Cross-border payments startup Wallex raises Pre-Series A funding

Monday 15 October 2018 00:36 CET | News

Singapore-based cross-border payments startup Wallex has raised funding in a Pre-Series A led by BEENEXT, the amount being undisclosed.

Other participating investors include Central Capital Ventura, the fintech investment arm of Bank Central Asia, and Indonusa Dwitama. Wallex’s previous investors include 500 Startups, KDV Capital, and Amand Ventures.

Wallex offers a range of online cash management solutions including virtual accounts (for collections and disbursements), a multi-currency wallet, FX conversions, cross-border payments, and an API with real-time FX execution capability. The company’s multi-currency wallet holds over 30 currencies.

The investment amount will be utilised on funding its product features and offerings to better serve the region’s SMEs and expand their market reach in the region. It will also expand its market share in Singapore as it looks to raise a Series A round in the near future.

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Keywords: Wallex, Singapore, startup, cross-border payments, BEENEXT, multi-currency wallet, API, SMEs, online payments
Countries: World

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