Sunday, 6 July 2025
26.4 C
Singapore
29.3 C
Thailand
20.4 C
Indonesia
29.1 C
Philippines

Malaysian fintech startup raised pre-series A investment

MoneyMatch announced that it had raised an undisclosed amount in pre-Series A funding led by Cradle Seed Ventures. At the same time, the startup also announced that they had been granted approval in principle for a Class B remittance license from Bank Negara Malaysia (BNM) to carry out digital remittance services for businesses and individuals. […]

MoneyMatch announced that it had raised an undisclosed amount in pre-Series A funding led by Cradle Seed Ventures.

At the same time, the startup also announced that they had been granted approval in principle for a Class B remittance license from Bank Negara Malaysia (BNM) to carry out digital remittance services for businesses and individuals.

The startup was the first to be approved by BNM’s Financial Technology Enabler Group (FTEG) to conduct eKYC (electronic know-your-customer onboarding technology) to execute transactions online via their mobile app enabling a seamless customer experience.

It was part of the first batch of approved participants in BNM’s Regulatory Sandbox back in May 2017 and hopes to successfully become the first fintech startup to graduate from the Sandbox by the middle of this year.

MoneyMatch claims that it has crossed over US$110 million (RM450 million) in transaction value servicing thousands of individuals and business customers since inception in 2017.

The startup also said that it has one of the cheapest forex rates and fees in the market with a significantly faster transmission period compared to other banks, and currently employs more than 50 full-time staff.

MoneyMatch aims to raise more investments to fund its aggressive expansion within the Asia Pacific region.

Hot this week

Infold Games launches Love and Deepspace pop-up exhibition at Resorts World Sentosa

Infold Games brings the first Love and Deepspace pop-up exhibition to Singapore from 18 to 31 July at Resorts World Sentosa.

Mainland investment boom lifts Hong Kong’s market

Chinese firms turn to Hong Kong listings after mainland investors spend US$93B on stocks, eyeing global growth and fresh funding sources.

Spotify lets you personalise your Discover Weekly playlist like never before

Spotify now lets you personalise Discover Weekly with genre filters, such as pop and R&B, helping you better shape your weekly playlist.

TikTok trials new ‘bulletin boards’ to rival Instagram’s broadcast channels

TikTok is testing bulletin boards, a new feature similar to Instagram's broadcast channels, for direct creator-to-fan updates.

Xiaomi opens new store at City Square Mall and launches Shopee presence in Singapore

Xiaomi opens its ninth store in Singapore at City Square Mall and launches its official Shopee store with promotional offers across both platforms.

China to invest in Brazil-led global forest fund, signalling shift in climate finance

China may invest in Brazil's global forest fund, signalling a shift in climate finance and broader support from emerging economies.

Trump says talks with China on TikTok deal to begin this week

Trump says TikTok deal talks with China will begin this week, with possible involvement from President Xi or his team.

DeepSWE, powered by Alibaba’s Qwen3-32B, outperforms rivals in global benchmark

Alibaba’s open-source Qwen model powers DeepSWE to global victory in AI agent rankings, signalling a shift in open-weight AI innovation.

E Ink transforms laptop touchpads into smart e-reader displays for AI use

E Ink’s new touchpad brings e-reader tech to laptops, offering a low-power screen for AI apps and assistants right under your fingertips.

Related Articles

Popular Categories