coatue, Tiger Global, and D1 Capital Partners in its recent share sale. With a robust valuation, newly acquired banking licenses, and growing user base, Revolut is poised for its next phase of growth, with IPO plans likely on the horizon, potentially favouring a U.S. listing.

Source: TechCrunch

3. reAlpha Launches AI-Powered Real Estate Super App

reAlpha Tech Corp. (Nasdaq: AIRE), a real estate technology company, has announced the launch of its newly rebranded Super App for mobile devices. Formerly known as “Claire,” the app now goes by the name “reAlpha,” offering an end-to-end, commission-free real estate experience that integrates AI-powered homebuying features. This launch aligns with recent industry changes, including the National Association of Realtors’ decision to eliminate the traditional six percent sales commission on home purchases.

The reAlpha Super App introduces innovative features, including the AI-powered real estate agent "Claire" that provides personalized, real-time homebuying assistance. The app uses AI algorithms to generate personalized property recommendations based on natural language search and reviews complex real estate documents to simplify the homebuying process. Additionally, users can complete their entire homebuying journey within the app, from searching for homes to closing deals, with licensed agents stepping in when necessary.

reAlpha Tech Corp. is a leader in real estate technology, focused on developing AI-driven solutions for property buyers. Their reAlpha Super App aims to disrupt the homebuying market by removing commission fees, offering expert AI support, and streamlining the transaction process, making home ownership more accessible and transparent for buyers.

Source: Financial Post

4. MTN’s Ayoba Super App Grows User Base By 28.6% to 36 Million Monthly Active Users

MTN's Super App Platform, ayoba, has experienced significant growth, expanding its user base by 28.6% year-on-year to 36 million monthly active users (MAUs) by June 2024. This surge in users is largely driven by the platform’s improved communication features, which have enhanced both adoption and retention rates.

The platform's expansion contributed to a 19.3% year-on-year increase in MTN's digital revenue, reaching R1.6 billion, with key markets like Nigeria and Ghana seeing strong adoption of its digital products. ayoba's success extended beyond MTN’s traditional markets, establishing 11.6 million MAUs in countries where MTN does not offer GSM services, showcasing the potential of ayoba as an over-the-top (OTT) platform across Africa.

MTN has also focused on expanding ayoba’s B2B services by integrating strategic advertising products and partners, with new launches in South Africa and Ghana, and upcoming expansions in Nigeria and Cameroon. With over 80 new partners joining ayoba’s ecosystem in the first half of the year, the platform is positioning itself for further growth and increased monetisation across the African continent.

Source: Tech Financials

5. Philippines' Finance Super App GCash Releases Latest Story Inspiring Hope and Progress for Country’s PWD Community

GCash, one of the Philippines' top Finance Super Apps, has released a new short film in its GCash Stories series, spotlighting Adeline "Adz" Dumapong, the country’s first Paralympic bronze medalist. The film highlights the financial and societal challenges faced by para-athletes, underscoring the need for greater inclusion and support. The release coincides with the success of the Philippine team at the 2024 Paris Olympics, drawing attention to the ongoing struggles of differently abled athletes.

As part of its broader mission for financial inclusion, GCash has partnered with various organisations to empower persons with disabilities (PWDs). The Super App is helping para-athletes like Adz raise funds through its platform and plans to integrate more inclusive programs by 2025. GCash has also signed a memorandum with the National Council for Disability Affairs (NCDA) to foster an inclusive workplace and partnered with WOW LEAP Inc. to support PWD capacity-building programs. These efforts reflect GCash’s commitment to financial education and inclusivity for all.

GCash is a leading Finance Super App in the Philippines, offering a wide range of services including mobile payments, money transfers, bill payments, savings, investments, insurance, and loans. It also provides innovative features such as GSave, GInvest, GInsure, and GCredit, enabling users to manage their finances conveniently within one app. With over 81 million registered users, GCash is one of the country’s most widely used financial platforms. The company has raised more than $1 billion in funding, solidifying its position as a dominant fintech player in Southeast Asia.

Source: People Asia

That's It For This Week!

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