Tryb wants to be the thread that ties the Southeast Asian fintech ecosystem together

Image credit: Andre Gunawan, Tech in Asia.

When it comes to industry trends in Singapore’s startup ecosystem, fintech is definitely a step ahead of the rest. Startups getting involved in the financial space try to use cutting edge technology to either offer alternatives to current financial systems or integrate with them to reach more customers.

It’s this latter side of the trend that seems to be increasingly prevalent. Fintech startups started out trying to “disrupt” the finance industry, but it increasingly looks like they’re better off working with the establishment they once dreamed of overthrowing.

Banks like DBS and OCBC are launching their own startup accelerator programs, looking for startups to develop innovative financial technology projects for them. UOB recently invested in equity crowdfunding investment site OurCrowd.

It’s at the scorching, molten point where the startup world and the financial establishment meet that a new partnership wants to bang things into shape and help them fuse. That’s the mission of Singapore-based Tryb.

Financial pedigree

Tryb (pronounced “tribe”) consists of instantly recognizable names in the country’s fintech and finance spaces. Partner and co-founder Markus Gnirck is the former COO of fintech accelerator Startupbootcamp Fintech Singapore, and an entrepreneur. Partner and co-founder Veiverne Yuen comes from the private equity sector, having worked for investment firm GIC and the Monetary Authority of Singapore, among others.

Tryb chairman and co-founder Magnus Böcker needs no introduction to anyone with knowledge of international financial markets. For the rest of us, he is the former CEO of the Singapore Exchange and was previously president of NASDAQ. He also spearheaded OMX, the Nordic exchange and technology group that was acquired by NASDAQ in 2008.

Finally, vice-chairman and co-founder Nels Friets is an investor, consultant, and a veteran of the finance industry, having gone through, among others, investment banking company CLSA and sitting on several advisory boards in Singapore.

The Tryb partners (from L to R): Magnus Böcker, Veiverne Yuen, Markus Gnirck, Nels Friets. Photo credit: Tryb.

The team’s expertise combines the new, startup-born fintech approach with the older establishment, the regulatory side, and even the nascent forms fintech took before the latest startup boom.

“Markus has the relationships with the startups,” Veiverne tells Tech in Asia. “I’m providing that asset management layer, Nels understands the ins and outs of the system as he’s worked in both private and public markets, and Magnus built the technology underpinning every single exchange in the world today. I think from an operational standpoint, from a strategy standpoint, it’s quite a unique proposition.”

Building bridges

Tryb aims to be a bridge between fintech startups and the finance industry by offering a variety of services including advisory, capital, and direct engagement with companies. It represents a pool of partnership capital with a long term investment strategy. The partnership plans to work with businesses, regulators, and incumbents to help companies grow and build partnerships in the financial space.

Tryb aims to be a bridge between fintech startups and the finance industry.