With Echelon Asia Summit 2015 right around the corner (June 23-24), we bring you a sneak preview of nine fin-tech startups we think you should know about, that made it through the regional qualifiers to our annual flagship event in Singapore.
Whether you’re a startup founder, investor or just a visitor basking in the ambience, fin-tech is a seriously hot area in the global startup ecosystem this year. So, without further adieu, let’s check out these nine disruptive players hand-picked by our judges.
This Kazakhstan-based startup, still down as “coming soon” on the website, is in the financial comparison space. Viborbanka will help consumers compare things: from mortgages to consumer credit, car loans, credit cards, deposits and more.
With the website currently still only available in Russian, details are slim at this point — but if our judges put this startup through to the finals, they must be onto something good. Look out for more from them at Echelon Asia Summit 2015.
Already claiming over 23,000 customers, Kazakhstan-based Kredit24 wants to give its users a loan in just five minutes. With a slider for the amount you want to borrow, and a second slider for the period of time before paying it off (up to 30 days), Kredit24 then completes the process via a simple SMS contract.
Kuala Lumpur-based AdCoin, with offices also in Los Angeles and San Fransisco, claims to be “the only ad technology that enables cashless micro-transactions and verified measurable brand messaging through positive digital engagements.”
AdCoin offers services for advertisers, publishers and consumers. On the advertiser side, it helps increase brand recall by up to five times compared to standard banner ads, and “10 times in Brand Lift compared to Comscore benchmarks.” For publishers, it allows them to “monetise the 54 per cent of users who are not willing to pay for content online”. Consumers, meanwhile, benefit from an “alternative payment method, which works without you having to give up personal data”.
Need extra cash? Philippines-based PawnHero lets you pawn your items online in minutes, including getting estimates. The startup claims to undercut traditional pawnshops in the country by half (around three per cent monthly interest rate versus six per cent).
Here’s how it works, according to the PawnHero website: 1) POST – Take a photo and describe the item(s) you want to pawn so our expert team can review your request. Get a free estimate in minutes. Accept to schedule a pick-up via 2GO for free; 2) GET CASH – once your item(s) are received and fully appraised, we will instantly deposit your cash to your PawnHero Card or chosen payment method; 3) PAY LOAN – when you repay your loan, we will ship back your item(s), again fully insured and for free.
We wrote about how Singapore-based WeInvest was making wealth management simple a few months ago. Now the fin-tech startup will be strutting its stuff at Echelon Asia Summit 2015 after making it through as a finalist.
With partners like DBS Bank, OCBC Bank, Citibank, Standard Chartered and ANZ on board, WeInvest is not messing around. With options from restricted funds, to mutual funds, real estate and deposits, the startup describes itself as using “technology to identify the best investment ideas and products available and present them to you in an easy-to-understand format”.
This Singapore-based fin-tech startup won one of our hotly-contested Judges’ Choice awards. Put simply, it claims to offer cost-effective payment and risk management solutions regardless of business size. Jewel Paymentech offers “technology that gives you control over the management of security, fraud and credit risk”.
Its knowledge in the payments industry allows it to also offer professional services such as migration to chip and pin. Meanwhile, its JP Research Labs is a “technology incubator for the electronic payments industry”.
Onelyst is a Singapore-based startup that offers a financial comparison between moneylenders, and across a whole range of needs (i.e. are you looking for a car loan, for example, or a loan to help with rental expenses?). After completing a loan request, the user will receive up to 10 personalised loans for comparison. They can then accept the offer of their choosing, or reject them all.
In the startup’s own words, “Onelyst gives you the power to make better loan decisions. This service is completely free and there is no obligation. [It] works with licensed moneylenders and ensure they honour their offers. All additional fees are stated clearly on your offer. You get what you accept. You can compare loan offers from our participating moneylenders in Singapore within few simple clicks. Stay in control of your search for the best rates and save money”.
Singapore-based Capital Match is a P2P lending platform offering short-term business financing for SMEs, with loan amounts ranging from around US$40,000 to US$150,000 for a duration of three to 12 months. On the investor side, it claims to offer net returns between 1.2 per cent and two per cent per month.
“Capital Match was established in 2014 with a mission to “build a better financial world” by creating a more inclusive channel for companies to access debt financing and for investors to generate strong fixed-income returns,” the startup says on its website.
9. FLOW ACCOUNT
Winning Judges’ Choice in the Thailand qualifiers, FLOW ACCOUNT offers a cloud accounting solution for small businesses in Thailand, allowing them to create and send professional invoices, track payments and collaborate with partners for free.
Beyond this, the startup says its solution “also comes with powerful management tools like monthly sales reports and a dashboard to help you better manage your small business”. The free account offers unlimited client management and access for up to three staff.
Interested to learn how you can shape the financial technology landscape in Asia? Join us at Echelon Asia Summit this 23-24 June for an exciting panel on FinTech in Asia, and a fireside chat on Peer to Peer Lending in the region. Check out the agenda here!
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