Singapore-based fintech FlexM has introduced that it has secured a strategic funding from China’s Torkey Instances Expertise. The monetary phrases of the deal weren’t disclosed.
The funding is anticipated to speed up FlexM’s international enlargement and strengthen its place in funds, cross-border remittance, and compliance expertise.
Following the transaction, Torkey Instances Expertise and its founders, Yang Hanping and Xu Kaiqiang, at the moment are amongst FlexM’s prime three shareholders, alongside founder and chairman Rune Nilsson and co-founder and CEO Naveed Weldon.
The partnership goals to create synergies throughout cross-border funds, gateway options, and licensed fintech operations.
With annual revenues exceeding US$2.5 billion in 2024, Torkey Instances brings intensive transaction volumes and superior fee infrastructure that can assist FlexM scale its providers throughout key markets, together with Singapore, India, the Center East, Africa, North America, and Europe.
The funding follows FlexM’s current acquisition of a Main Fee Establishment (MPI) license from the Financial Authority of Singapore.
FlexM operates a number of fintech platforms, together with FlexBank, a cloud-based platform providing white-labeled banking options; FlexPay for home and worldwide funds; FlexRemit for international remittances; and FlexComply for anti-money laundering, know-your-customer, and transaction monitoring capabilities.
Rune Nilsson, Founder and Chairman of FlexM, stated,
“Our strategic partnership with Torkey Instances Expertise combines capital, experience, and industrial power to place FlexM as a robust fintech chief on a world scale.
Hanping and Kaiqiang’s distinctive enterprise acumen, intensive market perception, and spectacular transaction quantity align completely with our imaginative and prescient, accelerating our progress not only for the approaching years, however many years forward.”
Xu Kaiqiang, Founding father of Torkey Instances, stated,
“Torkey’s intensive enterprise quantity and main place in cross-border e-commerce make our cooperation with FlexM a pivotal transfer for each corporations. The worldwide e-commerce market presents huge alternatives and various shopper calls for.
By means of this partnership, FlexM will considerably broaden its enterprise attain whereas reinforcing its market management.”
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by siegostuan through Freepik
