Malaysia’s fintech scene has once again proven its strength on the regional stage, with Soft Space Sdn Bhd and Versa earning coveted spots on the Forbes Asia 100 to Watch 2025 list. The recognition puts both companies alongside some of the Asia-Pacific’s most promising startups and small firms, each demonstrating strong innovation, resilience, and market potential.
Soft Space: Pioneering Contactless Payments
Founded in 2012 and headquartered in Kuala Lumpur, Soft Space has steadily built a reputation as one of Southeast Asia’s most innovative fintech firms. Under the leadership of CEO Joel Tay, the company is best known for SoftPOS, its flagship point-of-sale technology.
SoftPOS allows merchants to accept contactless payments directly through their smartphones, eliminating the need for bulky and costly hardware. The solution is not just convenient but also scalable, supporting QR code payments, e-wallets, real-time analytics, and fraud detection tools.
In recent years, Soft Space has pushed beyond Malaysian borders. In 2024, it formed a capital alliance with Japan’s GMO Financial Gate, enabling its SoftPOS technology to be deployed in one of the world’s most cash-heavy markets. Earlier, in 2023, the company raised US$31.5 million in a Series B1 funding round, led by Singapore’s Southern Capital Group, cementing investor confidence in its growth trajectory.
Soft Space now serves more than 90 financial institutions and partners across 30 global markets, with clients ranging from Commonwealth Bank of Australia to Kasikornbank in Thailand. With its growing patent portfolio and “Fintech-as-a-Service” ambitions, the company is positioning itself as a global leader in embedded finance, helping banks, fintechs, and enterprises embrace the shift toward a cashless society.
Versa: Wealth Management for Everyday Malaysians
While Soft Space is reimagining payments, Versa is transforming how Malaysians manage and grow their wealth. Founded in 2021 by CEO Teoh Wei-Xiang, Versa offers a digital wealth management platform where users can invest in both conventional and Shariah-compliant funds, track their savings, and access retirement planning tools.
Versa made history as the first e-service platform licensed by Malaysia’s Securities Commission. Its appeal lies in simplicity: a mobile-first approach that allows everyday Malaysians, not just seasoned investors to access wealth-building opportunities.
The platform has grown quickly, boasting over 300,000 users, a sign of strong demand for accessible investment products. In March 2025, Versa raised RM30 million (US$6.8 million) in a Series A round led by AHAM Asset Management, strengthening its ability to scale offerings.
Versa’s traction has also been fuelled by attractive promotions. Notably, in August 2025, it rolled out a campaign offering 4% p.a. fixed returns for new users, further demonstrating how fintechs can democratise wealth-building tools for a younger, mobile-savvy generation.
The Forbes Asia 100 to Watch: A Regional Benchmark
Now in its fifth edition, the Forbes Asia 100 to Watch list spotlights 100 small companies and startups across 16 markets in the Asia-Pacific. The 2025 cohort collectively raised nearly US$3 billion, reflecting an ecosystem that is vibrant despite recent volatility in global venture capital.
India leads this year’s list with 18 companies, followed by Singapore and Japan with 14 each. Other strong players include China (nine), Indonesia (eight), South Korea (eight), and Australia (seven).
To qualify, companies must be privately owned, for-profit ventures with less than US$50 million in revenue and no more than US$100 million in total funding. Each nominee was assessed on innovation, industry impact, and ability to attract capital.
A Malaysian Success Story: Forbes Asia 100 to Watch Recognition
The inclusion of Soft Space and Versa in the Forbes Asia 100 to Watch 2025 highlights Malaysia’s growing reputation as a regional fintech hub. For Malaysia, having two companies recognised by Forbes Asia signals that its fintech ecosystem is maturing, with local players able to compete and collaborate on a global stage.
As Soft Space builds the future of payments infrastructure and Versa makes wealth management accessible for all, their stories show how Malaysian innovation continues to shine brightly across Asia, earning well-deserved recognition from Forbes Asia.
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