As a part of drawing the FinTech scene in ASEAN, FinTechnews collects, tracks and analyzes hundreds of FinTech Startups, established over the last two decades. While the sector in Malaysia is relatively nascent and, we’ve seen some bright starts emerging from the local fintech scene and many more fintech startups in Malaysia being incorporated
Below are our pick of the top 12 fintech startups in Malaysia for 2017. If you’re interested to know why we selected them click here
Capital Bay helps corporations optimise their working capital and provide businesses real-time technology to collaborate with a wider network of financial institutions to access financing opportunities. They were among the 5 startups selected for Hong Leong Bank’s inaugural Launchpad programme.
Seed Round – 470k USD ( 2 Million MYR) KK Fund
Founded in 2015 and headquartered in Kuala Lumpur, HelloGold blends gold trading with blockchain technologies. Its app allows for customers to buy and sell physical gold for a minimum price of RM 1. In 2017, Hello Gold was one of the 8 startups out 400 startups across 44 countries selected to be select under the UOB FinLab fintech accelerator programmes.
ICO – USD 4 Million
Founded in 2013 Katsana develops connected car technologies for usage based insurance and to reduce motor claims using behaviour data. The company has analysed over 400 million kilometres of driving behaviour and recovered 96% of the vehicles that are stolen.
890k USD – Axiata Digital Innovation Fund
MHub is real-estate fintech platform for property developers, agents and bankers to connect, communicate and collaborate towards faster, higher conversion. It enables a digital showroom, credit check and loan tracking.
MoneyMatch is one of the four fintech companies approved under the Bank Negara Malaysia Sandbox. The company provides peer to peer currency exchange and cross border remittance which are both powered by a one-time e-KYC verification.
- Pre Seed from WTF Accelerator – 18,000 USD
- Seed from Kosciuszko Holdings – 150,000 USD
- Pre Series A Funding – Undisclosed Amount lead by angel invest Azran Osman Rani, CEO iflix
Founded in 2016 MyCash is an E-Marketplace for migrants that enables migrants to top-up their mobile phones, purchase bus tickets and make bill payments. Recently MyCash Online won the Best Social Impact Startup at the Malaysian Rice Bowl Awards.
Series A Funding -30ok USD (MYR 1.3 Million) through funding round lead by Cradle Fund on ECF platform pitchIN
Neuroware helps organisations future proof themselves by defining new opportunities by adoption blockchain technologies. They have worked with organisations such as Maybank, Bank Negara Malaysia, & Securities Commission Malaysia.
Founded in 2017, PolicyStreet sells a wide range of curated and simple insurance policies. It offers insurances products for common consumer needs such as travel, dental and personal accidents as well as niche ones such as musical instruments, photography gear and pets.
Seed Fund from KK Fund- 500,000 USD
pitchIN is one of the 6 crowdfunding platform approved under the Securities Commission of Malaysia in 2015. In this two years they have helped local startups like BabyDash, Wobb, Kakitangan.com, MyCash Online raise fund for their businesses totaling up to over 2.8 Million USD.
PrimeKeeper is a fintech startup with two core services.Prime ID which is a digital identity that is intended to be used for any formal applications that requires legal identification such loan applications, insurance applications and more. PrimePay enables CASA to CASA payments whether to businesses or individuals.
As-Sidq™ is an Islamic Financial Tawarruq (Fund-raising) Trading Platform adopted by 20 financial institutions in Malaysia
Acquisition by Sedania Innovator – 2.8 Million USD ( 12 million MYR)
Soft Space is a digital payments company that focuses on the development of solutions for the e banking and payment industry. Soft Space is considered as one of the first companies to successfully introduce mPOS to the market. The company has more than 17 banking clients in 10 countries.
Series A from transcosmos Inc – 5,000,000 USD
Do you agree with our pick the top 12 fintech startups in Malaysia? Let us know in the comments below. If you’re interested to know why we selected these companies click here