Finverse wants to build the Asia-Pacific region’s Plaid

Headquartered in Hong Kong, Finverse’s core mission is to sponsor the spread of open banking solutions across all the nations in the Asia-Pacific region.

The startup recently emerged from stealth mode with US$1.8 million in seed funding and is now operational in four markets, including Hong Kong, the Philippines, Singapore, and Vietnam, and is connected with 30 banks.

Finverse’s Founder and CEO Stephane Lesaffre stated in a conversation with TechCrunch that the firm is on course to extend its reach into one new market or country per quarter. In each of these new markets, the firm hopes to acquire up to 70% of the retail banks and SMEs.

The investors who took part in Finverse’s seed round include Febe Ventures, Golden Gate Ventures, SixThirty, Venturra, and other angel investors.

Finverse is one of the financial technology companies developing APIs that make sharing of financial data more seamless. Some of the most popular examples include Plaid in the United States and Tink and Truelayer in Europe.