Nearex Selected as a 2016 Red Herring Top 100 Asia Winner

Singapore, Singapore, October 12, 2016 (Newswire.com) - ​Nearex, a Singapore technology start-up that’s rapidly emerging as a category leader in the mobile micropayment domain, announced that it is has been selected as a Red Herring Top 100 Asia Company.

“We are honored to be included in the prestigious Red Herring Asia 100,” said Mayank Sharma, CEO, Nearex. “This award further establishes Nearex’s position as a leader in the Micropayment domain where its Xip solution has proven that it is all set to drive financial inclusion of millions of small merchants across emerging markets and make small daily cashless payments a reality with smart use of fast growing mobile money and mobile wallets.”

We are honored to be included in the prestigious Red Herring Asia 100. This award further establishes Nearex's position as a leader in the Micropayment domain where its Xip solution has proven that it is all set to drive financial inclusion of millions of small merchants across emerging markets and make small daily cashless payments a reality with smart use of fast growing mobile money and mobile wallets.

Mayank Sharma, CEO

Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.

“In 2016, selecting the top achievers was difficult as always,” said Alex Vieux, publisher and CEO of Red Herring. “The variety, depth, disruption and traction we saw from the early stage companies to those with significant scale made 2016 a great vintage to judge. The Asia winners are representative of the amazing ecosystem that never ceases to astound, with new and experienced entrepreneurs continuing to push the barriers of innovation. As one of the winners, Nearex should be proud of its accomplishment.”

Red Herring’s editorial staff evaluated companies on both quantitative and qualitative criteria, such as financial performance, technological innovation and intellectual property, DNA of the founders, business model, customer footprint and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.

About Red Herring: Red Herring is a global media company, which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums, including print, online and exclusive events worldwide.  Red Herring provides an insider’s view and access to the global innovation economy, identifying new and innovative technology companies and entrepreneurs.

About Nearex: Nearex is a fast growing Fintech company, providing a breakthrough cashless payment technology that’s revolutionizing mass payments across emerging markets. Founded in December 2012, by professionals from the mobile and fintech industry, Nearex created Xip to take on the challenge of making electronic payments as simple and easy to use as cash, and most importantly, affordable enough to use for the smallest merchant in any country. Nearex has its product development base in Bangalore, India and manufacturing in Shenzhen, China. Xip has grown rapidly, with market research and extensive pilots lasting over a year, from a mere concept to a payment system that’s touching lives in the many countries where it is deployed today. Nearex’s investors include Tata Capital, Beenos Asia and Xinvesco. Nearex is founded by a professional team with extensive experience in mobile and fintech domain. It is funded by Tata Capital, Beenos Asia, and Xinvesco.

For further information, please contact: 

Raj Kesarimall, Chief Marketing Officer
Phone: +91 98450 09881, E-mail: [email protected]

Source: Nearex Technologies Pte Ltd