Funding Societies, Southeast Asia’s largest SME digital financing platform, is about to accumulate regional funds answer CardUp for an undisclosed sum.
CardUp is being acquired by Funding Societies
Launched in 2016, CardUp is a Singapore-based paytech that permits people and companies to make funds to suppliers and accumulate funds from clients digitally.
CardUp additionally gives companies associated to payroll, hire, company tax, vendor funds, receivables and cross-border bills throughout Singapore, Malaysia and Hong Kong.
“Acquiring CardUp enables us to leapfrog and accelerate our market leadership in the regional fintech space, integrating payments capabilities, enhanced user experience and local licenses to our digital lending experience across key markets,” says Kelvin Teo, co-founder and group CEO of Funding Societies.
Funding Societies says that every one of CardUp’s workers throughout Asia will probably be retained. Nicki Ramsay, founder and CEO of CardUp, will be part of Funding Societies’ administration workforce to helm its funds enterprise.
Funding Societies, Modalku Group was based in Singapore in 2015 and is licensed and registered in Singapore, Indonesia, Thailand and Malaysia and operational in Vietnam.
Backed by the likes of SoftBank and Sequoia, the fintech firm claims it handed out $1 billion in SME financing in 2021.
Singapore’s Funding Societies acquires paytech CardUp & More Latest News Update
Singapore’s Funding Societies acquires paytech CardUp & More Live News
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Singapore’s Funding Societies acquires paytech CardUp & More News Today
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