Singapura Finance to invest US$3m in MatchMove PowerBank

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

FINANCE company Singapura Finance is investing US$3 million in MatchMove PowerBank (S) Pte Ltd (PowerBank), a wholly-owned subsidiary of homegrown digital payments startup, MatchMove Pay. Read more at The Business Times.

Following the completion of the equity financing, Singapura Finance will hold approximately 10 per cent of PowerBank's share capital on a fully-diluted basis, or about 1.8 million Class A ordinary shares in the company.

In October last year, Singapura Finance also paid US$5 million for a 1.6 per cent stake in MatchMove. In January this year, The Business Times reported that Singapura Finance and MatchMove were believed to have teamed up in hopes of landing a digital bank licence in Singapore. As at June 18, 14 of the 21 digital bank applications have progressed to the next stage of assessment. They comprise five digital full banks and nine digital wholesale banks.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore takes lead to boost transparency in trade financeWITH the commodity-trade finance business rocked by scandals and structural issues such as falling prices and regulatory pressures on profits, industry watchers are certain that this age-old business is due for reckoning. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »