SuperCharger Fintech Accelerator 2.0 held their Demo Day yesterday at the Hong Kong Exchange Square, the home of the Stock Exchange of Hong Kong since the 1980s. Around 500 guests attended to watch, 7 startups pitch. The batch’s 8th startup X Notes Alliance was absent. The Demo Day later ended with an emotional speech by Janos Barberis, founder of SuperCharger, and the loud ringing of a bell, signaling the closing of the day’s trade. Read more about the Accelerator and startups background information here.
Oddup has rated our top pick in this batch.
Bambu was the winner of Best Early Stage Startup Award at Fintech Finals 2017 in Hong Kong in February. They are also Oddup’s top pick from SuperCharger 2.0.
Founded in 2016 by Ned Phillips, Bambu has built a range of applications for use by businesses seeking to offer their customers automated, technology-augmented investment services. The company’s B2B Robo Advisor offers companies, financial and consumer brands offers the ability to integrate and benefit from the shift in digital wealth.
Industry: Oddup notes that the demand for integrating robo advisor technology is huge as banks are tapping into the millennial generation, which heavily depends on technology and mobility. Any solution that can provide banks cost effective and efficient entry point into the world of digital wealth would be very welcomed.
Market: Bambu is riding on the right trend by being a player on the B2B, rather than the B2C space. In the B2C space, wealth management startups will find it very difficult to gain traction since the general public is risk adverse and the acceptance of fintech is still low. Until the public changes their mindset on fintech, Bambu need not compete in the B2C area where supply of similar startups is high and consumer demand is low.
Expansion: Going forward, the company can scale from a B2B business model and later to B2B2C as banks’ distribution partners. In Asia, where general public still trust and rely heavily on banks, Bambu’s B2B2C position can take advantage of their trust in banks, making its product acceptance higher. For now, the B2B approach was proved to be right as the company has already clinched two B2B contracts in the first 4 months after product was launched.
Synergy with SuperCharger: Needless to say, SuperCharger, as a Hong Kong-based Fintech accelerator, can definitely be a stepping stone for Bambu to open its reach to financial market. It is also quite obvious that Standard Chartered Bank, one of SuperCharger’s main strategic partners, can be one of Bambu’s potential clients. Came as no surprise, at the Demo Day held yesterday, we confirmed that Bambu has signed PoC with Standard Chartered, with the product to be developed in the next 3 months.
SuperCharger – Fintech Accelerator…
Janos Barberis, founder of the SuperCharger, ended the Demo Day with an emotional speech. Starting his journey 3 years ago through sending a tweet out to Huy Nguyen Trieu, CEO of the Disruptive Group, Janos initiated the accelerator idea in London, and brought it to Hong Kong with the vision of tapping into the growing demand in Asia. Since then, SuperCharger introduced over 38 POCs, pilots and contracts (and pipeline), held 16 workshops and helped fundraised USD 600K committed investments for 2.0 cohort, while 1.0 alumni raised USD 80 million since last year's Demo Day.
Now strategically located in Hong Kong, SuperCharger is the first FinTech accelerator program dedicated to both startup and more established tech companies aiming to capture the Asian growth market. The program leverages on Hong Kong’s traditional strength as Asia’s finance and technology gateway.
April 11, 2017 marks the iconic day of SuperCharger.
Once again, congratulations to Janos and the amazing SuperCharger team!