Emergent

A newsletter about the fastest growing businesses in emerging markets

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Nubank: The World's Biggest Digital Bank

Brazilian Fintech Giant and its Ambitions in Latin America

My name is Mikal – I’m an early-stage tech investor and I was born in Asia, grew up in Africa and now live in the US. Every week I break down a fast-growing business in an emerging market to understand its product, market and growth strategy.  This week I’m breaking down Brazilian fintech giant Nubank. In emerging markets today a large minority or majority of citizens don’t have a bank account, don't have a debit card, don’t have life insurance and much more. This pattern is a common feature in countries from Latin America to Africa and Asia. However, in recent years a wave of digital banks (banks with no physical locations that are accessed purely through the internet) have been founded hoping to solve this very problem. The largest and most successful digital bank in an emerging market

Mikal Khoso

Apr 07 2021

6 min read

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Grab: The Most Valuable Startup in Southeast Asia

Ridesharing and Finance SuperApp

My name is Mikal – I’m an early-stage tech investor and I was born in Asia, grew up in Africa and now live in the US. Every week I break down a fast-growing business in an emerging market to understand its product, market and growth strategy.  This week I’m breaking down Southeast Asian SuperApp Grab. Southeast Asia is the most dynamic internet economy in the world outside of the United States and China. The number of internet users in the region has soared from 260 million in 2015 to 400 million by 2020. The region as a whole has a population of 650 million - about 9% of the total population of the world. With tens of millions getting mobile phones and coming online every year, Southeast Asia has proven to be fertile ground for a new wave of locally-founded startups. Today, the region’

Mikal Khoso

Mar 24 2021

8 min read

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Udaan: India’s Biggest Digital Wholesaler

Udaan, Reliance Retail and India's Kirana Wars

My name is Mikal – I’m an early-stage tech investor and I was born in Asia, grew up in Africa and now live in the US. Every week I break down a fast-growing business in an emerging market to understand its product, market and growth strategy.  This week I’m breaking down Indian B2B wholesaler Udaan. Within the next decade India will overtake China to become the most populous country in the world. Today India’s population is 1.38 billion and this is expected to reach 1.5 billion by 2030 and peak around 1.65 billion in the middle of this century. The enormous growth of India’s population - from just 370 million in 1950 - has created a massive and fast-growing retail market. Consumer spending in India is forecast to hit $3.6 trillion in 2021, more than 4x what it was a decade ago. Today Ind

Mikal Khoso

Mar 17 2021

10 min read