The Demo Day for leading global fintech accelerator, Startupbootcamp, has successfully gathered more than 600 guests from across the finance sector.
Leading investors from across South East Asia came together last week in Singapore to witness ten start-ups put their innovations on display to attract much-needed funding to turn their work into a profitable reality. Selected from an application pool of nearly 400, the 2016 group of start-ups culminated their three months in of hard work in the Startupbootcamp program into Demo Day -designed to showcase the start-ups ventures on stage, with the objective of attracting strategic partnerships and investments.
A total of 11 pilots and key partnerships, along with eight more in the works were secured at the day. Start-up Connaizen, which crunches transaction data to provide personalised card-linked offers, announced a partnership with ICICI bank and RuPay in India. The start-up will now run pilot programs for ICICI bank’s 295 million card holders.
“2016 saw a diverse cohort of fintech start-ups hailing from 7 different countries across APAC. This reflects the increasingly maturing fintech ecosystems across the region,” said managing director of Startupbootcamp, Steven Tong.
“From entering the program, the teams have made impressive developments, transforming their products, building partnerships and getting terms sheets on the table. We are excited to see where these fintech entrepreneurs will be 6 months from now.”
PwC Singapore fintech and financial services leader, Antony Elridge, said the event was important for building the global fintech ecosystem and an important step for traditional financers in recognising the benefits that alternative finance and technology can provide.
“The onus is on traditional players to harness the brainpower of these start-ups and collaborate to bring innovative solutions to market faster and rewrite the financial services rulebook together.”
“Fintech start-ups play a crucial role in identifying service gaps and inefficiencies and coming up with innovative solutions to make the customer’s life better.”