KyoPayTechnologies (KyoPay), an online marketplace for invoice receivables that offers a fast, simple, and secure way for businesses in Myanmar to improve cash liquidity. We offer an alternative solution, especially for small- and medium-sized enterprises looking to boost cash flows.


KyoPay connects businesses in need of liquidity to third-party funders willing to invest in an under-utilized asset class.

Using a model proven in emerging markets, KyoPay offers SMEs the opportunity to auction off their invoice receivables from financially-sound clients in order to secure cash for business growth.

KyoPay, the brand name of KyoPay Technologies, a Myanmar-registered joint venture, was founded by Acudeen Technologies Inc. of the Philippines and Anthem Asia (Myanmar) Ltd. in late 2017.

"Kyo Pay" means "pay in advance" in Myanmar language. Our brand is an owl, a symbol of a higher wisdom and strategy, and in Myanmar culture, is a symbol of goodluck.

KyoPay empowers Myanmar-based business owners and operators and helps them thrive amidst the economic challenges and rising competition found in Southeast Asia's newest frontier market.

Board Members and Our Team
Josephine Price

British-born Josephine Price has spent more than three decades working in the investment industry in Asia with a career spanning law, corporate finance and private equity before co-founding Anthem Asia. Ms. Price co-founded the private equity business of CLSA, an Asian investment banking group, now part of Crédit Agricole. She led its pan-Asian private equity mid-market platform for 13 years. She previously worked with Nat West Markets in corporate finance.

Ms. Price has worked at a senior level on investment transactions in China, Hong Kong, Indonesia, India, Vietnam, Taiwan and more recently Myanmar. Her sectoral experience includes fast-moving consumer goods, food & beverage, services and light industry.

Genevieve Heng

Experienced finance and investment professional with a background in private equity, venture capital, investment banking and information technology.
Successfully sourced and directed investments into mid-market companies, led the value add, monitoring and divestment phases. Have worked on private equity deals in South East Asia, India and China. Currently involved in venture building and growth capital in Myanmar.
Specialties: Private Equity, Growth Capital, Venture Capital, Investments, Acquisitions, Valuation, Structuring, Due Diligence, Portfolio Monitoring, Emerging Markets

Mario Jordan Fetalino III

Mr. Mario Jordan "Magellan" Fetalino III is the Founder and CEO of Acudeen Technologies, Inc., an online peer to peer marketplace for receivable discounting in the Philippines, winner of Seedstars Global 2017 & Founder Institute's Best Global Fintech 2017, and regarded by IDC as one of the Top 10 fastest growing fintechs in the Philippines.
He is currently a Member Board of Trustee of Fintech Alliance Philippines and a Board Director of the Philippine Association for Digital Commerce and Decentralised Industries (PADCDI). He also used to serve as the Chairman of the Board of The Global Filipino Investors, one of the biggest financial education companies in the Philippines.

Joseph De Leon

Over 10 years of experience in partnering with local, regional and global clients to achieve enduring brand and business results.
Currently the Director & Venture Strategy Consultant of Gravitas Prime.

Larry Tin
Executive Chairman

More than 15 years in the banking sector in Myanmar. Long standing relationship with the Central Bank, the state and private financial institutions, various Ministries and government agencies.

Riza Cuartero
Chief Operating Officer

3 years direct exposure and work experience to the Philippine Fintech landscape. Was previously the Head of Operations of Acudeen Technologies (KyoPay's parent company) before taking up a lead role in its Myanmar expansion. Primary expertise are in Risk Management, Internal Controls, and Strategic Planning.

Ashish Trivedi
Chief Executive Officer

Founder at NuZay and GeckoLife. Director of Technology Innovations at Ayuroma International. Ashish is focused on harnessing cutting edge technology solutions, from early stage setup to product development, marketing and rollout, for emerging markets including Myanmar. Ashish’s areas of concentration include user experience based concept creation, startup leadership, channel development, strategic investments, partnerships and business development, advertising & media development, product management. IT-based investment analysis, product marketing, management and segment growth, and the management of P&L and new business development teams for IT infrastructure projects. Ashish has held leadership positions in Lucent Technologies, NAVTEQ and NOKIA, and has founded several startups including GeckoLife and Nuzay. A US citizen and Singaporean permanent resident, Ashish holds an MBA from the Illinois Institute of Technology, Chicago, Illinois, USA

Myat Su
Business Development Director

Solid business knowledge of financial industry, resourceful and possess exceptional management
skills. Have extensive track record of project management and establishing service and sales
relationship. During her tenure with Citi, she led the team to develop and sustain programs that
generate payout for approximately 350 sales force members.

Nang Eaint Nandar
Relationship Officer

Nang was appointed a Relationship Officer of KyoPay Technologies in August 2018. Graduated in Bachelor of Business Management (BBM) and completed Master of Business Administration (MBA) in early 2019.
As a relationship officer, Nang is responsible for maintaining positive relationships with investors and stakeholders by collaborating with company's internal team. She serves as the key point of contact for investors on a real time basic. Key in handling Funders, offering help and advice on various invoice buying related queries.

