The PayNet Fintech Hub (the Hub) aims to accelerate fintech growth in Malaysia by offering fintechs direct access to capital, essential industry connections, financial incentives, and opportunities to learn from and collaborate with global companies.
Officials from PayNet stated that an optimal fintech industry is important for providing inclusive financial services that can help Malaysia achieve its growth and innovation goals while keeping pace with the industry's evolving nature.
The Hub is a selective programme with two key pillars: Community and Catalyst. The selected fintech companies to enter the community will gain access to:
A network of founders and ecosystem players alike for exchanging ideas and sharing learnings;
Over 450 hours of hands-on mentorship provided by a network of personally selected founders and domain experts;
Corporate players from banking, payments, and tech seek partnership opportunities;
A group of fintech investors who can mentor, evaluate, and invest in Hub members.
All Fintech Hub community members will also receive financial support, including:
USD 240,000 in PayNet value-added credits;
USD 141,760 worth of sponsored advisory services across legal, finance, human resources, and market research;
USD 710,000 in cloud credits and support from major cloud service providers;
Access to a fully sponsored co-working space.
These benefits aim to assist founders in managing cash expenditures, overcoming obstacles, and fine-tuning business models, optimising go-to-market strategies, securing funding, and establishing a clear path to expansion.
In addition, some startups from the Community will be selected for the Catalyst programme. This track is in partnership with global institutions, providing Malaysian fintechs with international exposure, mentorship, resources, and access. Participants will participate in a fully sponsored 10-week accelerator program in partnership with Imperial College London, an institution for startup acceleration.
The fintech hub serves as a unique, curated platform designed specifically for the needs of Malaysian fintechs, and it is fully funded by PayNet.
According to the statement, the expanded Fintech Hub partnership with AWS provides Catalyst eligible participants with credits to access AWS cloud services and tools through the recently launched AWS Asia Pacific (Malaysia) Region.
By providing access to essential resources, the PayNet Fintech Hub aims to drive innovation, cultivate high-impact partnerships, and establish Malaysia as a key fintech destination in the region.
Malaysia's fintech market has been witnessing rapid growth and transformation in recent years. With the convergence of finance and technology, the country has adopted innovative solutions to improve financial services, positioning itself as a hub for fintech startups. Moreover, the startups are attracting local and international investors who recognise the market’s potential.
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