- Strategic partnership to help fintech companies access potential funding facilitation through investment and acquisition
- Malaysia chosen as a preferred hub for AFG to expand into the ASEAN region
CYBERJAYA, 26 JANUARY 2022: 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.
“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,” said Lau Kin Wai, Executive Director, ASEAN Fintech Group
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.
About Malaysia Digital Economy Corporation (MDEC)
Malaysia Digital Economy Corporation (MDEC) is the agency under the Ministry of Communications and Multimedia Malaysia leading the digital transformation of the economy for 25 years. We aim to enable a progressive, innovation-led digital economy.
MDEC will continue to lead Malaysia’s digital economy forward towards becoming a globally competitive digital nation, anchored on innovation, sustainability and shared prosperity, firmly establishing Malaysia as the digital hub of ASEAN.
About ASEAN Fintech Group
AFG was founded in 2017 with a thesis to create accretive value by digitising money and commerce flow across one of the fastest growing fintech geo-markets in Asia. We bring you the next-gen expertise of former founders, serial entrepreneurs and operators from some of Asia’s most successful technology companies.
AFG is building an Integrated Fintech Value Chain through innovation, network and scale across four verticals: Payments, Lending / BNPL, Insurtech and Digital Wealth Management. With ready ASEAN financial licenses and quick market access to the top 1000 companies in ASEAN, AFG increases interoperability of its current and future fintech businesses through efficient capital provision, tech, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies
For more information, visit us at www.aseanfintechgroup.com
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