{"id":24238,"date":"2021-03-12T14:31:07","date_gmt":"2021-03-12T14:31:07","guid":{"rendered":"https:\/\/butlermag.com\/?p=24238"},"modified":"2021-03-14T08:19:01","modified_gmt":"2021-03-14T08:19:01","slug":"interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society","status":"publish","type":"post","link":"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/","title":{"rendered":"[Interview] Koh Kang Liang: An entrepreneur who believes in giving back to the society"},"content":{"rendered":"<p>Whilst most embark on their career journeys as salarymen, Koh Kang Liang ventured a different path. In 2019, he decided to start his own financial-technology (fintech) start-up, \u2018<a href=\"https:\/\/www.swapie.co\/\" target=\"_blank\" rel=\"noopener\">Swapie<\/a>\u2019.<\/p>\n<p><picture><source srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.webp 1024w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.webp 300w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.webp 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.png?resize=1024%2C550&#038;ssl=1\" height=\"550\" width=\"1024\" srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.png?w=1024&ssl=1 1024w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.png?resize=300%2C161&ssl=1 300w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Swapie.png?resize=768%2C413&ssl=1 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" class=\"alignnone size-full wp-image-24601 sp-no-webp\" alt=\"\" fetchpriority=\"high\" decoding=\"async\"   data-recalc-dims=\"1\"> <\/picture><\/p>\n<p style=\"text-align: center;\">Image: <a href=\"https:\/\/www.swapie.co\/\" target=\"_blank\" rel=\"noopener\">Swapie<\/a><\/p>\n<p>It was during a meal with his friends when the inspiration for Swapie struck Koh. Whilst using his credit card to pay for dinner, the idea of earning rebates when completing transactions got him thinking.<\/p>\n<p>The Singapore Management University (SMU) graduate subsequently founded the company, with the aim of leveraging the power of the consumer and business community to enable more savings for everyone.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_63 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/#How_Swapie_works\" title=\"How Swapie works\">How Swapie works<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/#Challenges_faced_whilst_starting_the_business\" title=\"Challenges faced whilst starting the business\">Challenges faced whilst starting the business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/#An_upcoming_new_business_venture\" title=\"An upcoming new business venture \">An upcoming new business venture <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/#Giving_back_to_society_when_he_was_a_student\" title=\"Giving back to society when he was a student \">Giving back to society when he was a student <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/#Being_both_a_mentor_and_mentee\" title=\"Being both a mentor and mentee\">Being both a mentor and mentee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/butlermag.com\/interview-koh-kang-liang-an-entrepreneur-who-believes-in-giving-back-to-the-society\/#Future_plans_for_the_company\" title=\"Future plans for the company\">Future plans for the company<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"How_Swapie_works\"><\/span><strong>How Swapie works<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This unique business model operates using a &#8220;pay upfront, get cashback&#8221; platform, targeting small and medium-sized enterprises (SMEs) and micro-businesses.<\/p>\n<p>What this means is that the company settles the invoice in full upfront, and gets a 1 to 5 percent rebate. This is made possible as Swapie connects the company to a credit card holder, who makes the purchase on behalf of the company; the card holder then gets to keep the rebates they&#8217;ve earned from the issuers, and gets reimbursed 95 to 99 percent of the invoice amount.<\/p>\n<p>The platform helps both parties to benefit, as the company gets to reduce their business costs by up to 5%, whilst the card holder keeps the cashback they\u2019ve earned.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Challenges_faced_whilst_starting_the_business\"><\/span><strong>Challenges faced whilst starting the business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Building this unique business model was a challenge in its initial stage; having to start everything from scratch was one of the many hurdles Koh had to cross.<\/p>\n<p>Aside from that, dealing with uncertainties such as whether the campaigns ran would take off was of concern for the founder. All these aspects were placed in high importance as they determined his livelihood. To ensure that the company gained traction when it first started, Koh put in vast amounts of effort to make the company known.<\/p>\n<p>His hard work paid off as 10 merchants have come onboard to date, with the company\u2019s gross merchandise value amounting to more than $50,000.