Startupbootcamp FinTech Singapore finishes Asia’s first ever Demo Tour!

Startupbootcamp FinTech Singapore finishes Asia’s first ever Demo Tour!

18-Jul-2017

Startupbootcamp FinTech held Singapore, China, Hong Kong and Tokyo Demo Days for top 11 FinTech startups!

Tokyo, 17 July 2017 – Startupbootcamp FinTech Singapore, the leading global accelerator focusing on financial innovation, hosted its Demo Tour over the last 2 weeks. Hosting 4 events across Asia in, Singapore, China, Hong Kong and Tokyo, attendees heard pitches from the top 11 FinTech teams selected out of more than 500 applications across Asia-Pacific earlier this year.

Attracting more than 500 guests from across the financial sector, including leading investors, financial institutions, partners and mentors from across the world, startups from this year’s cohort tackle areas of focus from InsurTech and wealth management to e-commerce and personal finance management.

The 11 startups went through an intense 3-month accelerator program with access to extensive mentorship from 400+ entrepreneurs, investors and corporate partners, who helped guide them through distinct ‘Shape’, ‘Build’ and ‘Sell’ stages of their startups’ development. Demo Day is designed to showcase the startups’ ventures on centre stage with the objective of attracting strategic partnerships and investments.

Partnerships

The 2017 cohort of startups have secured more than 70 pilots, clients and key partnerships, with hundreds more in the pipeline.

  • Morakot, a specialized software development startup focusing on financial software, among its 25 clients, has already partnered with two NGOs: Sloek Meas Khmer and CVCD (Cambodian Volunteer for Community Development).
  • Jumper.ai has closed more than 10 partners, with the likes of UniQlo, Unilever and Volvo transacting everything from test drives to payments through their automated one stop social platform.
  • Vesl after coming to the program with just an idea, will be launching their pilot with a leading alternative trade financier, a insurer and an agricultural trading house, later this month.
  • Scalend, has closed 7 clients from leading banks and FI’s across the world.

Numerous future partnerships are in talks between Startupbootcamp FinTech Singapore’s corporate backing partners and the 2017 cohort. This is after Startupbootcamp FinTech has grown its corporate partners from 9 to 11 in the 2016 programme and further deepening its networking’s across APAC.

Other notable achievements:

  • AIM – Announced today that after opening their beta near the beginning of the program for just 100 users, they have accumulated more than USD$1 Million AUM.
  • With 27,000 monthly active users, CherryPay, A P2P remittance platform, has transacted more than US$10 Million in cross border payments between China and Taiwan.
  • Smartfolios, after closing Marvelstone as a client in mid 2017, they are in the final stages of discussions with some of the leading Asian and European Banks!

Below are the 11 teams that showcased throughout the Demo Tour:

AIM (South Korea):

Automated Investment Service, a mobile first advisor with a top-notch investment algorithm that is built to scale across borders

CherryPay (Taiwan):

An International P2P money transfer matching platform at your fingertips – Convenient and within the hour.

Fugle (Taiwan):

The tailor-made intelligent brokerage solution to serve and engage retail investors.

Jumper.ai (India)

Enabling businesses to auto-engage and create instant checkout experiences on social media.

Morakot (Cambodia):

Simple and Reliable core-banking system for Microfinance Institutions and Banks

Scalend (India):

AI-enabled Data Discovery and Insights Platform for Financial Services Companies

Smallticket (South Korea):

Online social insurance broker rewarding micro-segment groups

Smartfolios (Singapore):

Digital advisory and investment solutions for financial institutions.

SmartTrade (Japan):

Kicking off a new era of AI-Quant Trading through disruptive innovation on our open platform

Tixguru (Taiwan):

Bringing the best trading experience to you by offering quant platform & AI robot advisor.

Vesl (Philippines):

Bite-sized insurance for trade and finance.

The SBC startup showcase began in Singapore hosting their flagship demo day at LATTICE80 – The largest FinTech Co-Working space in the world. This demo day, on their home ground, was once again a key event for the FinTech Community, hosting majority of the leading banks, FI’s and partners from Singapore and beyond.

The cohort next showed in Chengdu, China on the 7th of July, hosted by Chengdu High Tech Zone and ThinkZone (One of the programs partners), this demo day brought connections that will help the startups with their continued launch into Chinese markets.

Due to overwhelming support from InvestHK and other community partners, Startup moved to Hong Kong for their third Demo Day, due to the overlap with RISE conference crowds came from all over Asia and the world to meet these 11 startups.

Tokyo, on the 14th to wrap up their tour, was a highlight. With support from Finolab and NTTData,  SBC hosted 2 demo days, of which one was for NTTData and their VIP’s and one for the larger finance community. The turnout and support for industry innovation and collaboration they saw from Tokyo was astounding!

The Odyssey themed tour was the first of its kind in Asia. It highlighted the startups specifically for vetted and highly relevant investors and financial institutions, while also enabling collaboration and fundraising opportunities. Startupbootcamp, having run hundreds of demo days across the world, realised Asia was the optimal location to run their first demo tour, selecting key locations and key decision makers across pinnacle locations within Asia.

Samuel Hall, Program Director, Startupbootcamp Fintech Singapore said: “Our 2017 cohort is a great representation of FinTech across Asia. Whilst they come from countries as diverse as India, Cambodia and South Korea, all of the companies are linked not just by their desire to grow across the region, but by their readiness to do so. With that in mind, and given our responsibility to support their growth, this year we departed from the traditional Demo Day format in favour of a regional tour. Our objective with this group of startups was to give them as much exposure as possible to banks, brokers and the investors that can support their continued development and growth. To do that effectively, we needed to go where these people are. The tour was an adventure for all of us, but its objective and necessity is clear: the startups’ products and platforms are built; their value is apparent; what these companies need to do now is sell, collaborate and fundraise. The 4-stop Demo Tour gave them the best chance to maximise their businesses.”

Future of FinTech

In 2016, a total of USD $23.5bn was invested in FinTech worldwide, with Asia Pacific receiving more than half of the funding. The two Asian countries to have received the most funding are China and India. China is growing into a hub for FinTech, as evidenced by the 4 biggest FinTech Unicorns in the world based in China. Demonstrated by its largest ever demonetization exercise in November 2016, India has turned to digital transactions by individually unique mobile wallets. Clearly great opportunities exist in Fintech, and the financial and intellectual support for the sector is present today. The 2017 cohort of startups meets today’s growing demand for Fintech solutions, solving needs by offering enhanced accessibility, convenience, and tailored products.

 

For more information and about the event, please check: sbcdemoday.net