Fintech news, Hotnews, InspirAsiaOctober 31, 2016

BaaS for banks will be like AWS for Amazon: Igor Pesin, Life.SREDA VC

By Shiwen Yap for DEALSTREETASIA

October 30, 2016: In September this year, Life.SREDA VC had announced that it had entered into a strategic partnership with Leonie Hill Capital, in a move that sees the firms establishing BAASIS, a pan-Asian banking as a service (BaaS) platform. Headquartered in Singapore, BAASIS is technically backed by a German digitlal financial services firm and is intended to provide a core banking infrastructure for fintech startups and other non-banking financial corporations in Asia, acting as middleware between traditional banks and entrepreneurial fintech ventures. In an interaction with DEALSTREETASIA, Igor Pesin, a partner and investment director of Life.SREDA VC, said the firm would soon announce the first close of its blockchain fund at at 25 million euros, even as he added that its second fintech fund, where it was targeting to raise $100 million, would soon have its second close, with Leonie Hill Capital as the lead LP.