Singapore's Honest Bank raises USD 19.7 mln

Monday 30 August 2021 12:20 CET | News

Singapore-based fintech company Honest Bank has raised USD 19.7 million in its Series A round led by Insignia Ventures Partners and Digital Horizon VC.

Additional investor Digital Horizon added USD 5.5 million. Honest Bank aims to become a leader of the credit card market in South-East Asia. The project got off the ground in Indonesia where only 3% of the population have credit cards.

The funding raised during the round will be used to receive a licence for credit card issuing. Honest Bank also plans to increase their headcount and open new offices in Bangkok and Jakarta. 

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Keywords: investment, online banking, digital banking, credit card
Categories: Banking & Fintech
Countries: Singapore
This article is part of category

Banking & Fintech