Singapore remittance provider TranSwap to raise up to USD 10 million in capital

Tuesday 21 April 2020 14:32 CET | News

Singapore-based remittance company TranSwap is reportedly holding discussions to secure USD 5-10 million in capital.

As reported by e27, the fintech has acquired USD 2.5 million in total (to date) from several major investors, including Quest Ventures, several high net worth individuals (HNWIs), and a family office.

TranSwap has been granted money remittance licenses in Indonesia, Hong Kong, and Singapore. TranSwap will be introducing Global Borderless Virtual Accounts (GBVA) next month. These will be offered to customers based in Indonesia, European Union, the UK, and the US. GBVAs will allow users to open digital bank accounts, and will help firms collect payments, convert between major foreign currencies, and transfer funds overseas (more than 180 countries supported).

Established in 2015, TranSwap allows companies to send payments throughout the world at affordable rates. The fintech also assists importers and exporters that are looking to send money abroad or receive funds from overseas clients.

More: Link

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Keywords: TranSwap, fintech, remittance, Singapore, Asia, APAC, funding, payments , send money, online transactions
Categories: Banking & Fintech
Countries: Singapore
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Banking & Fintech

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