While the startup landscape of Southeast Asia continues to flourish, new and vast opportunities for outsourcing, freelance work, and more open up to communities.
Online freelancing platforms like Upwork, which raised US$187 million at a valuation of US$1.5 billion in its New York IPO earlier this month, have sprung up to play the role of middleman.
Citing the freshly listed US firm as an inspiration, Bangkok-based Fastwork is aiming to become a leading “gig economy” marketplace for connecting freelancers with startups and small and medium-sized enterprises across the region. It recently raised US$4.8 million in series A funding to help it realize that goal.
As reported earlier this week, Kuala Lumpur-based Gobi Partners led the round through its newly established, US$10 million Gobi-Agung Fund, which is focused on early-stage opportunities in the Indonesian market.
While Fastwork operates in Thailand and its management team – made up of Silicon Valley veterans – is mainly located in the kingdom’s capital, Indonesia is its other key market.
Fastwork employs more than 50 people across both countries, and claims to have clocked 1,100 percent revenue growth since December 2017.
Its online platform incorporates a secure payments system and scores individual freelancers and agents using proprietary tech, helping prospective clients to screen and select them.
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