Everledger has been announced as the winner of the Fintech Finals 2016 pitch competition at PMQ in Hong Kong.
This growth-stage start-up from the UK, was deemed the 'Best in Show,' a part of the StartmeupHK Festival.
Everledger, a permanent ledger for diamond certification and related transaction history, acts as a verification for insurance companies, owners and law enforcement.
The company won this title by competing with 24 start-up finalists; and consequently went home with the coveted US$10,000 prize.
"What a fantastic way to end these past two days. We are thrilled for Everledger on their well-deserved win, and we congratulate and applaud all of the start-ups that participated for their limitless dedication and passion for innovation," said Next Bank founder, Rob Findlay. "These are the individuals that are shaping the future of fintech here in Asia for all of us."
Three Best-In-Category trophies were also distributed at the event, and all winners will receive the benefits of partnership opportunities and promotion through Next Bank and FinTechHK channels.
While the award for the Best Early Stage Start-up went to InvoiceInterchange from Singapore, Best Growth Stage Start-up award was won by Uniken from India.
8Securities from Hong Kong bagged the Best Mature Stage Start-up.
All winners were judged on several criteria including business model application, scale and robustness; transformative concept and technology; market opportunity and size; and customer experience design and ease.
"As one of the judges of the competition, I was impressed with the quality of the companies showcasing their solutions. It is very encouraging to see the whole innovation ecosystem looking for partnerships and opportunities to co-create," said Ruben Salazar, vice president, head Product Design & Development Asia Pacific, Visa. "The fintech community in Asia is strong and very active with large and small firms collectively responding to consumer needs. At Visa, we are building better capabilities to provide access to our payment network and are also facilitating the development of payment solutions which are better than cash. In line with this, we are introducing enhanced APIs for easy access to our services and content."
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