MENU

Singapore
Tag Archive

365

Ex-Lazada CMO’s neobanking platform for SMEs, Aspire, raises US$32.5M to grow in Southeast Asia

via e27

Aspire provides SMEs with a 60-day, interest free credit line of up to S$100,000 to solve their working capital needs (more…)

Banks, Deals, InspirAsia, Singapore, SME

August 1, 2019

158

First Singapore Startup Says It Will Apply for Digital Banking License

via Bloomberg

Singapore cross-border payments startup Instarem is seeking partners in the lending business as it prepares to apply for a digital banking license in the city state.

The Monetary Authority of Singapore said on Friday it will grant as many as two digital full-bank licenses and up to three digital wholesale bank licenses. Singapore Telecommunications Ltd., Grab and Razer have expressed an interest since the MAS announcement, but Instarem is the first company to say it will apply for a license. (more…)

InspirAsia, Remittances, Singapore

July 1, 2019

532

Singapore Advances Digital Only Bank Sector with Five New Digital Bank Licenses

via Crowdfund Insider 

The Monetary Authority of Singapore (MAS) will issue five new “digital bank licenses” according to the financial regulator. MAS said this was in addition to any existing Singapore banks which may also offer digital banking under existing rules.

MAS said the new rules extend digital banking to non-bank entrants.

Tharman Shanmugaratnam, Senior Minister and Chairman of MAS, announced the new rules during a meeting of the Association of Banks in Singapore. Shanmugaratnam said the new digital bank licenses “mark the next chapter in Singapore’s banking liberalization journey.” (more…)

Banks, Global trends, Government activities, InspirAsia, Singapore

July 1, 2019

1921

Singapore’s Ride-Hailing App Grab Mulls Becoming a Bank: Reuters

via Bloomberg 

Leading Southeast Asian ride-sharing provider Grab is considering applying for a digital banking license if Singapore’s banking regulator allows it, Reuters reported citing four people with knowledge of the process.

Grab, which acquired Uber Technologies Inc.’s Southeast Asian business and now carries a valuation of $14 billion, is close to hiring a consultancy firm to advise it on the matter, Reuters said. A company representative declined to comment.

(more…)

Fintech news, InspirAsia, Singapore

June 12, 2019

684

YouTrip, a challenger bank in Southeast Asia, raises $25.5M for expansion

via TechCrunch

Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. (more…)

Banks, Fintech news, InspirAsia, Mobile-first banks, Singapore

May 16, 2019

598

Experian opens Singapore incubator

via Finextra

Experian, the world leader in information services, is further expanding and investing in its innovation facility, Experian X Labs based in Singapore.

The facility serves as Experian’s first incubator and collaboration centre for cutting-edge solutions, aimed at addressing pressing economic and societal issues in India, such as financial inclusion. The Experian X Labs team, comprises of data scientists, product architects and industry innovators.
(more…)

Accelerators/Incubators/Labs, Credit scoring, India, InspirAsia, Singapore

March 8, 2019

1746

OCBC claims to be first Singaporean bank to use voice recognition for transactions

By Judith Balea for TechinAsia

OCBC Bank has been busy launching a string of firsts to ride the fintech boom. It just announced it has deployed voice recognition solutions to make it easier for customers to access different services. (more…)

Banks, Cashless, Fintech news, Global trends, Hotnews, InspirAsia

May 20, 2016

2271

Deloitte Uses Facebook to Build Warranties on Bitcoin Blockchain

ByMichael del Castillion for Coindesk

Deloitte has used Facebook’s recently released Messenger API to build an early version of a product capable of storing warranties on a blockchain and allowing users to buy insurance for items even after they’ve been purchased. (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends, InspirAsia, news

April 30, 2016

1725

Singapore Teams With Banks to Launch Venture Debt Fund

By GAURAV RAGHUVANSHI for WSJ Venture Capital
Singapore’s government has tied with local banks to launch a S$500 million fund ($371.9 million) to finance local high-growth startups, seeking to address the growth concerns of small local enterprises. (more…)

