What started as a way for game publishers to escape the ‘app tax’ has evolved into a global monetisation and distribution platform. Fresh from acquiring its European counterpart Recharge, Coda now processes nearly $2 billion in commerce annually.



CEO Shane Happach, the company's first non-founder CEO, joins us to discuss this new chapter. He shares his mantra of "profitable global growth," the strategy behind the Recharge acquisition, and how Coda is expanding beyond gaming to help any digital business abstract the complexity of global payments and distribution.



We discuss:


The evolution from a payments provider to a full-stack monetisation platform.


The strategy behind the acquisition of Recharge and their European expansion.


Their ‘profitable global growth’ mantra and future M&A outlook.


How regulatory tailwinds are opening up app ecosystems for third-party payments.


Their plans for geographic expansion into markets like Brazil and Japan.



This episode of Open For Business is powered by PETRONAS SmartPay, the simpler and better solution for all your business needs.

What started as a way for game publishers to escape the ‘app tax’ has evolved into a global monetisation and distribution platform. Fresh from acquiring its European counterpart Recharge, Coda now processes nearly $2 billion in commerce annually.CEO Shane Happach, the company's first non-founder CEO, joins us to discuss this new chapter. He shares his mantra of "profitable global growth," the strategy behind the Recharge acquisition, and how Coda is expanding beyond gaming to help any digital business abstract the complexity of global payments and distribution.We discuss:<ul><li>The evolution from a payments provider to a full-stack monetisation platform.</li><li>The strategy behind the acquisition of Recharge and their European expansion.</li><li>Their ‘profitable global growth’ mantra and future M&amp;A outlook.</li><li>How regulatory tailwinds are opening up app ecosystems for third-party payments.</li><li>Their plans for geographic expansion into markets like Brazil and Japan.</li></ul>This episode of Open For Business is powered by PETRONAS SmartPay, the simpler and better solution for all your business needs.

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Open For Business

Discover fresh concepts, tackle obstacles, and unleash growth - Open For Business is the dynamic show where BFM engages with entrepreneurs, business leaders, and industry trailblazers, igniting inspiration, sparking success, and exploring new business models.

Coda: From ‘App Tax’ Avoidance to Processing ~$2B Yearly

Prof. Dr. Billy Tang’s journey from paraplegic farmer to global changemaker is at the heart of PWD Smart FarmAbility, a disability-led social enterprise transforming food security and community resilience. After an accident that left him paralysed, Billy reimagined how agriculture could work for people with limited mobility, low income, or no farming experience.



The result: the HOPE Box and Soil-U-tion™ Model, a regenerative, zero-synthetic system now used across many households,Program Pendidikan Khas Integrasi (PPKI) / Special Education Integrated Programme schools, elderly homes and refugee communities. It produces clean vegetables every 10 – 14 days and tilapia protein every few months, while restoring microbial soil life and reducing food bills.



In this conversation, Billy shares his personal turning point, the business engine behind PWD Smart FarmAbility, the realities of scaling social innovation, and why disability-led leadership belongs at the centre of Malaysia’s future food story.

Prof. Dr. Billy Tang’s journey from paraplegic farmer to global changemaker is at the heart of PWD Smart FarmAbility, a disability-led social enterprise transforming food security and community resilience. After an accident that left him paralysed, Billy reimagined how agriculture could work for people with limited mobility, low income, or no farming experience.The result: the HOPE Box and Soil-U-tion™ Model, a regenerative, zero-synthetic system now used across many households, Program Pendidikan Khas Integrasi (PPKI) / Special Education Integrated Programme schools, elderly homes and refugee communities. It produces clean vegetables every 10 – 14 days and tilapia protein every few months, while restoring microbial soil life and reducing food bills.In this conversation, Billy shares his personal turning point, the business engine behind PWD Smart FarmAbility, the realities of scaling social innovation, and why disability-led leadership belongs at the centre of Malaysia’s future food story.

