The Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in the digital economy, in collaboration with ASEAN Fintech Group (AFG), today announced a strategic partnership to enhance initiatives aimed at scaling up Malaysian fintech companies.
Their collaborative efforts will focus on three key areas, namely deal flows, fintech ecosystem support and joint amplification.
MDEC will curate deal flows and funnel potential Malaysian fintech companies to AFG. AFG, through its regional network, will explore funding facilitation opportunities for Malaysian Technology companies, especially Fintech start-ups, for potential investment and acquisition.
AFG is no stranger to the fintech world as they are a venture corporation led by former founders/operators or C-suites of successful technology companies.
Founded in 2017, AFG aims to create accretive value by digitising money and commerce flow across one of the fastest-growing fintech geo-markets in Asia.
By building an Integrated Fintech Value Chain through innovation, network and scale across four verticals; Payments, Lending / BNPL, Insurtech and Digital Wealth Management, AFG increases interoperability of its current and future businesses.
“We are excited to announce this collaboration with AFG as we strive forward with initiatives to enhance and scale-up Malaysian fintech companies. Working closely with fintech ecosystem partners, we are optimistic that the partnership will create more opportunities for these companies in advancing their business with access to regional markets and funding,” said Mahadhir Aziz, CEO, MDEC.
This synergistic partnership with MDEC will provide an opportunity for the AFG to propel start-ups and add value to the robust Malaysian fintech network through efficient capital provision, tech, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies.
“Malaysia presents a conducive investment environment, backed by an abundance of talents and infrastructure and a thriving start-up ecosystem filled with high-potential ideas, products and services. We have a number of Malaysian Fintech Companies who form parts of our network who have not only seen growth but are in the midst of going regional through the AFG’s support,” said Lau Kin Wai, Executive Director, ASEAN Fintech Group. “We see great potential in MDEC’s programmes which is why we have chosen Malaysia as our preferred hub to expand into the ASEAN region.”
Among the Malaysian fintech companies currently under AFG’s roster includes Fatberry.com Malaysia’s leading Insurtech Platform and BetterPay, a Payment Service Platform.
Fatberry.com provides accessible and affordable insurance plans to Malaysians powered by AI data analytics. With over 250,000 visitors visiting Fatberry.com’s monthly, Fatberry.com users receive tailor-made solutions for their insurance needs anytime, anywhere.
BetterPay (formerly known as QlicknPay) is a registered Payment Service Platform working in partnership with leading banks to help digitizing businesses through advance an payment technology linked with core banking products.
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