Philippine fintech startup PawnHero has won the Echelon Asia Summit 2015 Judges’ Choice Award in Singapore Wednesday night, beating nine other finalists out of the original 500 applications from around Asia.
PawnHero is the first online pawnshop in Southeast Asia (SEA) co-founded by David Margendorff, who did the pitching for the company in the two-day event that commenced on Tuesday at the Singapore Expo Convention and Exhibition Centre conducted by media and events company e27.
PawnHero won the Judges’ Choice Award, followed by two SEA startups myRealTrip from South Korea for the Global Brain Award, and ChaseFuture from Malaysia for the People’s Choice and Braintree_Paypal Awards.
myRealTrip is a website that caters to travelers who are looking for local experts in South Korea that can guide them to have a great travel experience.
ChaseFuture, meanwhile, is an admissions consulting platform that seeks to help the world’s best students reach the world’s best universities.
The Echelon Asia Summit 2015 event also featured the Top 100 Startups that e27 handpicked from around Asia based on their latest innovations.
In a recent interview, Margendorff explained that PawnHero being online-based — has made a disruption in the SEA pawnshop industry — creating options for the unbanked by charging half the interest rates that most pawnshops charge.
Only recently, PawnHero partnered with Philippine-based loan service startup LoanSolutions, which allows people to apply for different types of loans online. Both startups aim to reinvent lending and other financial practices.