PayNet’s ‘Fintech Hub’ Wants To Build Malaysia’s Next Grab, Google Or Apple

The PayNet Fintech Hub is designed to support Malaysian startups with access to funding, mentorship, strategic partners, and essential resources to grow.

(TRP/rawpixel.com/Freepik)

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What if the next big tech unicorn didn’t come out of Silicon Valley or Shenzhen, but right here in Malaysia? Well, PayNet wants to help build the next Google, Apple, or Grab — and it’s just launched a platform to do exactly that.

Called the PayNet Fintech Hub — or just The Hub — this new initiative is designed to support Malaysian fintech startups with access to funding, mentorship, strategic partners, and essential resources to help them succeed.

“We’re looking for those with ambition to build the next Google or Apple — We can build a Grab, and hope this time it doesn’t leave Malaysia and go somewhere else,” said Farhan Ahmad, Group CEO of PayNet, during The Hub’s launch event on Monday.

So What Is The Hub, Exactly?

In short, The Hub is a platform for Malaysian fintechs to scale fast, smart, and globally. It’s backed by over 45 strategic partners — including banks, investors, tech players, and even legal and HR firms.

The Hub’s panel of Corporate Partners and Investors features heavyweights like Maybank, RHB Bank, AmBank, Bank Islam, Touch ‘n Go eWallet, GX Bank, Xendit, Finexus, FassPay, CloudMile, Cradle, FirstMove, Gobi Partners, Nexea, and Artem.
(Credit: PayNet)

Farhan noted that local fintechs often hit roadblocks when it comes to growth. “They were getting stuck because they weren’t able to find good VCs (venture capital).”

He added that the scene’s missing a real support system — and that’s exactly what The Hub is here to fix. “Fintechs in Malaysia don’t have natural liquidity options, it’s hard to go IPO, and there are no acquisitions in the market.”

But this initiative isn’t just about backing fintechs. As Gary Yeoh, PayNet’s Chief Marketing Officer, puts it: “The agenda isn’t just to help Malaysian fintech — it’s about helping the Malaysian people,” he said, making the financial ecosystem better for everyone.

The Hub’s panel of Shared Services, Cloud, and Ecosystem Partners brings together key players like Grace S Nathan Advocates & Solicitors, FinKnight, One People Team, Vase.ai, WORQ, AWS, Google Cloud, Alibaba Cloud, Microsoft Azure, Tencent Cloud, Cradle, MDEC, FAOM, Lestari, and the Asia School of Business.
(Credit: PayNet)

Two Tracks, One Goal: Growth

The Hub is structured around two main tracks, depending on where participating startups are at.

1. Community Track

The Community track offers resources and support to help startups scale sustainably and offers:

A network of like-minded founders
450+ hours of mentorship
Access to partner banks, payment providers, and tech companies as well as a pool of investors
Over RM1 million in PayNet credits
RM600,000 in profesional services (legal, HR, finance)
Up to RM3 million in cloud credits
A fully sponsored co-working space

Guidance from the best — mentors include big names like Lester Leong (Cloud Mile Inc.), Cherie Huang (INF AI), Robin Ang (Finology), and many more top minds driving the future of fintech and innovation.
(Credit: PayNet)

2. Catalyst Track

This one’s for the high-flyers. Startups that excel in the Community track may be selected for the Catalyst track, which offers a 10-week accelerator programme in collaboration with Imperial College London, complete with:

A week-long immersion trip to London, including meetings with European and American startups
Mentorship and coaching by Imperial College faculty
A final demo day with venture capitalists and global corporate partners

Participants will also get access to cloud tools and services through AWS Malaysia’s new Asia Pacific Region, plus eligibility for the Fintech Innovation Sandbox, giving startups the room to test, scale, and grow securely and efficiently.

“Our Catalyst programme is designed to take you global,” says Farhan. “The PayNet Fintech Hub truly is a unique and transformative initiative dedicated to scaling startups beyond the foundational stage.”

And Yes, AI Is a Big Part of the Picture

At the launch, Farhan also spoke passionately about the future, especially the role of AI.

“AI is much bigger than the internet — much more transformational. It will affect every single person and every single company,” he said, offering his advice to entrepreneurs.

If you’re thinking, ‘How do I incorporate AI into my business?’ — you’re wrong. You should be asking, ‘How do I rebuild my business with AI?’

This mindset — bold, forward-thinking, and unapologetically ambitious — is exactly what The Hub hopes to inspire.

A thriving fintech industry is the key to delivering future-ready and inclusive financial services that can advance Malaysia’s growth and innovation goals. Successful fintech innovation is one of the best ways to ensure that Malaysia keeps up with the fast-evolving nature of financial services due to the rapid growth of AI.

Who Can Join The Hub?

Got a startup that’s been running for a year and has the potential to make an impact? If it’s in or around the payments space, then you could be a fit for The Hub.

“It doesn’t have to be payments-focused. It could be personal finance, smarter ways to manage cash flow, or even netting solutions. Not sure? Just write in to The Hub. We’ll take a look,” says Yeoh.

The programme plans to onboard 50+ fintechs, aiming to support those creating real value for Malaysians.

So if you’ve got the drive, the idea, and a fintech product that’s already in motion, The Hub might just be what you need to take it to the next level.