Deals, Fintech news, Global trends, InspirAsia, news

April 28, 2016

3165

DBS Bank Takes Stake in the ‘Siri for Banking,’ Kasisto

The Development Bank of Singapore Ltd. has taken a minority stake in Kasisto, a personal assistant that helps customers with their banking. (more…)

Banks, Deals, Fintech news, Global trends, Government activities, InspirAsia, Singapore

April 27, 2016

1460

Mobile giants bust into Singapore e-pay market

By Saheli Roy Choudhury for Yahoo news

The world’s two largest smartphone makers muscled into Singapore’s already-crowded mobile payment space this week, but experts say it may take a while for them to see much enthusiasm from locals. (more…)

Banks, Fintech news, Global trends, Government activities, InspirAsia, Singapore

April 22, 2016

1881

Mobile Payments Fraud: 10 Things Merchants Need To Know

(more…)

Cashless, Global trends, p2p-payments

April 15, 2016

1805

Singapore to Regulate Fintech Firms Only When They Pose Risk

By  and  for Bloomberg

Singapore will start to regulate its financial technology companies only when they grow to a sufficient size to pose risks to the wider financial system, the managing director of the country’s central bank said. (more…)

Fintech news, Global trends, Government activities, InspirAsia, Singapore

April 13, 2016

1167

Singapore tops mobile app economy, but for how long?

By Kevin McSpadden for e27

While China, India and Indonesia rank low in today’s regional ecosystem, they are set for major jumps in the future and are projected to lead APAC in the years to come (more…)

Banks, Fintech news, Global trends, InspirAsia

March 4, 2016

1527

Deals: Singapore bank UOB will invest $10m in an equity crowdfunding site

By Terence Lee for TechinAsia

Singapore’s banks are head over heels in love with fintech. Well, I’m exaggerating, but it’s true that financial institutions in the country are exploring ways to use technology to improve their offerings. (more…)

Banks, Deals, Fintech news, Global trends

March 3, 2016

2565

How Singapore is powering Asia’s fintech boom

By Imran Khan for TechinAsia.com

Singapore is the easiest place in the world to do business. The city-state has been ranked #1 in The World Bank’s Ease of Doing Business study for the last 10 years.

(more…)

Cashless, Fintech news, Global trends, Singapore

February 23, 2016

1383

SGX is revving up support for the Singapore’s tech startup scene. Here’s how

By Yon Heong Tung for e27,

It wants to become a platform for startups to raise funds, and is raising awareness through events, workshops and various outreach events (more…)

Crowdfunding/investing, Fintech news

February 19, 2016

1608

Deals: P2P mobile payments app Kashmi rakes in US$500k seed round

Kashmi, a Singapore- and Sri Lanka-based startup that facilitates peer-to-peer payments, announced today that it has locked in funding of S$700,000 (US$497,000). (more…)

Deals, Fintech news, news, p2p-payments, Singapore

January 15, 2016

2188

DBS commits S$10m to Singapore’s startup ecosystem

By dealstreetAsia,

Southeast Asia’s leading lender DBS Friday committed S$10 million ($7.1 million) for Singapore’s startup ecosystem over the next five years, and a bulk of this amount is slated to go into programmes run by the bank such as its partnerships with local accelerators and incubators.

(more…)

Banks, Fintech news, Government activities, Singapore

January 4, 2016

2980

Mobile point of sale venture Softpay gets $1m Series A from fintech VC Life.SREDA

DealStreetAsia: Southeast Asian mobile point of sale (MPOS) venture SoftPay Mobile International, which is incorporated in Singapore but operates in Vietnam, has secured a $1-million Series A investment round led by Singapore-based fintech VC firm Life.SREDA, via their InspirAsia Accelerator. (more…)

Deals, Fintech news, InspirAsia, news, POS/mPOS and online acquiring, Singapore

October 17, 2015

4069

15 Most Funded Fintech Startups in Southeast Asia

TechInAsia: Fintech is one of the darlings of the startup world right now. VCs and investors are tripping over themselves to back startups with new and innovative ideas in the financial technology space. Investment in fintech startups in Asia reached US$797 million in 2014. This puts the continent in second place after the US, with US$3.9 billion, according to a report by Singapore-based venture capital firm Life.Sreda (PDF link). (more…)

