Malaysian fintech startup Finology wins Seedstars World Competition

E27 – 21 May 2021

Malaysian fintech startup Finology has been adjudged the global winner of Seedstars World Competition 2021.

Finology enables seamless access to financial products via the use of proprietary technology and digital distribution channels.

The company will receive US$500,000 in equity funding from Seedstars, Switzerland-based VC firm.

Other companies that reached the finals were Fulfillment Bridge (Tunisia), Pegasi (Venezuela), IMAN (Uzbekistan), and Ladda (Nigeria).

The jury comprised Salman T. Jaffrey, CIO of Wa’ed Ventures; Shannon Kalayanamitr, CEO of 5G Catalyst Technologies; and Charlie Graham-Brown.

“Finology showed us a lot of promise in their mission to bridge together financial institutions and individuals by making financial products accessible for everyone. The Seedstars team believes that they will effectively help lead the way forward in the ever-increasing digitisation of the financial sector,” said Seedstars co-founder Alisée de Tonnac.

Launched in 2012, Finology is a platform that enables users access to financial products and services like banking, property and insurance. Its technology has been deployed in four countries and its APIs are used by multiple large companies that include GHL, iProperty, and Tropicana.

“We’re all about using technology to deliver financial services to people in ways that are more meaningful to their lives. We look forward to rolling out more product offerings in Emerging Asia that have been designed around a seamless delivery experience,” said Finology CEO Jared Lim.

Since 2013, Seedstars has organised world startup competition in emerging markets. This year, pandemic forced the event to be hosted online.

Seedstars received around 5,000 applications from 94 countries across Latin America, Africa, the Middle East, Eastern and Central Europe and Asia.

The full event can be accessed here.