SINGAPORE -- As the world fights the novel coronavirus pandemic, Southeast Asian startups face another battle: Cash burn. With economic activity paralyzed by the outbreak, many startups are scrambling to cut costs -- slicing payrolls and the wages of those still on the job.
Digital payments startup FOMO Pay had been expecting a promising year of growth ahead, as the financial technology sector in Southeast Asia continued to boom with rising numbers of consumers spending via virtual wallets.
