Tagged: singapore

May 15, 2020 @ 8:12 am By JD Alois  |  

  Singapore based Fintech Spark Systems has closed on a “Series BB” funding round raising S$15m (USD $10.5m). The funding comes from Citi and HSBC as well as OSK Ventures. They will join the existing investor base including; Vickers Venture, Dymon Asia Ventures, Dymon Asia… Read More

May 14, 2020 @ 7:28 pm By JD Alois  |  

The Libra Association has added three new members: Temasek, Paradigm, and Slow Ventures. Launched by Facebook, the Libra Association is a Switzerland-based independent entity seeking to launch a blockchain-based payment system. Recently, Libra tweaked its white-paper backing away from its original intent to launch a… Read More

May 13, 2020 @ 9:44 pm By Omar Faridi  |  

Singapore-headquartered Validus, a financing platform focused on SMEs, has secured more than $14 million in funding, with $20 million in committed capital, from a Series B+ investment round. Validus’ round was co-led by Kuok Group’s Orion fund (managed by K3 Venture Partners) and the Vertex… Read More

May 13, 2020 @ 10:45 am By JD Alois  |  

The Monetary Authority of Singapore (MAS), Singapore Fintech Association (SFA), AMTD Group (NYSE: HKIB; SGX: HKB) and AMTD Foundation have joined in announcing a S$ 6 million “MAS-SFA-AMTD Fintech Solidarity Grant.” The new grant is designed to support Singapore based Fintech firms during the Coronavirus… Read More

May 6, 2020 @ 9:43 pm By Omar Faridi  |  

Fintech firm Nium revealed on May 5, 2020 that it had managed to secure a new round of equity funding. The company’s round received contributions from new investors BRI Inventures, the corporate venture division of Bank BRI of Indonesia, and payments giant Visa. Nium’s latest… Read More

May 6, 2020 @ 7:52 pm By Omar Faridi  |  

Singapore-based digital security firm V-Key announced on May 5, 2020, that it will be the official mobile security partner of TONIK Bank, which is an all-digital bank that is expected to launch in the Philippines later this year. V-Key will aim to offer a secure… Read More

May 5, 2020 @ 11:02 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator,  confirmed recently that it would be supporting the inaugural G20 TechSprint initiative, which has been introduced by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency on the… Read More

May 4, 2020 @ 7:04 pm By Omar Faridi  |  

  SS&C, a multinational provider of investment and financial services and software for the financial services and healthcare sectors, will be acquiring Innovest Systems, a wealth management technology (Wealthtech) firm, for $120 million in cash and stock. New York-headquartered Innovest Systems offers cloud-powered technology for… Read More

April 30, 2020 @ 10:00 am By JD Alois  |  

Fireblocks reports having topped $30 billion in digital asset transfers and over $7 billion in monthly transfers, according to a company release. Fireblocks is an enterprise-grade platform providing the infrastructure for moving, storing, and issuing digital assets. Fireblocks seeks to enable exchanges, custodians, banks, trading… Read More

April 29, 2020 @ 9:59 am By JD Alois  |  

Incomlend, a global online invoice trading platform, has been recognized at the Global Trade Review (GTR) Leaders in Trade Awards 2020 as the “Best Fintech Startup”. GTR recognizes global top-performing companies in trade, commodity, supply chain, export finance, and fintech markets. Since launching in December… Read More

April 28, 2020 @ 8:49 pm By Omar Faridi  |  

Fintech firm Helicap has secured $10 million in capital through a Series A investment round led by Saison Capital, the corporate venture capital division of Credit Saison, a Japanese consumer finance company. Helicap’s fundraise consisted of equity and redeemable preference share financing. Existing investor East… Read More

April 26, 2020 @ 5:05 pm By Omar Faridi  |  

An increasing number of consumers are now staying indoors and working from their homes, due to the deadly and highly contagious Coronavirus (COVID-19) outbreak. There’s reportedly been a steady growth in digital wealth and online banking solutions and services are increasingly being used, even by… Read More

April 25, 2020 @ 2:47 pm By Omar Faridi  |  

Singapore-based Axinian, an insurance technology (Insurtech) firm, has reportedly finalized its Series A+ investment round. To date, the company has secured $16 million in capital for its ongoing growth and development. Axinian’s funding round was led by InVent, the corporate venture capital division of Intouch… Read More

April 25, 2020 @ 9:31 am By Omar Faridi  |  

The Singapore Fintech Association (SFA) and Razer Fintech will reportedly be offering Financial technology firms in the city-state bridge financing, equity or equity-linked instruments, which will range from anywhere between $100,000 to $1.5 million (appr. S$143,000 to S$2.1 million) According to an April 23, 2020… Read More

April 21, 2020 @ 1:35 am By Omar Faridi  |  

Singapore-based remittance firm TranSwap is reportedly holding discussions to secure $5-10 million in capital. Benjamin Wong, co-founder and CEO at TranSwap, confirmed that the cross-border payments company is planning to close its investment round “quite soon”. As reported by e27, the Fintech firm has acquired… Read More

April 20, 2020 @ 10:27 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has launched a new lending facility to make certain SMEs have access to capital to mitigate the impact of the COVID-19 pandemic. The MAS SGD Facility for ESG Loans is in partnership with Enterprise Singapore (ESG). The goal is… Read More

April 20, 2020 @ 7:58 am By Omar Faridi  |  

Singapore’s tax authority, the Inland Revenue Authority of Singapore (IRAS), confirmed that it will not be collecting taxes on airdropped cryptocurrency, provided that the recipients get them  for free. As noted in an income tax treatment guide, released on April 17, 2020, the IRAS clarified… Read More

April 17, 2020 @ 10:13 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) is telling customers of financial institutions to stop going to brick and mortar locations during the COVID-19 pandemic. MAS is urging consumers to use digital, email, and telephone channels as far as possible. Of course, MAS is telling the… Read More

April 16, 2020 @ 9:13 pm By Omar Faridi  |  

The Oversea-Chinese Banking Corporation, Limited (OCBC) Bank (SGX: O39), a multinational banking and financial services corporation, has reportedly become the first company to introduce Google Pay’s peer to peer (P2P) money transfer service in Singapore. The new digital payments option makes Singapore only the third… Read More

April 14, 2020 @ 12:19 pm By Samantha Hurst  |  

Dutch multinational banking and financial services group Rabobank announced on Monday it has collaborated with global agriculture supply chains Cargill and Agrocorp to completed a cross-continent commodity trade transaction of wheat from North America to Southeast Asia on a blockchain platform provided by Singapore-based dltledgers…. Read More