In August 2020, Finterra Technologies Sdn Bhd (Finterra) has signed a Memorandum of Understanding (MoU) with Kanzun Ventures Management Sdn Bhd (‘Kanzun Ventures”) which will facilitate and build-on enhancing existing joint activities between the two organizations.
The signing ceremony, which took place at Finterra’s Kuala Lumpur (Malaysia) office, saw Managing Director, Satesh Khemlani and Founder, Hamid Rashid representing Finterra, while Kanzun Ventures was represented by its Co-Founder, Wan Fara Ayu W. Ahmad and Director Ainur Mardhiah Binti ‘Azra’i.
With the signing of this MOU, both Finterra and Kanzun Ventures will work towards the common goals of building each other’s businesses through fundraising, project financing, technology projects, industry trainings and through establishing collaborative strategic partnerships with leading organizations both locally and internationally.
The announcement on the MoU was made by Finterra’s Managing Director, Satesh Khemlani, according to whom, “Finterra is incredibly happy to collaborate with a dynamic and enabling Venture Capital outfit like Kanzun Ventures. This cooperation is definitely in line with our vision, future development strategies and will enable us to leverage on Kanzun Ventures’ expertise to further develop the Finterra brand name”.
Satesh further added that “through this MoU, Finterra will be able to leverage on Kanzun’s competitive advantages, experiences and worldwide network strength to support Finterra’s own high-quality technology delivery services, sustainable development outcomes in Malaysia and other neighbouring countries.
Meanwhile, according to Ms Wan Fara Ayu W. Ahmad, Kanzun Ventures’ Director & Co-Founder, “this MoU acts as a Catalyst that will Synergize the Role of Fintech and AI in our Fund’s Approach and marks our support and movement into the Tech Space. It will further define our position as an ecosystem player that promotes the Progress of the Nation through collaborative engagements with important stakeholders and leading Fintech Companies such as Finterra. Kanzun supports the advancement of technology via Islamic venture capital, the development of SME’s through venture building, funding, advisory services, and commercialization channels. It is envisioned that the symbiotic relationship between Kanzun and Finterra will create multiple positive synergistic social and economic impact that will benefit nations worldwide.