FinTech
Grab-led digibank consortium to focus on local micro-SMEs, gig economy workers
Grab Holdings Limited said Friday that the digital bank consortium comprising GXS Bank Pte. Ltd., its digital bank joint venture with Singapore Telecommunications Limited (Singtel), and Malaysian investors including Kuok Brothers Sdn. Bhd, is expected to enable local micro-small and medium enterprises (SMEs) and other financially underserved segments such…
Vietnam’s Trusting Social raises $65M Series C round from Sherpa
Vietnamese FinTech firm Trusting Social announced Thursday an investment of $65 million in the group from The Sherpa Company Limited (Sherpa), a subsidiary of Masan Group Corporation, for the initial close of its Series C round. It also announced a strategic collaboration between Trusting Social and Masan intends to develop an artificial intelligence…
Singapore Finbots.AI raises $3M from Accel in Series A round
Finbots.AI, a Singapore-based FinTech firm, announced Thursday it has raised $3 million in a Series A round from Accel. The funds will be used towards accelerating product enhancement, marketing and sales, and customer support besides recruiting of senior talent and team expansion across its offices.
Singapore FinTech firm Nium to acquire alternative payments network platform Socash
Nium, a Singapore-based platform for modern money movement, announced Tuesday a definitive agreement to acquire Socash, a Singapore-based alternative payments network platform. The acquisition provides Nium with the team and technology to enable multiple forms of local payment acceptance for digital commerce, especially in emerging markets.
Funding Societies co-invests with Carro in Indonesia’s Bank Index
Funding Societies (also known as Modalku in Indonesia), a Singapore-based small and medium enterprises (SME) digital financing platform, on Tuesday officially announced its investment into Bank Index (PT. Bank Index Selindo), an Indonesian national Bank, alongside Carro, a Southeast Asian automotive marketplace platform.
WeLab Bank becomes Hong Kong’s first virtual bank to offer digital wealth advisory solutions
WeLab Bank, the virtual bank of Hong Kong's FinTech firm WeLab Holdings Limited (WeLab), said Monday it has become the first virtual bank in Hong Kong licensed to offer digital wealth advisory services. Having obtained the Type 1 (dealing in securities) and Type 4 (advising on securities) licenses from the Hong Kong Securities and Futures Commission…
Al Rajhi Bank Malaysia selects Singapore’s Moneythor as a strategic partner for personal finance management features
Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA), said Monday it has selected Moneythor, a digital banking solution provider in Singapore, to implement innovative personal financial management (PFM) features in its upcoming digital bank in Malaysia.