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"An_upcoming_new_business_venture\"><\/span><strong>An upcoming new business venture <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With Swapie up and running, Koh thought about other ways to expand his business portfolio. The new concept he thought of was something close to his heart, which is giving back to the society.<\/p>\n<p>Keen to lend a helping hand to those in need during the global pandemic, he came up with the idea of <a href=\"https:\/\/gifting.sg\/\" target=\"_blank\" rel=\"noopener\">Gifting.sg<\/a>.<\/p>\n<p><picture><source srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.webp 1024w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.webp 300w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.webp 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.jpg?resize=1024%2C550&#038;ssl=1\" height=\"550\" width=\"1024\" srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.jpg?w=1024&ssl=1 1024w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.jpg?resize=300%2C161&ssl=1 300w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Gifting.sg-.jpg?resize=768%2C413&ssl=1 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" class=\"alignnone size-full wp-image-24602 sp-no-webp\" alt=\"\" decoding=\"async\"   data-recalc-dims=\"1\"> <\/picture><\/p>\n<p style=\"text-align: center;\">Image: <a href=\"https:\/\/gifting.sg\/\" target=\"_blank\" rel=\"noopener\">Gifting.sg<\/a><\/p>\n<p>Launching in mid-March of 2021, Gifting.sg has a similar concept as Swapie. The difference is that the new business model focuses on providing items to the less privileged.<\/p>\n<p>A joint collaboration between local SMEs and Gifting.sg, the platform works with local SMEs to reduce prices of essential items, so that donors can co-sponsor them at lower rate. Donors\u2019 will then use their credit cards to make payment so that they are able to enjoy the rebates, and the bought items are then gifted to charities or communities in need.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Giving_back_to_society_when_he_was_a_student\"><\/span><strong>Giving back to society when he was a student <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The idea of giving back to the society isn\u2019t something new to Koh, for he had started volunteering since his school days. Aside from helping out at the Chingay Parade in 2014 and 2015, he was also an active participant in SMU\u2019s volunteering activities.<\/p>\n<p>His interest in giving back to the society was further piqued while working as an intern at ShopBack in 2014. It was during this internship stint when the act of selflessness of his colleagues left a deep impression on him. Koh recalls, \u201cThe people [at ShopBack] don\u2019t mind sharing knowledge and giving back. That\u2019s the kind of tribe I want to be with.\u201d<\/p>\n<p>Having benefited from his mentors during his internship stint, Koh was motivated to reciprocate using the same manner. He became interested in the idea of building a community around start-ups while studying at SMU; by doing so, he was able to give back to the society through knowledge sharing with like-minded individuals.<\/p>\n<p>He started conducting networking sessions where he would introduce his friends to people working at start-ups. It was during these sessions where he met other students who shared the same vision as him. Together with a few students from other universities, the group soon formed an initiative called \u2018EDGE&#8217; (Empower, Develop and Groom Entrepreneurs). The aim was to let students gain more exposure to start-ups.<\/p>\n<p>Koh oversaw the events and strategic partnerships portfolios at Edge. Some of the events conducted were workshops and incubator programmes, with the purpose of connecting students with the larger start-up ecosystem.<\/p>\n<p><picture><source srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.webp 1024w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.webp 300w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.webp 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.jpg?resize=1024%2C550&#038;ssl=1\" height=\"550\" width=\"1024\" srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.jpg?w=1024&ssl=1 1024w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.jpg?resize=300%2C161&ssl=1 300w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Sharing.jpg?resize=768%2C413&ssl=1 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" class=\"alignnone size-full wp-image-24603 sp-no-webp\" alt=\"\" decoding=\"async\"   data-recalc-dims=\"1\"> <\/picture><\/p>\n<p style=\"text-align: center;\">Image: Koh Kang Liang<\/p>\n<p>\u201cI think every business owner needs to have the giving mentality, more than the receiving mentality in general. You [can] give your time, share your knowledge and insights [with others],\u201d he comments.