10 fintech startups selected for Startupbootcamp’s first Singapore programme
By Digital News Asia April 20, 2015
- Partners include DBS, MasterCard, IIPL and Monetary Authority of Singapore
- Combined, teams have raised more than US$1.9mil, 30% already generating revenue
FINANCIAL services technology (fintech) accelerator Startupbootcamp FinTech has announced that 10 international startups have been selected to join its inaugural Singapore programme.
The finalists, which include teams from across Asia Pacific and Europe, were chosen by a panel of industry experts including representatives from Startupbootcamp partners DBS, MasterCard and Infocomm Investments Pte Ltd (IIPL).
All teams combined have raised more than S$2.5 million (US$1.9 million) and 30% of the chosen startups are already generating revenue, Startupbootcamp FinTech said in a statement.
The 10 teams reflect important trends in fintech, including blockchain technologies, financial inclusion and wealth management, which are all relevant areas for consumers and businesses in South-East Asia, it added.
“During the Startupbootcamp FinTech selection days, I saw some promising fintech teams from across Asia Pacific and Europe working on exciting innovations such as finding new ways to serve the under-banked community in various countries,” said IIPL chairman Steve Leonard.
“Startupbootcamp FinTech has built a professional pool of entrepreneurs, investors and corporate partners in Singapore over the past few months to provide mentorship for the 10 selected startup teams,” he added.
IIPL is the venture capital arm of the Infocomm Development Authority of Singapore (IDA).
From May, the successful startups will benefit from extensive mentorship from more than 100 entrepreneurs, investors and corporate partners, helping to guide the companies with go-to-market strategies, product development and scaling across South-East Asia.
As well as access to mentorship, each team will receive S$24,500 (US$18,160) and four months’ free office space at the Startupbootcamp FinTech hub in Singapore, Block 79.
Partnerships with DBS, MasterCard, Route 66 Ventures, SBT Venture Capital, the Monetary Autority of Singapore and IIPL will also provide the Startupbootcamp FinTech finalists with access to pilot customers, industry data, APIs (application programming interfaces) and capital, Startupbootcamp FinTech said.
After three months of acceleration, the 10 teams will be invited to present their companies to more than 200 investors, mentors and partners during Demo Day, it added.
“Since the beginning of the year, we have scoured Asia Pacific and the globe for the most fascinating, innovative and promising fintech startups,” said Startupbootcamp FinTech global chief operating officer Markus Gnirck.
“With 300 applications, it shows that fintech in Asia is on the rise to tackle local problems with the potential for global scale.
“We have met close to 200 startups, visited 12 financial hubs across Asia Pacific and beyond, so we feel confident that the 10 teams selected showcase the very best that financial services and technology has to offer,” he added.
The 10 teams selected to join the 2015 Startupbootcamp FinTech Singapore programme are:
Bankguard: Conducts research and development on how to resolve illegal remittances. Its first product, the ‘Super Matrix,’ is a next-generation security system to prevent against illegal access and transaction authentication, man-in-the-middle-attacks.
Bw8 Trading: Says it’s out to disrupt the wealth management industry by making share trading easy. It is a ‘Social Trading Network’ that connects non-professional investors with expert traders. Once simple analytical tools are used to identify an expert top trader, actions/ trades are automatically copied.
Creditseva: An online consumer platform to analyse and manage credit reports and scores. Creditseva allows users to connect with banks online to obtain best-discounted offers to close bad loans and obtain new loan offers based on credit score. Creditseva also helps to improve collections for the banks and get quality leads based on credit data.
CryptoSigma: An online and iOS-based money transfer app that allows users to send money instantly, anywhere in the world, for less than 0.5% in fees; without using the Swift banking network. By using the blockchain, Cryptosigma enables its users to turn their laptop or smartphone into a personal banking terminal.
DeBuNe: A secure online environment that lets small and medium businesses collaborate, market, offer and monetise their expertise or products. Using the NTX blockchain, a second-generation crypto-platform, DeBuNe does away with limitations imposed by currencies and enables trusted transactions.
Dragon Wealth: Offers a way for wealth managers to increase sales and acquire more investors through an integration-free platform and mobile app. The technology manages investor communication and marketing, tailoring it to an investor’s portfolio and interests, and claims to cut down new client acquisition to a single click.
Kashmi: An Asia-focused peer-to-peer mobile payment solution operating through a simple, free and unrestricted network with embedded social media functions. It helps to overcome the inability of young people to exchange cash or credit instantaneously, and without restrictions.
KyePot: Claims to empower individuals in emerging markets to save, lend and borrow in trusted social groups. KyePot’s mobile platform enables users to create their own social savings group and leverage the power of the group to borrow at a low cost compared to other asset classes.
Otonomos: Lets you form, fund and govern the world’s first Blockchain Chartered Company (BCC), a company whose shares are coded onto the blockchain and transferable with the same ease as making a Bitcoin payment. This peer-to-peer transfer makes it easy for you to let new investors in, or pay key collaborators in equity.
SkolaFund: Aims to be the biggest education financing platform in Asia. SkolaFund harnesses the combined powers of crowdfunding, scholarships, bursaries and education loans in making education affordable for students across Asia.
Startups are still able to apply for the Startupbootcamp FinTech London Accelerator Programme, click here for more information. Applications for Startupbootcamp FinTech London will remain open until June 21, 2015.
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