World know-how providers firm Nityo Infotech has invested $100 million in Singapore fintech MatchMove in return for a major fairness stake.
The US-based agency will change into the most important shareholder within the firm and plans to speed up the worldwide distribution of its embedded finance platform.
Nityo has presence in 38 nations and claims to serve over three,000 enterprise purchasers.
MatchMove is a fintech start-up that gives embedded finance software program delivered via a collection of open, configurable APIs.
Naveen Kumar, founder and CEO of Nityo, says: “MatchMove has developed and confirmed an unbelievable know-how platform that has the facility to enhance individuals’s lives world wide. We’re very excited to have the ability to present gasoline for this rocket ship.
“This funding is the muse of our objective to speed up worldwide adoption of embedded digital monetary providers.”
Kumar claims the brand new funding takes MatchMove’s present valuation to $600 million.
Shailesh Naik, founder and CEO of MatchMove, provides: “Nityo brings us the whole lot we have to develop: govt expertise in rising and increasing a worldwide tech firm, thought management, development capital, giant and deep expertise swimming pools world wide and present relationships with many main organisations.
“This funding is game-changing for MatchMove, as it would instantly give us presence in 38 nations, mixed with a large means to execute and ship on the rising international demand for digital funds and embedded finance.”
Learn extra: Fintech powerhouse: Understanding the rise of Singapore