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iPay88, Katsana, Money Match & My Cash Online among Top 20 Malaysian Fintechs in 2020

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Published 19 February, 2020

iPay88

What does the company do?

iPay88 is one of the earlier pioneers within the online payment gateway space in Malaysia. Founded in 2006 the company’s role in powering Malaysia’s e-commerce growth through payments cannot be understated. In 2015, Japanese tech giant NTT Data acquired iPay88, it is arguably one of Malaysia’s first successful exits within the fintech space.

Who is behind the company

The company is co-founded by the trio of Chan Kok Loong, Lim Kok Hing, and Chong Lee Kean. As a seasoned entrepreneurs, they are well known and respected within the fintech community.

Why did we select them?

iPay88 is the dominant player within the online payment processing space in Malaysia with a growing presence across ASEAN markets.


KATSANA

What does the company do?

KATSANA through its DriveMark brand aims to introduce usage-based insurance to Malaysia. DriveMark is a reward ecosystem for safe drivers, the app tracks driving behaviour and allows drivers to compete with each other to win prizes and cheaper personal and motor insurance.

Who is behind the company
DriveMark is founded by Syed Ahmad Fuqaha and Irwan Ibrahim in early 2017 as an offshoot experiment to migrate Katsana’s driver scoring algorithm into a smartphone app.

Why did we select them?

Usage-based insurance has a lot of promise, however, adoption still lacks a lot to be desired, KATSANA’s DriveMark approach in creating a separate platform that gives users control to their own data could potentially accelerate the adoption of usage-based insurance in Malaysia


MoneyMatch

What does the company do?

MoneyMatch is a cross border payments startup in Malaysia providing digital remittance services at competitive rates.

Who is behind the company

The company is co-founded Adrian Yap and Naysan Munusamy who were both former bankers who believe that Malaysians deserved better financial services than what was being offered by incumbents.

Why did we select them?

MoneyMatch pioneered eKYC account opening within digital remittance space and was the first to graduate from Bank Negara Malaysia fintech sandbox into a fully licensed digital remittance service provider. They are the first startup in Malaysia to be on Ripple’s network and in 2018 they bagged an award at the Singapore Fintech Festival.


MyCash Online

MyCash Online is an e-marketplace for the migrant community founded in 2016. They enable unbanked migrants access to digital and financial services. Their recent ECF campaign with pitchIN provided their investors with 44.2% returns.

Who is behind the company

The company is founded by Mehedi Hasan and Nurul Haq who as migrants themselves were able to see the problems faced by the community. They founded MyCash Online in 2016 with the intention of tackling these issues.

Why did we select them?

Malaysia has a strong migrant population and undocumented workers, MyCash operates in a space that few do and provide a much-needed service.  They have recently expanded their services to Singapore and Australia.

Source From Fintech News



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