Tech start-ups

Entrepreneurs drawn by clear laws, ease of set-up, savvy investors

Crowd-investing website Funding Societies co-founders Kelvin Teo (left) and Reynold Wijaya, and multi-currency mobile wallet YouTrip co-founder and chief executive Caecilia Chu.
Crowd-investing website Funding Societies co-founders Kelvin Teo (left) and Reynold Wijaya, and multi-currency mobile wallet YouTrip co-founder and chief executive Caecilia Chu. PHOTOS: FUNDING SOCIETIES, YOUTRIP

When Malaysian Kelvin Teo and Indonesian Reynold Wijaya set up crowd-investing website Funding Societies in 2015 in Singapore, both were not on the island.

"My co-founder and I incorporated the company and built a team (of five) here, via the Internet and video calls, without being physically in Singapore," Mr Teo, a Singapore permanent resident, told The Straits Times.

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A version of this article appeared in the print edition of The Straits Times on January 31, 2019, with the headline 'Entrepreneurs drawn by clear laws, ease of set-up, savvy investors'. Subscribe