GXBank and Grab Malaysia have recently announced the inaugural top eight fintech startups shortlisted to be part of the six-month long TeXnovasi Accelerator Program.

Supported by Cradle Fund and 1337 Ventures, TeXnovasi aims to empower Malaysia’s fintech startups through mentorship and resources towards building a tech-driven, financially empowered nation, and position Malaysia as a key player in revolutionizing the digital finance landscape, GXBank said in a statement on last Friday.

The eight shortlisted startups are Cashku, Du-it, Enprivacy, FinDoctor.my, Finory.tech, Kapitani, PulseLink and Swipey.

Each startup focuses on different aspects of financial inclusion such as protection and detection of digital fraud and scams, and helping micro, small, and medium enterprises (MSME) improve financial access and operations through a sustainable social protection/assistance structure that encourages MSME to thrive.

Fadrizul Hasani, Chief Technology Officer of GXBank, shared that these startups were selected based on their potential innovation to solve three areas (accessibility, security, experience) crucial to Malaysia’s financial landscape.

“Our nation’s startup ecosystem is brimming with potential especially in the fintech space,

“However many often face obstacles when trying to scale such as regulations, balancing the complexity of data, tech and compliance, and also lack of funding,” he explained.

“I am cognisant of the support we received in our early years, and even today, as a pioneering digital-only bank,

“Having the right guidance has helped shape my path as well as the organization’s,” he added.

While GXBank aims to address Malaysia’s financial inclusion and resilience through technology-driven solutions, he said that together with Grab Malaysia, they want to nurture these like-minded innovators to solve financial challenges of Malaysians.

According to him, this is part of both Grab Malaysia and GXBank’s commitment to nurturing their entrepreneurial ecosystem and drive meaningful impact to help Malaysia become a thriving tech hub.

He also highlighted that the eight shortlisted startups will gain access to a vast network of public and private investors, corporate partners, and experienced professionals, fostering opportunities for accelerated success.

According to the statement, the eight startups will benefit from personalized mentorship and one-on-one guidance from subject matter experts in Grab Malaysia and GXBank, including Hassan Alsagoff, Regional Head of Loyalty and Marketing at Grab; Hildah Hamzah, Chief Operating Officer; Prasanna Rao, Chief Commercial Officer – SME, and Ashish Gaurav, Head of Cards.

Bikesh Lakhmichand, Chief Executive Officer of 1337 Ventures, emphasized the pivotal role the firm plays as both the venture capital investor and the lead accelerator partner for TeXnovasi Accelerator Program.

“Through the mentoring sessions, we aim to equip startups with the critical skills and insights needed to scale their business within Malaysia’s financial sector,

“Exclusive workshops will cover key areas such as market entry, innovation, and scaling, providing startups with the essential tools for growth,” he said.

He hopes programs such as these will help develop more dynamic and robust homegrown startups.

Eight shortlisted startups:
Cashku – A digital financial planning app offering financial advice, management and investment.
Du-it – A vendor-distributor platform streamlining invoice, credit, and payment management.
Enprivacy – A business to business (B2B) software as a service (SaaS) platform tackling data privacy risks when using public large language models (LLMs) and artificial intelligence (AI).
Finory.tech – Leveraging proprietary statement-parsing technology to extract, categorize, and analyze data.
Kapitani – A digital farm management platform helping farmers optimize operations and market access.
FinDoctor.my – AI-powered loan screening and credit advisory for individuals and businesses.
PulseLink – Salary advancement, insurance and payroll management to boost financial flexibility.
Swipey – A Chief Financial Officer (CFO) Tech platform unifying FinOps and banking for small and medium-sized enterprises (SMEs) with automation and AI insights.

GXBank is a subsidiary of GXS Bank Pte. Ltd., – the digital bank joint venture between Grab Holdings Limited and Singapore Telecommunications Limited (Singtel) – and a consortium of other Malaysian investors, including Kuok Group.

Grab is a superapp in Southeast Asia, operating across the deliveries, mobility and digital financial services sectors.

The firm is serving over 700 cities in eight Southeast Asian countries – Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

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

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