Fintech firm FOMO Pay raises USD 13 million to drive business growth
Singapore-based fintech firm FOMO Pay announced today (August 18) that it has raised $13 million in its Series A round led by Jump Crypto.
Other participating investors include HashKey Capital, Analpha Ventures, Ab Initio Capital and Republic Capital.
With the injection of new funds, the firm said it will accelerate its growth. Specifically, it wants to invest in talent acquisition and its infrastructure, as well as strengthen research and development capabilities.
After all, FOMO Pay’s mission is to be leading global banking service provider for the rapidly growing digital economy. In line with this, it aims to expand its customer base to embrace digital payments and accelerate digital adoption.
It is also looking to diversify product offerings following strong crypto adoption, and this includes working closely with regulators on Central Bank Digital Currency (CBDC) projects.
In addition, it also sees geographic expansion with a first-mover advantage in terms of licensing and compliance in other jurisdictions.
2022 has so far been a breakthrough year for FOMO Pay – we see 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. 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.
– Louis Liu, founder and CEO of FOMO Pay
FOMO Pay was the first firm in Singapore to be granted approval by the Monetary Authority of Singapore (MAS) for Digital Payment Token (DPT) Services. It is also the first DPT licensee to offer crypto payment solution for Singapore merchants.
Founded in 2015, FOMO Pay is a homegrown fintech company that offers its flagship solutions by helping institutional clients connect e-wallets, credit cards, cryptocurrencies and more with its global banking solutions.
Today, FOMO Pay is one of the largest providers of digital payment and banking solutions, serving several thousand customers across the Web2 and Web3 industries.
Featured Image Credit: FOMO Pay
