The Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in the digital economy, in collaboration with ASEAN Fintech Group (AFG), announced Wednesday a strategic partnership to enhance initiatives aimed at scaling up Malaysian fintech companies.

In a joint statement, both parties said that their collaborative efforts will focus on three key areas, namely deal flows, fintech ecosystem support and joint amplification.

According to the statement, MDEC will curate deal flows and funnel potential Malaysian fintech companies to AFG.

Meanwhile, AFG, through its regional network, will explore funding facilitation opportunities for Malaysian Technology companies, especially fintech start-ups, for potential investment and acquisition.

“We are excited to announce this collaboration with AFG as we strive forward with initiatives to enhance and scale-up Malaysian fintech companies. Working closely with fintech ecosystem partners, we are optimistic that the partnership will create more opportunities for these companies in advancing their business with access to regional markets and funding,” said Mahadhir Aziz, Chief Executive Officer, MDEC.

According to the statement, this synergistic partnership with MDEC will provide an opportunity for the AFG to propel start-ups and add value to the robust Malaysian fintech network through efficient capital provision, tech, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies.

“Malaysia presents a conducive investment environment, backed by an abundance of talents and infrastructure and a thriving start-up ecosystem filled with high-potential ideas, products and services. We have a number of Malaysian fintech companies who form parts of our network who have not only seen growth but are in the midst of going regional through the AFG’s support,

“We see great potential in MDEC’s programmes which is why we have chosen Malaysia as our preferred hub to expand into the ASEAN region,” said Lau Kin Wai, Executive Director, AFG.

Among the Malaysian fintech companies currently under AFG’s roster includes Malaysia’s insurtech platform and BetterPay, a aayment service platform. provides accessible and affordable insurance plans to Malaysians powered by artificial intelligence (AI) data analytics. With over 250,000 visitors visiting’s monthly, users receive tailor-made solutions for their insurance needs anytime, anywhere.

BetterPay (formerly known as QlicknPay) is a registered payment service platform working in partnership with leading banks to help digitizing businesses through advance an payment technology linked with core banking products.

MDEC is the agency under the Ministry of Communications and Multimedia Malaysia leading the digital transformation of the economy for 25 years. It aims to enable a progressive, innovation-led digital economy. The agency will continue to lead Malaysia’s digital economy forward towards becoming a globally competitive digital nation, anchored on innovation, sustainability and shared prosperity, firmly establishing Malaysia as the digital hub of ASEAN.

AFG is a venture corporation led by former founders/operators or C-suites of successful technology companies. Founded in 2017, AFG aims to create accretive value by digitising money and commerce flow across one of the fastest-growing fintech geo-markets in Asia.

AFG is building an integrated fintech value chain through innovation, network and scale across four verticals: payments, lending / buy now pay later (BNPL), Insurtech and Digital Wealth Management.

With ready ASEAN financial licenses and quick market access to the top 1000 companies in ASEAN, AFG increases interoperability of its current and future fintech businesses through efficient capital provision, tech, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies.

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