Finology, a Malaysian fintech that specialises in enabling seamless lending and insurance for consumers and businesses, announced that it has won the regional finals to represent Asia at the Seedstars World Competition 2020/21.
From over 5,000 applicants, 94 startups from emerging markets were selected to advance to the regional stage of the competition.
Moving forward, only 20 were selected to the regional finals for a chance to secure a spot at the grand finale, the final round of competition.
The evaluation made was based on brand value, traction, profitability, scalability and market maturity.
Representing Asia, Finology is now set to compete against the winners from four other regions for the title of global winner of the online Seedstars World Competition 2020/21 and the prize of up to US$ 500,000 in equity investment.
Moving forward, Finology plans to expand its market reach and capitalise on this recognition by raising funding to support its continued growth.
Seedstars is a Swiss-based investment holding with a mission to impact people’s lives in emerging markets, annually holds the competition to scout for the most promising startups around Asia, Africa, Central and Eastern Europe (CEE), Middle East and North Africa (MENA), and Latin America (LATAM) regions.
“We really couldn’t do it without the whole team.
We look forward to representing Asia and hope to make a good showing of what companies in Asia are able to achieve on a global stage”,
said Jared Lim, Co-founder of Finology.
Featured image: Finology team