Vircle

Vircle is a Fintech startup based in Malaysia that aims to address the health and well-being of children through its innovative and inclusive fin-tech propositions. The company's solution enables consumers to create communities of controlled cashless commerce with a focus on society's health and well-being. The concept behind Vircle originated from the founder's need to have visibility and control over the food his children were consuming at school. It is based on the concept of entitlements from the digital media industry, aiming to bring transparency, visibility, and control between a provider and dependent. Vircle has been designed as a cashless school and a Peer to Peer subsidy solution, where the provider entitles beneficiaries with consumption entitlements, such as cash value or specific items like healthy food and groceries, based on digital entitlements. The actual cashless payment takes place in the background when the consumption happens, providing providers with visibility of consumption. The startup has tested its concept with a wide range of stakeholders, including schools, school canteens, parents, eWallet players, government and non-governmental agencies, receiving strong support. Vircle is set to go into trials in July with a planned launch in Q4/2019. The startup recently secured a Seed Round investment on 31 October 2023 from Gobi Partners and Kumpulan Modal Perdana. This investment signifies a significant step forward for Vircle as it moves towards its planned launch and further development.