SuperCharger Takes Off in Malaysia – Accelerating the Future of FinTech in ASEAN
Building on the momentum of SuperCharger's 2017 demo day at HKEX, we began our expansion into ASEAN, with Malaysia as the first country of entry.
SuperCharger recently closed the Malaysia application and will officially announce the 10 FinTech companies joining the cohort at the Kuala Lumpur Launch Day on September 26th.
For now, we would like to share with you our story in Malaysia thus far.
A. Why Malaysia
There is significant headroom for growth across FinTech sub-categories in Malaysia. With positive investor sentiment, strong partnership appetite from financial institutions, and a government focused on cultivating an innovation friendly regulatory environment, Malaysia’s FinTech ecosystem is poised to enter a period of rapid growth.
For Malaysia and the financial institutions that reside in the country to fully realize the benefits of FinTech, success rests on three key levers:
Understand the emerging trends of FinTech and their applicability to local financial institutions.
Identify start-ups and scale-ups that can deliver sustained innovation to the local economy and financial institutions.
Execute proof of concepts (POCs) and commercial contracts in an efficient and scalable manner.
With the support of our main partners (Allianz Malaysia, Standard Chartered, and Malaysia Digital Economy Corporation), we are helping build Malaysia’s FinTech ecosystem.
"By collaborating with MDEC and Allianz Malaysia to bring SuperCharger to Malaysia, we are deepening our understanding of the potential of the FinTech market and enabling some of the world's hottest start-ups and scale-ups to evolve their business propositions."
- Matthew Norris, Standard Chartered Global head of Global Business Service
B. Achievements To Date
In three short months, SuperCharger has established itself as the largest FinTech accelerator in Malaysia by the number of applications received.
1. Numbers of Applications
We received 111 applications from 30 countries. With 25% of applicants based in Malaysia, SuperCharger is pulling in global innovation as well as advancing local talent.
2. Number of FinTech Sub-sectors
SuperCharger attracted applicants from 11 FinTech sub-sectors. 20% of applicants originated from payments, and the remaining majority are distributed at an average of 8% across the remaining 10 sub-sectors (AI, Big Data, BlockChain, Credit, Cybersecurity, InsurTech, WealthTech, KYC and Digital Identity, RegTech, SaaS)
3. Applicants’ Development Stage
45% of applicants are early stage start-ups and 55% are scale-ups. This reflects a healthy mix that enables our partners to be at the forefront of understanding and investing in cutting-edge technologies, whilst identifying “go-to-market” ready companies that tackle specific use cases.
4. Applicants’ Revenue Generation
67% of applicants have generated revenue in the past 12 months. More notably, 13.5% of applicants have generated more than US$500,000 in the same period – a strong signal of FinTech companies with established traction.
C. Looking Ahead
The team at SuperCharger, Allianz, Standard Chartered and MDEC are looking forward to welcoming the 10 startups who will begin their 12-week acceleration journey with us in September.
Meet the 10 startups and be part of the Malaysia FinTech ecosystem - Register for SuperCharger's Kuala Lumpur Launch Day on September 26th.
"FinTech companies have a growing influence on financial services and we are very keen to partner with some of these start-up companies to come up with new and exciting products and solutions for our customers."
- Zakri Khir, Allianz Malaysia Berhad's Chief Executive Officer
Founded by Janos Barberis, SuperCharger is Asia's leading FinTech Accelerator. Located in Hong Kong and Kuala Lumpur, we help global early stage FinTech startups and scale-up companies to unlock the Asian market, and identify key trends and startup partnership opportunities for financial institutions.
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