The HOPE Box That Started a Movement

While the rest of Southeast Asia was chasing the "super app" dream and burning cash on subsidies, Qualgro took a different path. For the last decade, this VC firm has quietly focused on the "boring back end of the internet", B2B software, data, and AI.



General Partner Weisheng Neo joins us to explain why this approach is paying off. 

He also discusses why the NASDAQ isn't always the best exit for regional startups (and why the Tokyo Stock Exchange might be), why he views the current funding climate as a "natural correction" rather than a crisis, and how to build companies for "quality growth" in an era of high interest rates.



We discuss:


Why Qualgro bet on B2B software over consumer tech.


The "mid-market ceiling": Why $200-400M exits are the sweet spot for SEA.


The Appier case study: Why they listed on the Tokyo Stock Exchange.


Identifying "AI-native" startups vs. ChatGPT wrappers.


Why "management by consensus" is a death knell for startups.



Image Credit: Shutterstock

While the rest of Southeast Asia was chasing the "super app" dream and burning cash on subsidies, Qualgro took a different path. For the last decade, this VC firm has quietly focused on the "boring back end of the internet", B2B software, data, and AI.General Partner Weisheng Neo joins us to explain why this approach is paying off.&nbsp;He also discusses why the NASDAQ isn't always the best exit for regional startups (and why the Tokyo Stock Exchange might be), why he views the current funding climate as a "natural correction" rather than a crisis, and how to build companies for "quality growth" in an era of high interest rates.We discuss:<ul><li>Why Qualgro bet on B2B software over consumer tech.</li><li>The "mid-market ceiling": Why $200-400M exits are the sweet spot for SEA.</li><li>The Appier case study: Why they listed on the Tokyo Stock Exchange.</li><li>Identifying "AI-native" startups vs. ChatGPT wrappers.</li><li>Why "management by consensus" is a death knell for startups.</li></ul>Image Credit: <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.shutterstock.com/image-photo/close-map-southeast-asia-displaying-thailand-2648220493?trackingId=729ac902-78f4-4c78-91c8-d806a3f9c1ee">Shutterstock</a>

Series A, B, Then Exit? Why SEA Has a $400M Exit Ceiling

With a 50/50 revenue split between local and international markets, Superdough has quietly grown into an 8-figure entertainment powerhouse. Already operating across the US, South Korea, and the UAE, the company behind Breakout and Hauntu is now accelerating its global expansion with unique new models.



Co-founders Johnny Ong and Kelly Low join us to share their strategy for scaling mid-tier entertainment concepts abroad. They discuss their new "student-run" franchise partnership in Texas, their major upcoming expansion into Montreal, and why they are pivoting to the kids' market with Spy Game Jr.



We discuss:


The journey to 8-figure annual revenue and 25% YoY growth.


Their strategy for managing a 50/50 local vs. international portfolio.


The unique "student-run" franchise model with a US school district.


Why they created Spy Game Jr. to capture the kids' market.


How AI is helping them visualize and balance game puzzles faster.

With a 50/50 revenue split between local and international markets, Superdough has quietly grown into an 8-figure entertainment powerhouse. Already operating across the US, South Korea, and the UAE, the company behind Breakout and Hauntu is now accelerating its global expansion with unique new models.Co-founders Johnny Ong and Kelly Low join us to share their strategy for scaling mid-tier entertainment concepts abroad. They discuss their new "student-run" franchise partnership in Texas, their major upcoming expansion into Montreal, and why they are pivoting to the kids' market with Spy Game Jr.We discuss:<ul><li>The journey to 8-figure annual revenue and 25% YoY growth.</li><li>Their strategy for managing a 50/50 local vs. international portfolio.</li><li>The unique "student-run" franchise model with a US school district.</li><li>Why they created Spy Game Jr. to capture the kids' market.</li><li>How AI is helping them visualize and balance game puzzles faster.</li></ul>

Coda: From ‘App Tax’ Avoidance to Processing ~$2B Yearly

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