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Forbes Asia has released its 2022 “100 to Watch” record recognising the highest 100 fastest-growing startups and small corporations within the Asia Pacific area.
This 12 months’s record embrace 17 startups within the fintech and insurtech sectors tackling a broad vary of areas together with enterprise banking, wealth administration, compliance and crypto crime.
These corporations, representing 15 nations and territories, had been chosen from over 650 public nominations and canopy 11 classes.
Alami (Indonesia)
Based in 2018, Alami is a licensed Sharia-compliant peer-to-peer (P2P) lending platform for micro, small and medium-sized enterprise financing based mostly in Indonesia. The corporate, which claims to have disbursed greater than US$200 million for over 8,500 MSMEs financing transactions with 0% default charge, has been working towards turning into a full-fledged Sharia challenger financial institution, acquiring in March 2021 Sharia rural financial institution, BPRS Cempaka Al-Amin.
AwanTunai (Indonesia)
Based in 2017, AwanTunai is a degree of sale (POS) financing answer geared toward digitising Indonesia’s huge money financial system. The corporate builds digital distribution, serving to hundreds of micro-retail retailers to entry working capital in addition to settle for fee from AwanTunai shopper credit score, all of the whereas offering shopper financing on the different finish of the spectrum. AwanTunai closed a US$8.5 million spherical in March and is valued at round US$57 million.
EasyTransfer (Singapore)
Based in 2013 and headquartered in Singapore, EasyTransfer is a web-based tuition fee providers platform for worldwide college students. The corporate hosts a worldwide community of economic establishments and is partnered with fee providers like Tencent, UnionPay and Cashfree Funds to supply households a streamlined and cost-effective worldwide fee technique. EasyTransfer claims greater than 280,000 end-users, and over US$3 billion in transactions processed annually.
Endowus (Singapore)
Based in 2017, Endowus is a Singapore-based digital wealth platform for the Central Provident Fund (CPF), Supplementary Retirement Scheme (SRS), and money financial savings, serving to folks develop their cash with knowledgeable recommendation and entry to institutional monetary options at low charges. Endowus claims to handle greater than S$2 billion in property beneath administration and expanded to Hong Kong in July 2022.
Fano Labs (Hong Kong)
Based in 2015 and headquartered in Hong Kong, Fano Labs specialises in speech and pure language processing applied sciences, serving to enterprises in finance, banking, insurance coverage and different sectors with their buyer providers, compliance, and different strains of companies. A spin-off from the College of Hong Kong, Fano Labs supplies options reminiscent of voice authentication, gross sales monitoring and compliance checks.
Finhay (Vietnam)
Based in 2017 and headquartered in Hanoi, Finhay is a licensed brokerage firm that runs a wealth administration platform. The platform utilises machine studying to establish and suggest investments for traders, and claims greater than 2.7 million registered customers. Finhay closed a US$25 million Sequence B in June to put money into strategic enterprise growth, expertise acquisition and know-how improvement.
G-hcare (Mainland China)
Based in 2018 and headquartered in Shanghai, G-hcare provides business-to-business medical insurance information and administration platforms for insurance coverage corporations. By way of a worldwide medical community and superior threat administration know-how, G-hcare allows the insurance coverage business to supply diversified well being administration and insurance coverage schemes, and enhance buyer expertise. The corporate works with insurers like China Life, China Taiping and Ping An.
Leapstack (Mainland China)
Based in 2016 and headquartered in each Beijing and Shanghai, Leapstack is a know-how firm specializing in medical insurance threat management. The corporate serves insurance coverage corporations, insurance coverage middleman and different regulatory companions, offering them with synthetic intelligence and large data-driven threat management options. Leapstack closed a CNY 150 million (US$21.6 million) Sequence C in January 2022 and has been engaged on increasing regionally.
Magnum Analysis (Hong Kong)
Based at and incubated by the Hong Kong College of Science and Know-how in 2016, Magnum Analysis is the developer of digital wealth administration platform Aqumon. The corporate focuses on making funding recommendation cost-effective, clear and accessible to each monetary establishments and retail traders, leveraging large information and quantitative know-how to allow optimum portfolio constructure. Aqumon claims extra 150 partnering monetary establishments.
Merkle Science (Singapore)
Based in 2018 and headquartered in Singapore, Merkle Science supplies blockchain transaction monitoring and intelligence options for crypto-asset service suppliers, monetary establishments, and authorities companies, serving to them detect, examine, and forestall cash laundering, terrorist financing, and different legal actions. The corporate secured a US$19 million Sequence A in August 2022.
NewBanker (Mainland China)
Based in 2016 and headquartered in Beijing, NewBanker is the developer of a buyer relationship administration software program for the wealth administration business. The corporate’s platform supplies a enterprise assist system for wealth administration organisations in addition to a web site acquisition system. NewBanker claims to be serving dozens of economic establishments and funds in China together with China Retailers Fund Administration, Harvest Fund Administration and Yinhua Fund Administration.
OneDegree (Hong Kong)
Based in 2016 and headquartered in Hong Kong, OneDegree is a licensed digital insurer providing safety for pet, e-commerce, dwelling, essential sickness and digital property for people and companies. For corporates, OneDegree supplies an insurance coverage platform designed to completely digitise the insurance coverage course of. OneDegree claims to have gathered over 100,000 paid customers in Hong Kong, making it the most important digital insurer within the metropolis.
Payhere (South Korea)
Based in 2019 and headquartered in Seoul, Payhere is a cellular POS system maker. The corporate supplies software program that can be utilized freed from cost by anybody who downloads it, permitting small enterprise homeowners to just accept totally different fee strategies affordably and conveniently. Payhere closed a US$84.2 million Sequence A in December 2021, claiming 9,000 prospects on the time.
PeopleFund (South Korea)
Based in 2015 and based mostly in South Korea, PeopleFund is a P2P lending platform that connects debtors with lenders. The corporate leverages know-how and a proprietary, data-driven credit score mannequin to ship higher mortgage charges for debtors whereas sustaining a low default charge. PeopleFund claims it has surpassed the US$1 billion in mortgage origination mark and served 400,000 retail traders.
Qapita (Singapore)
Based in 2019 and based mostly in Singapore, Qapita is a supplier of a digital fairness administration software-as-a-service answer. Qapita’s answer seeks to automate the fairness administration course of for startups, facilitate liquidity to shareholders, and automate all processes for fairness issues in personal markets. The startup has secured greater than US$32 million in funding.
Thriday (Australia)
Based in 2020 and headquartered in Melbourne, Thriday is an all-in-one monetary administration platform for companies, specializing in automating banking and accounting capabilities. Previously referred to as Thrive, Thriday supplies a transaction account that comes with options reminiscent of expense monitoring, invoicing, reconciling, payroll, AI options for budgeting, taxes and accounting, and extra. The service has not launched but however claims over 10,500 companies in its waitlist.
Verihubs (Indonesia)
Based in 2019 and based mostly in Jakarta, Verihubs is an all-inclusive verification platform, serving to enterprises and startups in sectors reminiscent of banking, fintech, e-commerce, and different digital sectors to stop fraud occurrences. The corporate makes use of AI-based id authentication know-how and APIs to permit corporations to confirm returning prospects by way of SMS, WhatsApp or flash calls. As of September 2021, it claimed 46 prospects together with main banks and fintech corporations.
Featured picture credit score: edited from Freepik
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