InspirAsia, news

October 16, 2015

2704

Mobikon Raises Funding from Life.SREDA, Qualgro

E27.COMobikon, a customer engagement and marketing platform for restaurants with operations in various countries across Asia, has secured an undisclosed amount in funding from Life.SREDA, a Singapore-based fintech VC firm. Qualgro Investment Fund, an ASEAN VC firm focussed on technology, education, healthcare and logistics, also co-invested in the round. (more…)

Deals, Fintech news, India, InspirAsia, news

October 8, 2015

5883

Singapore’s true way to a cashless society

Vladislav Solodkiy, Managing Partner, Life.SREDA VC:

These days many countries are talking about the importance of innovations in the financial sector. Many of those are claiming that they will soon become the first to go completely cashless. They may be saying so, but what if they don’t really know how to do it? (more…)

Analytics, Banks, Cashless, Columns, Global trends, Government activities, Influences FinTech

August 17, 2015

12498

22 Business Books That Blew My Mind And Changed Me

Vladislav Solodkiy, Managing Partner, Life.SREDA VC:

I am often asked for tips on good books to read. Recently I have posted an article in Russian listing my favourite business books, which got over 70 thousand views. I hope that the English-speaking folks will also find it useful. (more…)

Columns, Hotnews, Influences FinTech

August 10, 2015

2301

Golden Gate Ventures Unwraps $50M Fund For Southeast Asia

TechCrunch: Founders, assemble! There’s a new fund from a familiar face in Southeast Asia. Singapore-based Golden Gate Ventures just announced its second, $50M fund to support startups in the region and international companies looking to move there. (more…)

InspirAsia, news, Singapore

July 29, 2015

2824

Meet The 8 Startups Chosen For Life.SREDA’s Fintech Programme

E27: Meet the first 8 startups chosen for InspirAsia – Life.SREDA’s fintech post-accelerating programme: Softpay (Vietnam), Mobikon (Singapore), Rev (Malaysia), StoreHub (Malaysia), HotTab (Vietnam), Ayannah (Philippines), HomePay (Singapore), TIDE (Malaysia). Singapore-based fintech venture capital firm, Life.SREDA, has announced eight startups selected for its InspirAsia accelerator programme. Each startup that joins the VC fund’s 30-180-day pre-series A accelerator programme, which kicks off in September, will receive between $50,000 and $500,000 in funding, depending on the stage of the startup, in return for 5% to 15% equity, besides $250,000 in support services. At the end of the programme, the fund can decide on additional funding or bridge fundraising from other VCs from its network. (more…)

Hotnews, InspirAsia, Singapore

July 29, 2015

2082

Fintech’s Five Dark-Horse Cities: Singapore, Berlin, Madrid, Sydney, Amsterdam

TechCrunch: With global investment in fintech having tripled in the last five years, the financial sector is without a doubt in the midst of a revolution. The leading cities in the global fintech race are relatively unsurprising: Silicon Valley, New York, London and Hong Kong are the epicentres of the investment blast. (more…)

InspirAsia, Singapore

July 27, 2015

2414

MAS creates FinTech & Innovation Group, to start in August

Channel NewsAsia: The new group in the Monetary Authority of Singapore will be responsible for regulatory policies and development strategies to facilitate the use of tech to better manage risks, enhance efficiency and strengthen competitiveness.  (more…)

InspirAsia, Singapore

July 27, 2015

1874

Singapore Bitcoin Startup, BitX, Gets $4M From Naspers And Digital Currency Group

TechInAsia: Bitcoin is in an interesting phase. With the flight of speculators following the crash of Bitcoin prices, startups in the space are making a slow climb up the “slope of enlightenment” in the hype cycle. It’s where the rubber meets the road. (more…)

Cryptocurrencies, Deals, Fintech news, InspirAsia, news, Singapore

July 21, 2015