RHB Banking Group (“RHB”) and 1337 Ventures have launched the RHB Xcelerator programme, aimed at nurturing tech and startup ecosystems while driving digital adoption in the Malaysian financial scene. The RHB Xcelerator programme has announced 11 finalists that will compete at its first Demo Day.
From sustainability and data intelligence to inheritance planning, the top finalists are solving some of the biggest problems and opportunities in the financial scene today.
“RHB is pleased to witness many innovative startups of high calibre at the pitch event. We are thrilled to be taking things to the next level, especially to future-proof these 11 shortlisted startups which have caught our attention and represent a niche and compelling segment in Malaysia. We believe that there is enormous potential for future collaboration and joint success” said Ryan Teoh, Chief Group Strategy and Innovation Officer, RHB Banking Group.
“The startups in RHB Xcelerator had an incredible opportunity to collaborate with RHB teams across a range of divisions, and we are excited to see the possible outcome that may result from these synergies,” he added.
“This is the beginning of what we hope will be a long and fruitful partnership between startups and corporations. We believe that by fostering these interactions, we can create even better opportunities for innovation and growth in the startup ecosystem,” says Bikesh Lakhmichand, CEO and Founding Partner of 1337 Ventures.
The 11 startups are:
Agiliux is on a mission to digitize and transform the commercial insurance industry by offering software for insurance brokers. This is aimed at improving their internal efficiency and productivity and streamlining their interactions with carriers and re-insurers.
Alfie focuses on alternative data intelligence. They specialize in using Alternative Credit Scoring (ACS) for microfinance. ACS integrates behavioural, digital, and financial data points to predict the credit risk of a borrower.
du-it is an Islamic Fintech providing instalment solution for businesses using the “Buy Now, Pay Later’ business model for the B2B segment.
Moby offers a “buy now, pay later” payment option so customers can have a more affordable shopping experience. There are up to six-month instalment plans and a 0% interest fee.
PayRecon is a top marketplace software provider in Malaysia. They have the vision to make incredible yet high-quality IT items and services to help individuals like small-and medium-sized business proprietors. Using PayRecon’s multi-channel marketplace, sellers could easily manage their businesses on multi-channel marketplaces such as Lazada and Shopee.
Pewarisan, meaning inheritance in Malay, provides digital solutions for Islamic inheritance planning. Their offerings include succession planning and estate management.
Protos Labs is a cyber-insurtech company founded by former Booz Allen cybersecurity leaders; it is the first in Asia to provide full-service support for a cyber insurance product. Protos Labs help insurers to better price their cyber insurance policies while offering active protection of policyholders to prevent cyber incidents.
Swipey supports Malaysian businesses in managing their corporate prepaid cards, expenses, invoices, and more through a simplified dashboard.
Woke Investing mentors successful investors through structured 4-week programmes. The programme is result-oriented and conducted by experienced investors and investment managers. They also provide stock market analysis to inform investing decisions.
TrinityEco provides sustainable reporting products and services for assets, both physical and digital. Their AI-powered platform, Trivity, helps create reports that encourage collaborations and financing between companies and their corporate partners.
Vircle (short for “Visible Circle”) is an app for parents and a card for kids that allows parents to give pocket money and teaches kids to save and spend responsibly.
The 11 finalists are currently designing their proof of concept, assisted by RHB and 1337 Ventures. After completion, the chosen startups may have the chance to work with RHB to advance their proof of concept and at the same time, may receive prospective financial support as well as digital credits from 1337 Ventures.
