ONEFi

ONEFi

ONEFi's AI provides financial advice and solutions to Gen Z & Millennials based on unique financial circumstances and goals via Open Banking.

Company Details

Location
Hong Kong, Hong Kong
Employees
11-25
Fundraising
Not Fundraising

Management Team

Allen PakChing Lau avatar

Allen PakChing Lau

Founder & CEO

Edwin Lo avatar

Edwin Lo

COO

Learn more

About ONEFi

The problem we're solving:

ONEFi is an AI-powered personal financial management and investment company, with business operations in Asia Pacific.

In the market, 86% of the Millennials don’t know anything about investment and the majority of them live from paycheck to paycheck. It makes 30% of the bankruptcy cases come from millennials in 2019, especially those who own more than 5 credit cards and the average credit card interest rate higher than 30% in the market.

Infact, the open banking and fintech development in APAC is far away from western countries, ONEFi is the first in-house open banking company across Asia.

Our solution:

Utilising the proprietary Open Finance Technology, ONEFi helps clients to integrate their bank accounts and provide financial advisory on spending, investment, debt and even taxation. Several patented technologies & solutions based on open finance and AI are provided to the banks and businesses in the Asia Pacific.

Now, they help their users to aggregate 13 banks and financial institutions in their app. It is expected that 50 financial institutions will be connected on their platforms by the end of this year.

Our differentiator:

Different from the competitors in the market, those participants are using API from saltedge from Euro and there is no space for them to add insurance, pension fund, investment and crypto-wallet. ONEFi built the base on their own and made the machine learning model to auto label the data. They also developed fintech patents regarding investment (HK1237583), debt relief planning (Pending) and taxation (Pending) based on AI and Open Finance.

Our biggest achievement:

Since they launched their B2B solution last October, they have recorded 4.3 Million HKD revenue and more than 10 clients. They have created several solutions on Blockchain, NFT, RPA etc. So far, they have made their seed round fundraising with Standard Perpetual Asset management, who will support the investment licenses in the regions and they are accepted to be in Alibaba HKAI Lab, Fintech award 2020 by ETNET in Hong Kong, admitted by Tencent IEEAC competition and become Top 10 startup, obtained Trust fund license (TC007724).