Monexo Joins DBS Accelerator04 August, 2015 Monexo Innovations Limited (www.monexo.co), a Hong Kong based fintech startup providing a marketplace for borrowers and lenders to engage in peer to peer finance, is delighted to announce that it has been selected to participate in the DBS Accelerator Programme, powered by NEST! Monexo is the only peer-to-peer lending marketplace startup in this highly competitive accelerator programme.
The DBS Accelerator, a direct result of the partnership between DBS, a Southeast Asian super-regional financial services group, and NEST, Hong Kong’s leading investment and startup incubation firm, seeks to create opportunities for innovators from across Asia and around the world to shape the future of financial services.
Commenting on the initiation of this accelerator programme, Sebastian Paredes, CEO of DBS Hong Kong stated: “The DBS Accelerator programme aims to nurture a new generation of digital leaders and talent to secure Hong Kong’s future as a world-class FinTech hub.”
Our CEO, and co-founder, Mukesh Bubna, commented that: “Online peer-to-peer lending started as an experiment a decade ago in the United Kingdom. Today, it is an industry where banks and peer-to-peer lending marketplaces are partnering. We are excited at the possibilities this accelerator programme could open up for us at Monexo.”
Monexo is a pioneer in the peer-to-peer lending landscape in Hong Kong. It currently offers a rental-cash in model, whereby borrowers may receive up to 48 months to future rental income upfront, but must assign the rental income to lenders. In developing the business, Monexo has also formed partnerships with household names like AIG, the Hong Kong Trust Company Limited, Robertsons Solicitors, and Thomson Reuters Accelus. More information about our partners can be found here.
The team at Monexo believes that the recent formation of the Fintech Steering Group by John Tsang, Financial Secretary of Hong Kong, marks a step in the right direction to transition Hong Kong from a financial center into a fintech hub.The three month programme, aimed specifically at disruptive fintech technology, will provide startups like Monexo with the opportunity to leverage from both, the DBS and NEST networks, as selected startups will receive unprecedented access to the DBS & NEST innovation ecosystems.Heavy Hitter
After three months of connecting and networking with leading entrepreneurial mentors, as well as refining and developing the business, the programme concludes with DBS and NEST Demo Days, and a Public Investor Demo Day. At this point, Monexo will have the opportunity to showcase its products and services to a range of potential investors, including venture capitalists and influential industry leaders.
Author: Sahil Mohnani @ Monexo