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Singapore-based fintech venture capital firm, Life.SREDA, has announced eight startups selected for its InspirAsia accelerator programme.

Each startup that joins the VC fund’s 30-180-day pre-series A accelerator programme, which kicks off in September, will receive between US$50,000 and US$500,000 in funding, depending on the stage of the startup, in return for five to 15 per cent equity, besides US$250,000 in support services. At the end of the programme, the fund can decide on additional funding or bridge fundraising from other VCs from its network.

InspirAsia is Life.SREDA’s in-house growth-stage programme with an emphasis of combining Internet of Things (IoT) and DeepTech (related to machine learning and Artificial Intelligence) with fintech. It is focussing on post-seed and early Series-A stage startups from Asian countries.

The startups selected for the inaugural batch are the ones that in some way developed fintech solutions specifically targetted at, but not limited to mobile payments, peer-to-peer (P2P) transfers, remittances, mobile Point of Sale (mPOS) and online acquiring, online lending, scoring, P2P lending, mobile banks, e-wallets, payment services for restaurants and cafes, mobile cash registers for retailers.

The final number of the startups attending the programme has not been confirmed, but is expected to be around 10-15.

Here is the list of eight startups:

Softpay (Vietnam)

Softpay’s mPOS solution enables businesses and individuals to accept credit cards (Visa, MasterCard, JCB, Amex, China UnionPay), debit cards, bank cards, loyalty cards and all other kinds of card payments anywhere at anytime.

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Mobikon (Singapore)

A customer engagement and marketing platform for restaurants.

Rev (Malaysia)

A tablet-based POS to offer restaurant patrons more self-service options.

StoreHub (Malaysia)

StoreHub is an IoT-based POS, inventory and customer relationship management (CRM) startup.

HotTab (Vietnam)

HotTab builds POS technology for retailers lacking more traditional POS technology.

Ayannah (Philippines)

Ayannah is a provider of remittance services. The company focusses on providing basic banking and transactional services to the world’s ‘unbanked, people living in developing countries that lack a bank account and proper banking infrastructure.

HomePay (Singapore)

HomePay is a mobile app that helps you manage money in your household and allows your kids, domestic helper or other dependents to spend money responsibly using HomePay MasterCard Prepaid cards.

TIDE (Malaysia)

An online Big Data analytics solution combining traditional CRM software with IoT to deliver deeper insights into customer behaviour.

“Today most acceleration programmes around the globe focus mainly on young teams helping them kick off their ideas. But there are very few mentorship programmes designed for series A startups that are already mature, yet still looking for experts’ input to improve their business,” said Vladislav Solodkiy, managing partner at Life.SREDA.

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“InspirAsia offers a programme built to bring these companies wise mentorship, global overview, international networking and an opportunity to explore new markets. We also provide them with PR and media coverage to get new clients; but most importantly we help them package their business to attract money from large strategic investors, selling their business, or going public in the future,” he added.

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