Swipey, a Malaysian fintech startup, has secured a funding from 1337 Ventures to boost small and medium-sized enterprise (SME) financial management.

Swipey said in a statement on Wednesday that the investment is part of its broader funding plan which will enable the firm to further its mission in delivering seamless and automated user-friendly financial tools and processes.

With the backing of 1337 Ventures, Swipey said the firm is poised for further growth and innovation in the fintech sector, ensuring Malaysian SMEs have the necessary tools for effective financial management.

“With the support we’ve received from 1337 Ventures, we’ve been able to advance our platform and continue automating financial processes for Malaysian businesses,” said Kalyana ‘Mohan’ Teagarajan, Chief Executive Officer and Co-founder of Swipey,

“This funding has already played a key role in enabling us to empower businesses to manage their finances more efficiently, allowing them to focus on scaling faster,

“This gives us the needed momentum as we gear towards pre-series A fund raise to build the products our customers need,” he added.

Swipey noted the firm is transforming modern digital businesses to manage their finances through a finance operating platform.

With innovative solutions designed to centralize and simplify, it said it empowers businesses to spend smarter, reduce costs, and focus on scaling their success through unified banking and Fin-Ops solutions.

Swipey’s platform integrates innovative tools, including a spend management dashboard that provides real-time actionable insights, corporate Visa cards—both physical and virtual, and digital accounts payable for vendor and other operating expenses.

By automating receipt capture, accounting integration and merchant control, the firm enables businesses to close their financial books 5 times faster.

It also empowers over 2,000 businesses ranging from local names like Zus, Baskin Robbins, and BFM, to major corporations like Maxis and government agencies such as MyDIGITAL, to enhance their financial operations.

In addition to its robust platform, Swipey has also formed a strategic collaboration with various government agencies including Malaysia Debt Ventures Bhd (MDV), a government agency focused on increasing governance and visibility into grants disbursed, further enhancing its service offerings to SMEs.

“Supporting innovative startups like Swipey is crucial for the growth and sustainability of Malaysia’s startup ecosystem,

“Swipey’s solution is addressing a pressing need in the market, and we’re excited to help them scale and make a meaningful impact in the fintech space,” said Bikesh Lakhmichand, Chief Executive Officer and Founding Partner of 1337 Ventures.

The 1337 Accelerator Fund I aims to bridge the funding gap faced by early-stage startups in Malaysia.

Managed by 1337 Ventures in partnership with seasoned angel investor Asgari Stephens and former JobStreet COO Suresh Thiru, the fund is dedicated to supporting innovative solutions across various industries.

Swipey exemplifies this mission by addressing critical challenges in SME financial management, said the statement.

This investment comes on the back of Swipey winning MyFintech Week hosted by Bank Negara Malaysia.

As part of its ongoing commitment to nurturing innovative founders, 1337 Ventures recently launched the 1337 Capital Fund 1 in 2024.

Established in 2012, 1337 Ventures is a Malaysian venture capital firm that invests in pre-seed and seed-stage startups.

Through Leet Academy, the firm has accelerated the growth of over 4,000+ startups from five different countries.

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