Start-up founders met hundreds of potential investors at Singapore's Demo Day, which was the finale of a three-month "boot camp" designed to help entrepreneurs sharpen their business plans with the help of financial services mentors. Eleven financial technology start-ups made their pitches to possible investors at Demo Day.
—By Pauline Chiou
Posted 6 August 2015
Amit Anand, founder and managing partner of Jungle Ventures, a Singapore-based venture capital firm that invests in early start-ups across Asia.
On what he looks for in a start-up: "We look to see who has the most destructive progress."
Aaron Siwoku, founder of Toast, an app that allows migrant workers to remit money using near-field-communication-enabled smartphones and metro cards.
"Ninety-five percent of migrant workers have a smart phone. Why should they stand in line for three hours to remit? My dream is to not only solve this problem but to swing for the fences and IPO in four years."
Han Verstraete, founder and chief executive of Otonomos, a Singapore-based start-up that helps private companies incorporate digitally using the blockchain. The blockchain is a public database that records and verifies transactions using modern cryptography.
"It's not as easy to understand as mobile payments or crowd funding. To explain it (blockchain) to people and have them part with their money is a challenge!"
Siddhartha Gandhi, founder of Kyepot, a start-up targeted at villagers in India and Africa, who usually earn about $10 a day. Kyepot allows users to contribute to, and borrow from, a group pool of savings.
"It's a pot to you and me. But for many people around the world it's a bank, especially for a majority of the 2.5 billion under-banked around the world."
Markus Gnirck, founder of Startupbootcamp FinTech, welcomes potential investors who have come to hear the start-ups' pitches.
"We are a very important platform that connects the banking industry to entrepreneurs of Fintech start-ups. We are making the two industries speak to each other."
Pat Markey, left, an independent consultant who acted as a mentor to start-up Kyepot, explaining the mobile savings and lending app to a potential investor.