Malaysia – 1337 Ventures, a venture capital firm in Malaysia, has recently announced its appointment as the lead accelerator for TeXnovasi. This strategic initiative, spearheaded by GXBank and Grab Malaysia with backing from Cradle and MYStartup, is set to drive Malaysia’s fintech sector and revolutionise the digital finance landscape.
According to the firm, this six-month programme is open to Malaysian seed-stage startups with a passion for solving critical financial issues. Said move further marks a significant step toward building a tech-forward and financially empowered nation.
In addition, the TeXnovasi Accelerator aims to address three fundamental areas crucial to Malaysia’s financial landscape, which include expanding financial access for underserved communities and MSMEs. This can be achieved by addressing challenges such as limited infrastructure, low financial literacy, banking mistrust, and lack of documentation.
Another important aspect is enhancing security, including strengthening digital fraud detection, improving cybersecurity, and safeguarding underserved communities through social protection. Lastly, elevating customer experience by developing more personalised and efficient solutions.
As part of the programme, startups will receive tailored mentorship and one-on-one guidance from industry leaders and subject matter experts to refine their strategies. Exclusive workshops will cover essential topics such as market entry, innovation, and scaling operations, equipping startups with the tools needed for growth.
Upon completing the programme, successful startups will gain access to an extensive network of public and private investors, corporate partners, and experienced professionals to drive their growth and success.
Speaking about the initiative, Bikesh Lakhmichand, CEO and founding partner at 1337 Ventures, said, “TeXnovasi Accelerator represents a unique opportunity to work alongside GXBank, Malaysia’s first digital bank, in fostering innovation that addresses real-world financial challenges.”
“This partnership enables us to combine GXBank’s deep insights and resources with our expertise in nurturing startups to create a dynamic ecosystem where transformative ideas can thrive, ultimately driving positive impact for underserved communities and MSMEs across the nation,” added Lakhmichand.
Fadrizul Hasani, chief technology officer at GXBank, also shared, “Coming from Grab, I recall the support we received in its early days, and we’re committed to paying it forward through this accelerator programme.”
“TeXnovasi is a platform for innovation, collaboration, and opportunity. Together with Grab and 1337 Ventures, we want to empower seed-stage entrepreneurs with the right tools, mentorship, and connections to help scale their businesses while creating impactful and sustainable solutions to solve financial challenges in Malaysia,” Hasani explained.
