The Singapore Fintech Association (SFA) has joined forces with Malaysian venture capital firms Artem Ventures and OSK Ventures International (OSKVI) to launch Project Tapir. This collaborative initiative aims to facilitate the expansion of Singaporean fintech companies into Malaysia. Additionally, 1337 Ventures, another Malaysian VC firm, will serve as a “secondary partner” in the project, although specific details of its role have not been disclosed.

Under the partnership, the SFA will play a crucial role in identifying promising fintech firms for expansion into the Malaysian market. The project is scheduled to commence in May, focusing on companies operating in various sectors, including payments, insurtech, AI, and emerging technologies. This move comes as AI-focused fintech companies in Singapore witnessed a 77% year-on-year increase in funding in the second half of 2023, while the crypto and insurtech sectors experienced a decrease of 86% and 25% in investments, respectively, according to KPMG.

In addition to promoting cross-border expansion, Project Tapir aims to showcase Malaysia as an attractive destination for foreign investments. By leveraging the expertise of Artem Ventures and OSKVI in the Malaysian fintech space, the initiative seeks to support SFA members and positively impact both the economic and talent markets in both countries. SFA President Shadab Taiyabi expressed optimism about the collaboration, highlighting the potential benefits for members and the broader economies of Singapore and Malaysia.