MDEC, AFG to facilitate funding opportunities for Malaysian tech firms

KUALA LUMPUR: The Malaysia Digital Economy Corporation (MDEC) and Asean Fintech Group (AFG) have formed a strategic partnership to enhance initiatives aimed at scaling up Malaysian financial technology (fintech) companies.

The collaborative efforts will focus on three key areas, namely deal flows, fintech ecosystem support and joint amplification.

“MDEC will curate deal flows and funnel potential Malaysian fintech companies to AFG.

“AFG via its regional network, will explore funding facilitation opportunities for Malaysian technology companies – especially fintech start-ups – for potential investment and acquisition,” the parties said in a joint statement today.

MDEC CEO Mahadhir Aziz said the partnership will create more opportunities for the companies in advancing their business, with access to regional markets and funding.

According to the statement, the synergistic partnership will provide an opportunity for AFG to propel start-ups and add value to the robust Malaysian fintech network through efficient capital provision, technology, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies.

AFG executive director Lau Kin Wai said Malaysia presents a conducive investment environment, backed by an abundance of talents and infrastructure and a thriving start-up ecosystem filled with high-potential ideas, products and services.

“We see great potential in MDEC’s programmes, which is why we have chosen Malaysia as our preferred hub to expand into the Asean region,“ he said.

Founded in 2017, AFG aims to create accretive value by digitising money and commerce flow across one of the fastest-growing fintech geo-markets in Asia. – Bernama