Swipey, a Malaysian fintech startup specialising in financial management solutions for SMEs, has secured funding from 1337 Ventures. The sum was not disclosed.
The investment is part of Swipey’s broader funding plan as it works towards scaling its offerings and advancing its finance operating platform designed to streamline business finances.
The platform integrates tools such as spend management dashboards, corporate Visa cards, and automated accounts payable features, enabling businesses to manage expenses more efficiently.
Swipey claims that its solutions help businesses close their financial books five times faster.
The company’s services are utilised by over 2,000 businesses, including Zus, Maxis, Baskin Robbins, and BFM, as well as government agencies such as MyDIGITAL.
This funding follows Swipey’s recent win at MyFintech Week, hosted by Bank Negara Malaysia.
It also supports Swipey’s collaboration with agencies like Malaysia Debt Ventures Bhd, enhancing transparency in grant disbursements and extending its value to SMEs.
The investment was made through the 1337 Accelerator Fund I, which focuses on early-stage Malaysian startups offering innovative solutions.
Kalyana ‘Mohan’ Teagarajan, CEO and Co-founder of Swipey, said,
“With the support we’ve received from 1337 Ventures, we’ve been able to advance our platform and continue automating financial processes for Malaysian businesses.
This funding has already played a key role in enabling us to empower businesses to manage their finances more efficiently, allowing them to focus on scaling faster. This gives us the needed momentum as we gear towards pre-series A fund raise to build the products our customers need.”
Bikesh Lakhmichand, CEO and Founding Partner of 1337 Ventures, said,
“Supporting innovative startups like Swipey is crucial for the growth and sustainability of Malaysia’s startup ecosystem.
Swipey’s solution is addressing a pressing need in the market, and we’re excited to help them scale and make a meaningful impact in the fintech space.”
Featured image: Kalyana ‘Mohan’ Teagarajan, CEO and co-founder of Swipey [front] and Rouvin Thiruchelvam, Co-Founder & CFO [far left]
