Open finance startup Finantier accepted into Y Combinator

Wednesday 23 December 2020 13:42 CET | News

Finantier, a Singapore-based open finance startup, has been accepted into Y Combinator’s Winter 2021 startup batch.

The startup aims to offer an API that gives financial services access to user data, with their consent. The concept is based on Open Finance, derived from Open Banking. Their solution also includes machine-learning-based analytics to enable credit scoring and KYC verifications. Finantier covers multiple services, including business lending, mortgages, and insurance underwriting.

Currently in beta mode with 20+ clients, Finantier is getting ready to officially launch. The startup also recently raised an undisclosed amount of pre-seed funding led by East Ventures, with participation from AC Ventures, Genesia Ventures, Two Culture Capital, and other investors.

While Finantier is focusing first on Singapore and Indonesia, it plans to expand into other countries and become a global fintech company like Plaid. It is currently eyeing Vietnam and the Philippines. Finantier will also be participating in the Indonesia Financial Service Authority’s regulatory sandbox. Once it completes the program, it will be able to partner with more fintech companies in Indonesia, including bigger institutions.

More: Link

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Keywords: Finantier, Singapore, API, Open Banking, KYC, funding, Open Finance, Asia, banking
Categories: Banking & Fintech
Countries: Asia
This article is part of category

Banking & Fintech

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