Singapore business, InvoiceInterchange has beaten 11 competing startups to win a spot in the Fintech Finals 2016 (FF16) and a cash prize of US$1,000, which takes place in Hong Kong later this month. At the semi-final event in Singapore in December, each startup was given five minutes to pitch their company to a live audience and three industry expert judges. Early stage to late stage startups participated in the competition and the judges awarded scores based on business model application and robustness, customer experience, and interface as well as potential market disruption and impact to the industry.
InvoiceInterchange is a peer-to-peer invoice trading marketplace, providing working capital solutions to fund business growth for SMEs. Brian Teng, Co-Founder of InvoiceInterchange, said: “We are very excited and grateful to have won this event. It has given us a good opportunity to pitch ourselves against the best teams across Asia at the FF16 event in Hong Kong, and we are very much looking forward to that, to building new relationships and partnership opportunities with startups and investors that will be present in Hong Kong.”
Singapore was the first city to hold the semi-finals, with five other semi-final competitions taking place throughout Asia-Pacific region; namely Seoul, Mumbai, Bangalore, Kuala Lumpur and Sydney respectively.
These semi-final startup competitions are part of a larger initiative by Next Bank and Visa to establish innovation hubs and entrepreneurship across Southeast Asia. Next Bank is a network of designers, entrepreneurs and finance industry executives that want to see positive change in the finance industry. The group meets regularly to discuss and learn about issues that the industry is facing. Through city- based chapters located in major cities around the world, Next Bank is now expanding into Asia with Visa’s support.
To find out more about the Fintech Finals 2016, visit www.fintechfinals.com.