Malaysian Fintech Swipey Raises Funding from 1337 Ventures to Accelerate Growth

Swipey, a Malaysian fintech startup focused on providing financial management solutions for small and medium-sized enterprises (SMEs), has secured an investment from 1337 Ventures. Although the exact amount has not been revealed, the funding is a key part of Swipey’s strategy to expand its services and enhance its Finance Operating Platform, which aims to streamline and centralize financial operations for businesses.

With this backing, Swipey aims to enhance its mission of providing seamless and automated financial tools tailored for SMEs. The platform, described as a “CFO-in-a-box,” empowers businesses to manage expenses efficiently, reduce costs, and focus on growth through unified banking and financial operations solutions.

Swipey’s platform integrates several tools to simplify business financial operations, including a real-time spend management dashboard, corporate Visa cards (physical and virtual), and automated accounts payable solutions. These features allow businesses to track and manage expenses more efficiently, ultimately enabling them to close their financial books five times faster. With these tools, Swipey helps businesses streamline their processes and focus on scaling their operations.

Swipey supports over 2,000 businesses, including major companies like Maxis, government organizations such as MyDIGITAL, and well-known local brands like Zus, Baskin Robbins, and BFM.

Swipey’s recent success includes winning MyFintech Week, an event hosted by Bank Negara Malaysia, which shows the growing recognition of its fintech solutions. In addition to its platform, Swipey collaborated with government agencies like Malaysia Debt Ventures Bhd, which helps enhance visibility and governance in grant disbursements, adding further value for SMEs.

The investment from 1337 Ventures will accelerate Swipey’s platform development and empower the company to expand its offerings. This funding, part of Swipey’s broader strategy, positions the company for future growth as it prepares for a pre-Series A funding round. According to Kalyana’ Mohan’ Teagarajan, CEO and co-founder of Swipey, the backing from 1337 Ventures is crucial for the startup’s momentum, enabling it to continue automating financial processes and support more businesses in managing their finances effectively.

“Supporting innovative startups like Swipey is crucial for the growth and sustainability of Malaysia’s startup ecosystem. Swipey’s solution addresses a pressing market need, and we’re excited to help them scale and make a meaningful impact in the fintech space.” Bikesh Lakhmichand, CEO & Founding Partner of 1337 Ventures, stated while commenting on the new investment.

In addition to its platform, Swipey has also formed strategic partnerships with government agencies like Malaysia Debt Ventures Bhd (MDV), which focuses on increasing transparency and governance in grant disbursements. This collaboration enhances Swipey’s value proposition, allowing it to further support SMEs in managing their finances with greater efficiency and accountability.

The funding from 1337 Ventures will help Swipey scale its operations and drive innovation in the fintech sector. It will also ensure that Malaysian SMEs have access to the necessary tools for streamlined financial management.