Singapore payments fintech FOMO Pay raises US$13 million in Series A funding
Singapore fintech FOMO Pay has secured US$13 million in a Series A funding round led by Jump Crypto with additional participation from investors including HashKey Capital, Analpha Ventures, Ab Initio Capital and Republic Capital.
The fintech startup has a long list of goals it wants to achieve with this fresh infusion of capital. FOMO Pay will use the money to accelerate growth, invest in talent acquisition and infrastructure, and strengthen R&D capabilities.
FOMO Pay, which aspires to be “the leading global banking services provider for the rapidly growing digital economy”, will also seek to expand its customer base; expand into new geographies; and diversify the product offering in line with the crypto adoption curve.
Founded in 2015, FOMO Pay’s solutions help institutional clients connect to e-wallets, credit cards, cryptocurrencies and more. It has become one of the largest providers of digital payment and banking solutions, serving thousands of customers across the Web2 and Web3 industries.
FOMO ‘Building Asia’s First Licensed Payment Ecosystem’
FOMO Pay founder and CEO Louis Liu says: “2022 has so far been a breakout year for FOMO Pay – we’re seeing significant growth across all business areas. Our volumes for the first half of 2022 have already surpassed 2021 full year levels and our customer pipeline is extremely strong. We attribute this success to the hard work of our team and their efforts to always put customers first.
“This is a milestone year for us as we turn eight years old. We will continue to strive hard to build Asia’s first licensed payment ecosystem with fiat and cryptocurrency interoperability, and we are grateful for the unwavering support and faith of our investors, stakeholders and partners. We are extremely proud and grateful to be one of the frontrunners in this industry in Singapore. Singapore has been at the forefront of innovation with a world-leading licensing and regulatory framework. Our aim is to work in harmony with all stakeholders, on both developmental and regulatory approaches to achieve the vision of Singapore as an innovative and responsible global hub for digital assets.”
Tak Fujishima, Head of Asia for Jump Crypto, adds: “FOMO Pay has established its solid footing as a leading local provider of digital payment and banking solutions that we believe is the gateway of the future for financial services. The financial technology space is evolving rapidly, and we believe FOMO Pay will continue to be a leading innovative player in this area to create a seamless and secure payment ecosystem.”
