SG neobank Banco secures $6.7m series A

Singapore-based neobank Banco has raised US$6.7 million in a series A funding round led by Japan-based SBI Group. Other investors that participated in the fundraise include Sumitomo Mitsui Banking CorporationR3, and Savills.

Banco, which is a part of the RABC Group, will use the funds to secure talent in the fields of tech and business development, as well as to expand throughout Southeast Asia.

Read more: Tech in Asia