Sleek Secures Payments License in Singapore
FinTech startup Elegantan all-in-one digital platform for small businesses, was granted a license for large payment institutions (MPI) by the Monetary Authority of Singapore (MAS), which will allow it to expand its business account services to a wider base of clients.
Sleek is the first FinTech company in Singapore to offer incorporation and accounting services that receive the MPI license, according to a company blog posts Thursday (July 7).
See also: Singapore’s MAS-supported Elevandi launches FinTech Advisory Committee
Founded in 2018 by French entrepreneurial director Julien Labruyere and Chief Growth Officer Adrien Barthel, Sleek aims to revolutionize how entrepreneurs run their businesses. The company helps startup entrepreneurs register their companies, manage management and manage accounting and tax compliance online.
“Being awarded the MPI license by our financial regulator is a testament to the confidence our customers, investors and partners have shown in our financial security standards and compliance levels. “We intend to make good use of the license and continue to support the underserved market segment of early-stage entrepreneurs with simple and fully digital FinTech services, while expanding our overseas markets from our base in Singapore,” said Labruyere.
Read more: How the world works digitally: Digital transformation is now at only 27% of its full potential
Sleek Business Account is one of many services the company offers to small to medium-sized businesses (SMEs) to simplify back office processes. Apart from incorporation, accounting, taxation, corporate secretarial services and CFO-as-a-Service, Sleek now offers the issuance of business accounts and debit cards, as well as local and cross-border payments and collections.
Related: Next-Gen Commercial Banking Tracker: Embedded Finance takes center stage
“With the MPI license, we are excited to continue delivering the best-in-class business account solutions for entrepreneurs. Over the coming months, we look forward to improving our corporate account offering with multi-currency accounts, better cross-border transfer experience and more debit card activation, says Pauline Sim, head of FinTech and partnership at Sleek.
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