StanChart-backed fintech accelerator’s third batch raises $14.4m

The SuperCharger 2018

The third batch of the Standard Chartered-backed fintech accelerator program, The SuperCharger, has collectively raised $14.4 million and sealed 47 commercial deals.

The 12-week program is dedicated to both startups and global companies aiming to capture the growth potential in Asian markets.

The program this year helped increase the value of collaboration to both the fintech startups as well as the Bank, it said in an announcement.

“We are looking for greater collaboration with fintechs to help us solve real business problems and improve the client experience. SuperCharger is one of our key initiatives to source the most innovative solutions across the fintech ecosystem and to nurture the next generation of FinTech entrepreneurs that could potentially shape banking trends,” said Carol Hung, Chief Information Officer of Standard Chartered Hong Kong.

The Hong Kong-listed bank in April opened its Hong Kong innovation lab, the eXellerator, to promote innovation within the bank and to tap emerging fintech ideas in the region. It also launched a new business unit SC Ventures (SCV) to invest in promising fintech startups and accelerate innovation initiatives across the group.

Since 2015, SuperCharger has led the growth of the local and regional fintech ecosystem. In its previous batch, it received over 200 applications from more than 30 countries globally, and selected eight finalists. The companies typically range from early-stage to late-stage growth fintech startups and the program alumni have cumulatively raised over $370 million.

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