KUALA LUMPUR – Finory.tech has emerged as the top winner of TeXnovasi, the inaugural startup accelerator jointly organised by GXBank Berhad and Grab Malaysia, marking the end of a six-month programme to nurture homegrown fintech innovation.
The startup’s proprietary technology enables it to extract, categorise and analyse financial data through statement-parsing, a feature that helped secure its win. Swipey, a CFO Tech platform for SMEs, and Cashku, a digital financial planning app, placed second and third respectively.
The top three startups will now begin developing proof of concepts (POCs) with GXBank to explore the feasibility of scaling and integrating their solutions into the bank’s offerings.
“TeXnovasi is a testament to our shared belief with Grab in the power of collaboration and knowledge sharing to drive our nation forward,” said GXBank chief technology officer Fadrizul Hasani.
“Our purpose is to capitalise technology to serve the real financial needs of Malaysians. Seeing startups like Finory.tech, Swipey and Cashku develop such impactful solutions validates our belief in the power of homegrown innovation.
“We are humbled by their commitment and look forward to this journey with them to build a more financially resilient Malaysia. We are excited to start collaborating on their POC and explore opportunities to value-add to our customers.”
Grab’s regional head of loyalty and marketing, Hassan Alsagoff, said the programme reflects the company’s broader mission to create economic opportunities through its ecosystem.
“The vision, passion, and ingenuity we’ve seen from the startups have been inspiring. Grab is committed to creating economic opportunities through our ecosystem, and this programme is a natural extension of that mission.
“Their solutions are not just innovative; they are essential. They address tangible gaps in the market and have the potential to uplift communities. We are proud to partner with GXBank on this initiative and look forward to seeing these startups flourish,” he said.
TeXnovasi, supported by Cradle Fund Sdn Bhd and 1337 Ventures, was created to support startups that address the needs of unserved and underserved communities in Malaysia through technology-driven financial solutions.
From an initial pool of nearly 60 applicants, five startups were shortlisted for intensive mentorship with senior leaders from GXBank and Grab. Finalists then pitched their ideas during Demo Day to a panel comprising industry veterans, venture capitalists, and representatives from both organisers.
In addition to mentorship, participants attended masterclass sessions on operations, data protection, cybersecurity and go-to-market strategy.
Finory.tech co-founder and CEO Kee Hui Jiang said the win was significant, but the experience of the accelerator was its true reward.
“Being the first winner of TeXnovasi is great, but the true prize was the invaluable guidance and raw honesty shared by our mentor, and the management of Grab and GXBank. Starting a business can be terrifying, especially when you’re driven by a deep desire to solve a problem that weighs heavily on your community.
“Hearing firsthand accounts of triumphs and struggles has been profoundly humbling and empowering, providing us with the clarity and conviction to push forward,” he said.
The conclusion of TeXnovasi comes at a critical time for Malaysia’s digital economy. While digital adoption is growing, segments such as gig workers, B40 households, and micro-entrepreneurs continue to face barriers in accessing flexible and affordable financial services.
GXBank and Grab said they hope the programme will help catalyse long-term, impactful solutions that bring meaningful improvements to the lives of ordinary Malaysians. — July 21, 2025