The Filipino startup, Acudeen Technologies was crowned the Seedstars World Global Winner for 2017 on 6 April 2017, taking home the grand prize of USD$500 000 in investment.
Acudeen beat startups from 65 countries at the pitching competition, held at the SwissTech Convention Centre in Lausanne.
The company was crowned the winner for its solution that turns SMEs’ invoices into cash by discounting their receivables. This solution provides SMEs with working capital that they wouldn’t normally get from banks.
Founder of Acudeen technologies, Mario Jordan “Magellan” Fetalino III elaborated on his win in a press release to Ventureburn.
“Seedstars was an incredible experience. Much more than just money, it gives me access to a community of like-minded entrepreneurs with whom I hope I will collaborate to create a bigger impact worldwide.”
Acudeen Technologies walks away with the grand prize of USD$500 000 in investments
Five other startups also walked away as winners of special prizes:
Co-founder of Seedstars Pierre-Alain Masson also announced a series of initiatives at the summit, some of which include:
Masson also shared his views on the recent announcements.
“We believe it is fundamental that companies access these high growth opportunities and get the first mover advantage, so with the support of partners such as the SPECo, PayU, TRECC, Intel, FedEx, BBVA, Switzerland’s Federal Department of Foreign Affairs (FDFA), pursuing Seedstars’ vision to impact the lives of millions in emerging markets through technology and entrepreneurship, the group will continue to expand our network of physical spaces in the coming months.”
Featured image via Seedstars