Finalists of the first RHB Xcelerator 2023 announced
By Digital News Asia April 7, 2023
- Inaugural programme began in January 2023
- 11 finalists will compete in first Demo Day at end May
The RHB Xcelerator programme has announced 11 finalists that will compete at its first Demo Day, a closed door event what will happen at the end of May. The programme is the result of a collaboration between RHB Banking Group and 1337 Ventures.
Each startup will will be showcasing their proof of concept (POC) which they will be developing with different RHB and 1337 Ventures teams. Currently each startup is in a different stage with some already started work on developing their POC.
From sustainability and data intelligence to inheritance planning, the top finalists are trying to solve some of the biggest issues in the financial scene today.
"We are thrilled to be taking things to the next level, especially to future-proof these 11 shortlisted startups which have caught our attention and represent a niche and compelling segment in Malaysia," said Ryan Teoh, Chief Group Strategy and Innovation Officer of RHB Banking Group.
“This is the beginning of what we hope will be a long and fruitful partnership between startups and corporations,” says Bikesh Lakhmichand, CEO and Founding Partner of 1337 Ventures.
The 11 startups are:
Agiliux Cloud Insurance
Software for insurance brokers to improve internal efficiency and productivity and streamline interactions with carriers and re-insurers.
Alfie Tech Asia
Using Alternative Credit Scoring (ACS) for microfinance. ACS integrates behavioural, digital, and financial data points to predict the credit risk of a borrower.
Currently in its fundrasing phase, it is probably the world's first shariah compliant BNPL for B2B.
A "buy now, pay later" with up to six-month instalment plans and a 0% interest fee.
A multi-channel marketplace software provider that helps small and medium-sized business proprietors manage their businesses on multi-channel marketplaces such as Lazada and Shopee.
Digital solutions for Islamic inheritance planning including succession planning and estate management.
The first in Asia to provide full-service support for a cyber insurance product. It helps insurers better price their cyber insurance policies while offering active protection of policyholders to prevent cyber incidents.
Helps businesses manage corporate prepaid cards, expenses, invoices, and more through a simplified dashboard.
The Woke Company
Mentors investors through structured 4-week programmes conducted by experienced investors and investment managers. They also provide stock market analysis to inform investing decisions.
Provides sustainable reporting products and services for assets, both physical and digital. Their AI-powered platform, Trivity, helps create reports that encourage collaborations and financing.
Short for Visible Circle is an app for parents and a card for kids that allows parents to give pocket money and teaches kids to save and spend responsibly.
After completion, the chosen startups may have the chance to work with RHB to advance their POC and at the same time, may receive financial support as well as digital credits from 1337 Ventures.
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