Malaysia-based fintech firm FinKnight, formerly Beetle Knight Advisory, has secured strategic investment from First Move and Gobi Partners Affiliate to enhance financial services for startups and scaleups in Southeast Asia.
This investment supports FinKnight’s aim to provide comprehensive accounting and professional services, including growth strategies, fundraising, bookkeeping, and data analytics, FinKnight said in a statement on Wednesday.
“We instantly connected when discussing how FinKnight could address the finance needs of startups at various stages,
“We share a vision of FinKnight taking a long-term partnership approach to support these businesses as they scale,” said Chang Lih Yen, Co-founder of FinKnight.
Chan Qi Yang, Co-founder of FinKnight, added that the investors support validates the firm’s mission to challenge conventions and empower startups that they started a year ago.
“With their investment and advice, we are poised to accelerate our expansion, reach new markets, and deliver unparalleled value to our customers,” he added.
According to the firm, in today’s fast-paced startup environment, traditional financial practices often fall short of meeting the unique needs of high-growth ventures.
Moreover, it noted startups and scaleups face increasing pressure to optimize costs while scaling operations, prompting many to relocate finance and back-office functions to more cost-effective locations.
Thus, the firm addresses these challenges by offering a new approach to startup finance, combining deep financial expertise with a keen understanding of the startup ecosystem.
It is noted that Chang and Chan were two former Chief Financial Officers of startups – EasyParcel and Signature Market.
Both founders spent decades in various roles spanning strategy, investment, turnaround, finance, and accounting.
Their diverse backgrounds provide them with unique insights into the specific financial needs of startups and scaleups.
They also understand the importance of balancing strategic growth with cost optimization, making them well-equipped to help other startups thrive in today’s competitive landscape.
In one year, FinKnight has supported more than 15 startups and scaleups, helping them navigate complex financial landscapes, optimize their operations, and achieve
sustainable growth.
Their clientele ranges from pre-seed to growth-stage companies, spanning from pre-revenue to mid-eight-figures USD in revenue.
“FinKnight is not just about providing financial services—it’s about being a partner in their growth journey,
“We’re thrilled to join FinKnight in their mission to empower startups and scaleups across Southeast Asia with the tools they need to succeed,” said Joel Neoh, Partner at First Move.
Thomas G. Tsao, Chair of Gobi Partners, added that through their affiliate, they are excited to support FinKnight’s mission to simplify financial management and drive innovation for businesses across the region.
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