<\/p>\n<p><picture><source srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.webp 1024w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.webp 300w,https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.webp 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.jpg?resize=1024%2C550&#038;ssl=1\" height=\"550\" width=\"1024\" srcset=\"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.jpg?w=1024&ssl=1 1024w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.jpg?resize=300%2C161&ssl=1 300w, https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Teach.jpg?resize=768%2C413&ssl=1 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" class=\"alignnone size-full wp-image-24604 sp-no-webp\" alt=\"\" loading=\"lazy\" decoding=\"async\"   data-recalc-dims=\"1\"> <\/picture><\/p>\n<p style=\"text-align: center;\">Image: Koh Kang Liang<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Being_both_a_mentor_and_mentee\"><\/span><strong>Being both a mentor and mentee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As a strong believer of mentorship, Koh understands the importance of coaching those in need. This is due to the fact that he has benefited from it as well.<\/p>\n<p>Being an entrepreneur who just started out, he also seeks advice from mentors who are walking a similar path as him. His mentors go beyond just understanding more about his business, and are also equally interested in his personal growth and development. \u201cMy mentors are people who are personally invested in who I am as a person. So I do share with them every single challenge I face,\u201d he says.<\/p>\n<p>The mentors provide a safety net for Koh, allowing him to share his concerns freely. In addition, they also encourage him to take risks, which he knows is necessary in his learning journey. Koh says, \u201cWithout me taking mini risks and facing mini failures, there is no way I will grow as a person.\u201d<\/p>\n<p>Despite his busy schedule, Koh still finds time to give back to the society while managing his businesses at the same time. Aside from providing mentorship to students at Ngee Ann Polytechnic, Koh is also an entrepreneurship trainer and mentor at the <a href=\"https:\/\/www.socialimpactcatalyst.org\/\" target=\"_blank\" rel=\"noopener\">Social Impact Catalyst<\/a>, where he conducts training sessions for youths who are interested in social entrepreneurship.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Future_plans_for_the_company\"><\/span><strong>Future plans for the company<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As a risk-taker who welcomes challenges, the 29-year-old is excited about the many new developments in the pipeline. He looks forward to expanding his company at a larger scale in the next few years, with the goal of building businesses which can help others in the community.<\/p>\n<p>\u201cWe really want to build platforms which are circled around sharing and helping one another. We want to connect two parties so that they can work together to enable something else, be it to maximise rewards or social impact,\u201d Koh says. The founder has plans to venture overseas in the upcoming years, setting his sights on Hong Kong and Australia as potential markets.<\/p>\n<p>As a parting note, Koh encourages those who are keen to become entrepreneurs to embark on their journeys. He says, \u201cIf you calculate too much, you\u2019re never going to take the risk. Calculate up to 80 percent [of the risk] and go with your gut feel for the remaining 20 percent. Life is an ever-winding journey. Surround yourself with people who are not just interested in your business, but also how you grow and develop as a person as well.\u201d<\/p>\n<p>For readers out there who are credit card holders, join the <a href=\"https:\/\/www.swapie.co\/consumer\" target=\"_blank\" rel=\"noopener\">Swapie<\/a> or <a href=\"https:\/\/gifting.sg\/\" target=\"_blank\" rel=\"noopener\">Gifting.sg<\/a> community now to earn rebates whilst making purchases!<\/p>\n<p><em>Feature image from Koh Kang Liang<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whilst most embark on their career journeys as salarymen, Koh Kang Liang ventured a different path. In 2019, he decided to start his own financial-technology (fintech) start-up, \u2018Swapie\u2019. Image: Swapie It was during a meal with his friends when the inspiration for Swapie struck Koh. Whilst using his credit card to pay for dinner, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[166],"tags":[601,602,603],"jetpack_publicize_connections":[],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/butlermag.com\/wp-content\/uploads\/2021\/03\/Featured-Image.jpg?fit=960%2C1000&ssl=1","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/posts\/24238"}],"collection":[{"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/comments?post=24238"}],"version-history":[{"count":21,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/posts\/24238\/revisions"}],"predecessor-version":[{"id":24798,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/posts\/24238\/revisions\/24798"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/media\/24605"}],"wp:attachment":[{"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/media?parent=24238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/categories?post=24238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/butlermag.com\/wp-json\/wp\/v2\/tags?post=24238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}