PayPal Singapore has recently unveiled the three winning startups to be part of PayPal’s inaugural incubation programme in Singapore, following an intensive pitching process held on 2 June 2016.
The global online payments company has launched its first startup incubation program in Singapore following a Pitch Fest that was organised to select the fintech startups.
The nine-month programme aims to develop and nurture the next generation of fintech startups, and offers numerous opportunities including coaching and mentorship by PayPal executives and various subject matter experts; networking opportunities through PayPal’s network and venture capital connections; as well as a conducive co-working space which promotes collaboration and innovation.
The three winning startups at PayPal Incubator are:
ONEPAY connects blockchain technology to real-world financial services, allowing anyone with a smartphone to gain access to financial services with only a fraction the cost of traditional infrastructure. ONEPAY makes sending and spending money (and cryptocurrencies) free around the world.
Users can make payments to nine million merchants around the world through NFC-enabled credit card terminals without incurring foreign exchange fee. ONEPAY is powered by Bitcoin and blockchain technology and aims to bring Bitcoin mainstream. The ONEPAY team are Toby Hoenisch (CEO), Michael Sperk (CTO), and Paul K. (CXO).
Prosecure is a finTech startup aimed at creating a worry free shopping experience for online shoppers and e-commerce companies. Prosecure’s first launch product is to provide merchants on Asia’s e-commerce platforms with Free Returns Shipping to cover costs related to the reverse logistics operations. The Prosecure team are Wei Zhu (Co-Founder / Technology) and Ming (Co-Founder / Business and Partnerships).
InvoiceInterchange is a peer-to-peer invoice trading marketplace, providing working capital solutions to fund business growth. InvoiceInterchange exists to provide SMEs a new and innovative alternative to traditional financing, giving businesses control and flexibility to manage their cash flow by auctioning unpaid invoices to investors, whilst the marketplace drives competitive pricing and lowers the cost of capital for SMEs. The InvoiceInterchange team are Brian Teng (CEO) and Nalinee Chinowuthichai (COO/CTO).