The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

singx.co

Founded Year

2014

Stage

Seed | Alive

Total Raised

$4.5M

Last Raised

$4.5M | 5 yrs ago

About SingX

SingX is a Singapore-based online remittance service provider.

SingX Headquarter Location

138 Cecil Street #04-01 Cecil Court

069538,

Singapore

+65 6221 7356

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing SingX

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

SingX is included in 2 Expert Collections, including Payments.

P

Payments

2,323 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

F

Fintech

3,080 items

Track and capture company information and workflow.

Latest SingX News

Singapore-based fintech startup SingX raises $4.5 million to enter new markets

Jul 29, 2020

SingX, a Singapore-based online remittance startup has raised $4.5 million in a pre-Series A round, led by senior bankers and high net worth individuals from Singapore and Hong Kong. The newly raised funding will be used by the company to scale up customer acquisitions in Singapore, increase the number of payment corridors, and ramp up its platform development. ADVERTISEMENT The company will also use the financing to expand its services to Hong Kong, Malaysia and Australia, with Malaysia being a particular focus for the company. In a press statement, the company claims that there are currently 350,000 Malaysians in Singapore who transfer money back home to pay mortgages, bills, family and other expenses. Thus, the primary focus is the Malaysian market. SingX, which is licensed by Singapore’s central bank Monetary Authority of Singapore (MAS), first launched its fund transfer service in India, back in January this year. It is led by CEO and co-founder, Atul Garg, who is a former American Express banker. Like many digital remittance services, SingX’s value proposition to consumers is that it bypasses banks and therefore the series is comparatively cheaper. Remittance via banks and other traditional financial institutions tend to incur high cable charges, commissions, and other FX conversion rates. SingX is going after a market segment who have more leverage and are savvier financially. It is targeting white collar workers and SMEs as opposed to blue collar migrant workers. The company says that it can give customers added peace of mind by guaranteeing their money is kept in a segregated client account, in accordance with its status as a regulated payment services provider licensed by the Monetary Authority of Singapore. It now offers online remittances from Singapore to Hong Kong, India, and Malaysia. Based on its current monthly run rate, the platform has a projected annualized run rate of $100 million. Share this:

SingX Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

SingX Rank

  • When was SingX founded?

    SingX was founded in 2014.

  • What is SingX's latest funding round?

    SingX's latest funding round is Seed.

  • How much did SingX raise?

    SingX raised a total of $4.5M.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.