Life.SREDA’s fintech accelerator InspirAsia unveils pioneer batch startups

InspirAsia logo

Singapore-based fintech venture capital firm Life.SREDA VC has unveiled the pioneer batch of startups for its InspirAsia financial technology (fintech) accelerator. Each venture will receive between US$50,000 to US$500,000 in investment, in exchange for Life.SREDA acquiring 5-15 percent of their equity.

InspirAsia Accelerator is Life.SREDA’s in-house growth stage accelerator program, focusing on post-seed and early Series-A stage startups from Asian countries. The startups in the pioneer cohort originate from across the Asia-Pacific (APAC) region, hailing from East Asia, Southeast Asia and the Indian subcontinent.

Each startup that joins the 180-day accelerator program will receive between a variable investment, depending on their growth stage, as well as $25,000 worth of support services.

Commenting on the acceleration programme, Vladislav Solodkiy, managing partner at Life.SREDA VC, said: “Today most of acceleration programs around the globe focus mainly on young teams helping them kick off their ideas. But there’s very few mentorship programs designed for series A startups that are already mature, yet still looking for experts’ input to improve their business.”

Solodkiy views the mentorship, global overview, international networking and opportunities to be differentiators for InspirAsia in an increasingly competitive accelerator ecosystem. Solodkiy explained InspirAsia’s role as helping them: “…package their business to attract money from large strategic investors, selling their business, or going public in the future.”

Also Read: Fastacash secures $15m Series B round from Rising Dragon Singapore, Life.SREDA

Selected startups

A relatively mature startup participating in the programme is India-based Mobikon, a customer engagement and marketing platform for restaurants that recently received $2.3 million in growth funding from Jungle Ventures.

Mobikon has already grown rapidly and has operations around the region including its native India, Singapore, Manila, Dubai, Macau and Kuala Lumpur. The platform deals with over 65,000 reviews a month and claims to engage over 600,000 restaurant goers monthly, with 130,000 customers being added month-on-month.

According to Samir Khadepaun, CEO and co-founder of Mobikon , “We are quite excited to partner with Life.SREDA InspirAsia program. Life.SREDA brings in a great ecosystem of POS & Payments partners, allowing Mobikon to offer integrated solutions to the F&B businesses. We are looking forward to work with the InspirAsia’s incubation program and expand aggressively in coming months”.

The startups selected for this pioneer batch have developed fintech solutions specifically targeted at a diverse array of domains, from mobile payments and peer-to-peer (P2P) transactions to mobile banks and mobile cash registers for retailers.

At the moment, 8 startups have already been shortlisted for InspirAsia’s acceleration programme, though the final number is expected to be around 10-15 ventures participating in the programme.

Shortlisted startups that are amongst the pioneer batch of InspirAsia are: Softpay (mPOS solution); Mobikon (customer engagement and marketing); Rev ( tablet based POS system for restaurants);  StoreHub (IoT based POS, inventory and CRM solution) HotTab (retail POS); Ayannah (remittance services); HomePay (household finance management) and TIDE (online big-data analytics solution).

According to serial entrepreneur Victor Chow, InspirAsia’s CEO: “For the past 3 months, we have been meeting and interviewing the startups during our partner’s pitch days and major tech events such as Echelon Asia Summit and Tech in Asia.

Chow added, “We believe startups come in different stages of their business lifecycle and require specific and tailor-made programmes to spur them for their next growth and acquiring the Series A funding from us and from our co-investment partners”.

Apart from running its pioneer programme in Singapore from September 2015, InspirAsia is concurrently launching licensed programmes with partners in China, South Korea, Indonesia and Hong Kong.

Also Read: Unitary Asian cryptocurrency would revolutionise fintech: Life.SREDA’s Vladislav Solodkiy

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.