Surfin Meta Digital Technologies, a Singapore-headquartered financial technology solutions provider for the underserved, has announced the successful completion of its oversubscribed funding round.

Woori Venture Partners, Washington University in St. Louis, and Phillip Private Equity participated in this round, bringing total funding to $26.5 million, Surfin said in a statement on Wednesday.

The proceeds will be used to support Surfin’s development into new markets, as well as to expand the company’s research and development initiatives to build a holistic suite of intelligent financial products in these markets.

According to the statement, the latest funding round is a remarkable achievement and milestone from the initial investment of $12.5 million that was led by Insignia Ventures Partners in October 2024.

It is also a reflection of continued investor confidence in Surfin’s business model and its mission to support the unbanked and underbanked in emerging markets.

With this additional capital, Surfin said the firm is well-positioned to build on its capabilities to develop more innovative technologies and build a sustainable digital financial ecosystem.

“I have always believed that financial inclusion is critical towards helping less privileged people who face difficulties to access even the simplest of financial services in emerging markets,” said Dr Yanan Wu, Chief Executive and Founder of Surfin.

According to him, the closing of funding round is a testament to Surfin’s outstanding performance and potential to grow into a truly global fintech company.

“…we believe the investors will provide us with additional guidance and resources with which to take on this challenge,” he added.

Yinglan Tan, Founding Managing Partner of Insignia Ventures Partners, said that having partnered with many fintech companies over the years, it has been rare to find a company like Surfin bootstrapped and grown to scale across multiple markets, having to manage the complexities and nuances of each.

“It has the potential to truly become multi-country and multi-product, a trajectory rooted in the company’s depth of consumer data at scale, which can be harnessed to deliver hyper-local, hyper-personalized financial services,

“Surfin is at the forefront of a wave of companies driving equitable economic growth through data factories rather than physical ones…its mission of financial inclusion for emerging markets has continued to attract the support of global investors,” he added.

Alan Ang, Director of Woori Venture Partners also said Surfin has made remarkable progress in creating an ecosystem of technology-powered financial services across emerging markets such as Indonesia, Philippines, India and Mexico from Singapore.

“Even more impressive, it has done so bootstrapped before the current institutional round. We are looking forward to supporting Surfin in its next phase of expansion,” he added.

Meanwhile, Grace Tang, Chief Executive Officer and Managing Director of Phillip Private Equity, a member company of Phillip Capital Group, said that despite the challenging market environment, the firm has been impressed by Surfin’s continued commitment toward building a sustainable business model while delivering on its vision to bring financial inclusion for the less privileged in the region.

Deng Luming, Chief Executive Officer of Haitong International Securities (Singapore) Pte. Ltd, said that the success of this round reflects the clarity of Surfin’s mission, the strength of its leadership, and the confidence it has earned from respected investors.

“Dr. Wu’s vision to advance financial inclusion through technology is both compelling and urgently needed across emerging markets. We look forward to seeing Surfin continue to scale its impact,” he added.

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