● Startups are focusing on various financial pain points such as digital financial fraud and financial access and operations for micro businesses.
● Startups to receive mentorship from senior management in key areas such as navigating regulatory compliance, market entry, and scaling the business for growth
GXBank and Grab Malaysia recently announced the inaugural top eight fintech startups shortlisted to be part of the six-month long TeXnovasi Accelerator Programme. Supported by Cradle, MYStartup and 1337 Ventures, TeXnovasi aims to empower local fintech startups through mentorship and resources towards building a tech-driven, financially empowered nation, and position Malaysia as a key player in revolutionising the digital finance landscape.
The eight shortlisted startups are Cashku, Du-it, Enprivacy, FinDoctor.my, Finory.tech, Kapitani, PluseLink and Swipey. Each startup focuses on different aspects of financial inclusion such as protection and detection of digital fraud and scams, and helping MSME improve financial access and operations through a sustainable social protection/assistance structure that encourages MSME to thrive.
Welcoming the startups to the GXBank family, Fadrizul Hasani, Chief Technology Officer of GXBank shared that these startups were selected based on their potential innovation to solve three areas crucial to Malaysia’s financial landscape.
- Accessibility: Providing financial access for underserved communities and MSMEs by addressing challenges such as limited infrastructure, low financial literacy, banking mistrust, and lack of documentation.
- Security: Strengthening digital fraud detection, cybersecurity, and social protection for underserved communities.
- Experience: Elevating customer satisfaction with personalised, efficient solutions.
Hasani elaborated, “Our nation’s startup ecosystem is brimming with potential especially in the fintech space. However many often face obstacles when trying to scale such as regulations, balancing the complexity of data, tech and compliance, and also lack of funding. I am cognisant of the support we received in our early years, and even today, as a pioneering digital-only bank. Having the right guidance has helped shape my path as well as the organisation’s. While GXBank aims to address Malaysia’s financial inclusion and resilience through technology-driven solutions, together with Grab Malaysia, we want to nurture these like-minded innovators to solve financial challenges of Malaysians. This is part of both Grab Malaysia and GXBank’s commitment to nurturing our entrepreneurial ecosystem and drive meaningful impact to help Malaysia become a thriving tech hub.”
The eight startups will benefit from personalised mentorship and one-on-one guidance from subject matter experts in Grab Malaysia and GXBank, including Hassan Alsagoff, Regional Head of Loyalty and Marketing at Grab; Hildah Hamzah, Chief Operating Officer; Prassana Rao, Chief Commercial Officer – SME, and Ashish Gaurav, Head of Cards.
Bikesh Lakhmichand, Chief Executive Officer of 1337 Ventures who are facilitating the TeXnovasi Accelator Programme, shared that the mentoring sessions will help them develop necessary skills and knowledge to hopefully scale their business within Malaysia’s financial sector. “Exclusive workshops will cover key areas such as market entry, innovation, and scaling, providing startups with the essential tools for growth. They will also gain access to a vast network of public and private investors, corporate partners, and experienced professionals, fostering opportunities for accelerated success.” Echoing Hasani, Lakhmichand hopes programmes such as these will help develop more dynamic and robust homegrown startups.
About the Top 8 Startups
- CashKu – A digital financial planning app offering financial advice, management & investment.
- Du-it – A vendor-distributor platform streamlining invoice, credit, and payment management.
- Enprivacy – A B2B SaaS platform tackling data privacy risks when using public LLMs & AI.
- Finory.tech – Leveraging proprietary statement-parsing technology to extract, categorise, and analyse data.
- Kapitani – A digital farm management platform helping farmers optimise operations & market access.
- FinDoctor.my – AI-powered loan screening & credit advisory for individuals & businesses.
- PulseLink – Salary advancement, insurance & payroll management to boost financial flexibility.
- Swipey – A CFO Tech platform unifying FinOps & banking for SMEs with automation & AI insights.