Aye Sandar Kyaw
Account Officer

Sandar had 2 years experience in SME Development Sector as a Surveyor. She graduated from Dagon University in 2014 with Bachelor of English. She also had Diploma in Information Technology and Diploma in English from Yangon University. She is currently working as an Account Officer in Kyopay. Her main responsibility is to communicate with the clients who want to sell receivable invoices via Kyopay online platform and to maintain positive relationship between clients and internal team. And Sandar serves the clients to be used Kyopay services easily till the end.

Ei Ei Mon
Research Officer

Ei Mon is graduated from National Management Degree College in 2015 with a degree Bachelor of Business Management and then joined the MBA program in 2016 in the Yangon University of Economics before starting her career in Research Officer to conduct data collection and analysis effort. Ei Mon began her journey as an intern at KBZ and AGD Bank and then as a credit analyst at UAB Bank. As a research officer in KyoPay, Ei Mon is responsible for Market Research on clients and business partners mainly for their credit awareness to support daily operations.

Hnin May Yan
Operations Officer

Assigned as Operations Officer at KyoPay since July, 2018 and responsible for supervise all data processing activities including system analyzing, risk control and coordinate in developing operational policies and procedures.
Prior to joining KyoPay, she was served over 3years at Securities Firm in reputable companies. Strong acknowledged in securities business and investment policies and experienced in technical support and problem solving.
She hold a bachelor’s degree in Electronic Communication and graduated from Thanlyin Technologies University and her passion is learning new things and self-challenging.

Aung Ye Htut
Operations Officer

Ye Htut was appointed as the Operations Officer for KyoPay Technologies in 2019. He joined the Co-Operative Bank in 2015 and had over 3 years’ experience in banking industries. He graduated with a Bachelor of Engineering (Mechanical Power) from the Technologies University (Hmawbi) and also a candidate of Master of Banking and Finance program at Yangon University of Economic.

Aung Aung Oo
Senior Graphic Designer

Aung have been working in design area for 5 years. Aung have got diplomas in Graphic Design, Character Animation & Editing from DIP C.A. His skills are Graphic Design, Branding, Photographing, Web designing, Video Editing, 2D and logo animation and Branding teaser. For now, Aung is working as graphic designer in Kyo Pay as a graphic designer of Kyo Pay, Aung creates design for Flyers, Facebook Posts, Web, Events , and Mailchimp . and also video editing.

Min Htet Swam
Marketing Associate

Appointed as Marketing Associate for KyoPay Technologies in 2020, Min Htet Swam is responsible for Strategic Planning and Execution of both Online and Offline Marketing Initiatives, Managing Corporate website and Social Media accounts, Handling Public Relations and Corporate Communications and Planning and Execution for product promotions. Before Joining KyoPay, he began his journey as a Real Estate Assistant at local Estate Agency and then as a Sales and Marketing Associate at EventInsider and has adequate expertise in Event Management.


KyoPay as the leading and most accessible platform in providing liquidity for SMEs using movable assets and technology.


To build sustainable alternative solutions to liquidity for SMEs, offer attractive investment opportunities for investors, and create value to shareholders through our marketplace model for invoice discounting

Core Values

KyoPay’s core values are embedded in its culture, its service, and its value to its customers and shareholders. The values are strongly upheld and observed by the company’s management, employees, and its partners.

Our team is Resilient: by having the ability to quickly pivot to emerging changes in the market and in technology, we can rapidly adapt to become the forefront of reconstructing the current financial system to a more financially inclusive environment.

We promote the decentralization of information for the sake of an improved and an enlightened decision making process through the Transparency of our platform. And to become a Trustworthy source of information for all.

Our solutions are built through Collaborative discussions with our stakeholders to create Innovative concepts and ideas that break through standardized financing and investing.

We show Compassion to all those who wish to use our solution for the purpose of business growth and development while ensuring Fair treatment to other market participants. Lastly, we aim to show the utmost Respect towards the members of the Company and its associated businesses.

Partners and Advisers
Martin Edwards

Extensive Asian Business Development / Management experience. (23 years in Asia.)
Practical Middle East knowledge (3 years running Corporate Client activity in Yemen).
Significant Commodity / Trade Finance Track record.
Solid Corporate Banking Background
Proven Entrepreneurial flair (ran own singapore based financial consulting company for 5 years)
Qualified Company Secretary
37 Year Corporate Banking track record in Europe, Asia and Middle East. Specific focus on Commodity and Trade Finance.
Commodity and Trade Finance.

May San Pwint
Legal Advisor

Legal consultant and advisor for legal and risk compliance. Legal Steps Legal Consulting Limited has been operating in Myanmar for more than 9 years.

Anthem Asia Limited

Anthem Asia can supply support for the first phase through access to its portfolio companies, such as Hintha Business Centres and its marcoms businesses (Revo, Xavey, Blink and Zagar).

Acudeen Technologies

Acudeen started off in 2016 and has since then helped micro, small and medium-sized entities (MSMEs) to finance their 30-120 day receivables ahead of time.
In less than two years, invoices totaling over US $2.4m has changed ownership and provided liquidity to over 400 MSMEs. Individuals and corporates purchasing those invoices benefited from attractive returns for short-term cash. The early success and its economic impact in emerging markets has been recognized with numerous rewards, incl. being named Winner of the Global Seedstars Summit 2017. With recent market entry into Myanmar, Acudeen embarked on an ambitious expansion plan and will operate in four markets before the end
of the year.