PRNewswire
Luxembourg, January 22: The Luxembourg House of Financial Technology (LHoFT) announces the second edition of Catapult: Inclusion Southeast Asia, an acceleration program dedicated to advancing financial inclusion across the ASEAN region. In partnership with the Asian Development Bank (ADB), this year's program will take place at the 5th Asia Finance Forum in April 2025, highlighting Luxembourg's commitment to fostering innovation and sustainable development in emerging markets.
Building on Success: A New Chapter for Financial Inclusion
The second edition of Catapult: Inclusion Southeast Asia will convene fifteen of ASEAN's most promising fintech startups, selected for their innovative solutions addressing financial accessibility challenges in their regions. The program will kick off in Manila, Philippines, from April 7 to 11, 2025, with a dynamic agenda of workshops, networking events, and mentoring sessions. The journey continues in Luxembourg from June 16 to 20, 2025, offering participants the unique opportunity to integrate into the global financial ecosystem.
"Catapult Southeast Asia: a must on the calendar of any startup looking to scale and make a significant impact. The program opened our eyes about the potential of our business in growing not only within our country but also creating more impact to the entire region." says Vincent Roy Mendoza, CEO Farmvocacy from the Philippines, one of the standout Fintechs awarded in the inaugural cohort in 2024.
Luxembourg's Leadership in Financial Inclusion
For over a decade, Luxembourg has been at the forefront of sustainable finance, allocating 1% of its Gross National Income (GNI) to Official Development Assistance (ODA) and hosting most of the world's microfinance investment vehicles. The Catapult program builds on this commitment, with over 100 fintechs from emerging markets in Africa and Asia having already participated in its previous editions.
A Partnership to Drive Transformative Impact
The collaboration with the Asian Development Bank (ADB) represents a significant advancement in enhancing the influence and effectiveness of Catapult: Inclusion Southeast Asia. With ADB's extensive expertise in fostering social and economic development across Asia and the Pacific and the LHoFT Foundation's global network and fintech innovation platform, the partnership is uniquely positioned to empower startups. Together, the initiative aspires to boost scalable solutions that address pressing financial inclusion challenges, driving meaningful and sustainable change across Southeast Asian communities.
ADB plays a vital role in regional development by utilizing loans, grants, and technical assistance to foster inclusive growth and eliminate poverty in a region where 263 million people survive on less than $1.90 a day. Its collaborative strategy--mobilizing financial resources and facilitating policy discussions--perfectly aligns with the LHoFT Foundation's goal of creating inclusive financial ecosystems.
Christine Engstrom, Senior Director Finance Sectors Group at ADB, stated, "The Asian Development Bank is proud to continue collaborating with LHoFT whose efforts have been pivotal in fostering fintech innovation and creating inclusive financial systems. We are committed to empowering fintech startups and fostering sustainable growth in the region through initiatives like Catapult: Inclusion Southeast Asia. We want to recognize the significant contributions of the Luxembourg Ministry of Finance, whose unwavering support for the Financial Sector Development Partnership Special Fund has been instrumental in driving financial inclusion and innovation across Southeast Asia."
The LHoFT Foundation, a public-private partnership based in Luxembourg, promotes fintech innovation by linking global startups with talent, expertise, and market opportunities. Its collaborative efforts with governments, regulators, and financial institutions cultivate an environment conducive to advancing financial inclusion worldwide. Together, ADB and LHoFT create a powerful synergy in this program, driving impactful solutions for underserved communities.
LHoFT CEO, Nasir Zubairi, expressed, "Catapult: Financial Inclusion Southeast Asia has demonstrated the power of fintech to bridge markets and foster sustainable growth. This program underscores Luxembourg's commitment to being a pivotal hub for global financial innovation and inclusion."
A Program Designed for Growth and Collaboration
The 2025 edition will include tailored workshops, pitch sessions, and mentorship led by industry experts from the financial services, microfinance, and fintech sectors. The program offers unique access to crucial resources and networks, allowing startups to enhance their solutions, attract investment, and build strategic partnerships.
Catapult: Inclusion Southeast Asia not only strengthens fintech ecosystems within ASEAN but also connects them with Europe. By fostering cross-regional collaboration, the program provides the platform for impactful, scalable financial technology initiatives that address the diverse needs of underserved populations.
APPLY by February 23, 2025 to be part of the 2nd Cohort.
The LHoFT and the ADB invite fintech startups that are actively advancing financial inclusion in Southeast Asia. Eligible companies must demonstrate a commitment to serving underserved and unbanked populations by providing them with access to innovative financial products and services. Eligible sectors include AgriTech, InsurTech, Digital Payments, Microfinance, Green Finance, RegTech, and more.
Applicants should be based in or active within Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, or Vietnam. Companies must be incorporated or registered, with a business stage ranging from MVP or prototype to generating revenues with paying users. Funding stages from pre-seed to Series B are accepted.
Follow us on LinkedIn for updates throughout the program:
www.linkedin.com/company/the-lhoft
Application and Eligibility
Fintech startups focused on sectors such as AgriTech, InsurTech, Digital Payments, Microfinance, Green Finance, and more, are encouraged to apply. The program is open to companies based or active in Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
Apply by February 23, 2025: https://shorturl.at/PFMkB
Learn More about the program: https://lhoft.com/catapult-inclusion-southeast-asia-2025/
Read about last year's edition: https://lhoft.com/insights/catapult-inclusion-southeast-asia-concludes/
About the LHoFT Foundation
The LHoFT Foundation is a public-private sector initiative that drives technology innovation for Luxembourg's financial services industry, connecting the domestic and international fintech community to develop solutions that shape the world of tomorrow. The LHoFT Foundation offers an innovation platform that provides fintech startups with access to talent, expertise, funding, and market opportunities. The LHoFT Foundation also works with government agencies, regulators, and industry associations to foster a supportive and inclusive fintech ecosystem in Luxembourg.
For more information, please visit: https://lhoft.com/
For more details, contact us at info@lhoft.lu
Follow us on Twitter: @The_LHOFT
Follow us on LinkedIn: www.linkedin.com/company/the-lhoft
About the Asian Development Bank (ADB)
The Asian Development Bank (ADB) is a regional bank that envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region. Despite the region's many successes, it remains home to a large share of the world's poor: 263 million living on less than $1.90 a day and 1.1 billion on less than $3.20 a day.
ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development. ADB maximizes the development impact of its assistance by facilitating policy dialogues, providing advisory services, and mobilizing financial resources through co-financing operations that tap official, commercial, and export credit sources.
For more information, please visit: https://www.adb.org/
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