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BUSINESS

Finology wnis Seedstars World 2020/2021 competition

23/05/2021 03:14 PM

KUALA LUMPUR, May 23 -- Malaysian fintech Finology was crowned winner of the Seedstars World 2020/2021 Competition, the Malaysian Technology Development Corporation (MTDC) said.

Representing Asia, the company was up against the top companies from four other regions -- Africa, Central and Eastern Europe (CEE), Middle East and North Africa (MENA), and Latin America (LATAM).

The contestants were judged based on their products’ traction, scalability, profitability, and defensibility, it said.

Finology chief executive officer and co-founder Robin Ang said the company aims at continuing to improve its technology to create more efficiency in obtaining financial products while serving the underbanked and under-insured segments.

Meanwhile, Finology co-founder Jared Lim said: “As pioneers in our region, our work is not very visible to people outside the industry and can feel thankless at times.

“We are humbled to have shared the stage with some of the most promising companies in the world. This validates our belief that we are providing a valuable service to society, and are on the right path towards building a great company,” he said.

Seedstars, a Swiss-based investment holding with a mission to impact people’s lives in emerging markets, annually holds the Seedstars World Competition to scout for the most promising startups in the Asian, African, CEE, MENA and LATAM regions.

After a nine-month journey that included classroom sessions, mentoring sessions, and multiple rounds of pitching before a diverse panel of judges, the competition has finally ended.

Established in 2017, Finology currently serves clients in Malaysia, Cambodia, Nepal, Pakistan, and Indonesia to continue its effort in pushing financial inclusion by improving the way financial institutions and insurers do business.

Aside from its digital broking technology, the company currently also owns and operates loanstreet.com.my, a Malaysian personal finance website and product aggregator.

To know more about Finology, visit www.finology.com.my

-- BERNAMA

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