FOMO Pay, a regulated major payment institution based in Singapore, has raised a $13 million Series A round led by Jump Crypto.
Other investors in the round include HashKey Capital, Antalpha Ventures, Ab Initio Capital, and Republic Capital.
FOMO Pay provides a host of Fintech services, including:
- FOMOPayment – One-stop digital payment solution for merchants, corporates, and Financial Institutions
- FOMOiBank – Facilitate businesses’ everyday requirements for transactional banking needs
- FOMOCrypto – Asia’s first licensed gateway bridging between crypto and fiat
FOMO Pay is licensed by the Monetary Authority of Singapore (MAS) to conduct Cross-border Money Transfer Service, Domestic Money Transfer Service, Digital Payment Token Service, and Merchant Acquisition Service.
The company said it will use the new money to invest in talent and infrastructure as well as geographic expansion.
FOMO Pay added that it would seek to diversify its product offerings following the crypto adoption curve, including working closely with regulators on Central Bank Digital Currency (CBDC) projects.
Louis Liu, founder and CEO of FOMO Pay shared the following statement:
“2022 has so far been a breakout year for FOMO Pay – we are seeing significant growth across all business lines. Our volumes for the first half of 2022 have already surpassed the full year 2021 levels and our client pipeline is extremely strong. We attribute this success to the hard work of our team and their effort to always put customers first.”
Liu said that as they turn eight years old they will continue to pubild Asia’s first licensed payment ecosystem with crypto and fiat interoperability:
“We are extremely proud and grateful to be one of the front-runners in this industry in Singapore. Singapore has been at the forefront of innovation with a world leading licensing and regulatory framework. Our goal is to work in harmony with all stakeholders, on both developmental and regulatory approaches to achieve the vision of Singapore as an innovative and responsible global digital asset hub.”
Founded in 2015, FOMO Pay is a Fintech offering solutions helping institutional clients connect to e-wallets, credit cards, cryptocurrencies, and more with its global banking solutions. Today, FOMO Pay claims to be one of the largest digital payment and banking solution providers, servicing several thousands of clients across Web2 and Web3 industries.
FOMO Pay has announced several strategic partnerships with firms such as Circle, Acentrik (by Mercedes-Benz), Ripple, and others.
Tak Fujishima, Head of Asia for Jump Crypto – the digital assets arm of the Jump Trading Group, commented:
“FOMO Pay has established its firm footing as a leading local digital payment and banking solution provider which we believe is the future gateway for financial services. The financial technology space is rapidly evolving and we believe FOMO Pay will continue to be a leading innovative player in this space in creating a seamless and secure payments ecosystem.”