SINGAPORE (THE BUSINESS TIMES) – The Singapore FinTech Affiliation (SFA) and Razer Fintech have agreed to supply fintech corporations in Singapore bridge financing, fairness or equity-linked devices starting from US$100,000 to US$1.5 million (S$143,000 to S$2.1 million), they stated in a joint launch on Thursday (April 23).
The ultimate sum will depend on the fintech firm’s stage of development and enterprise necessities.
Monetary help is considered one of a number of measures the companions are rolling out to handle key points confronted by native fintech gamers because of the Covid-19 disaster, together with enterprise continuity issues, excessive enterprise prices, and funding and employment.
Different measures embrace cash movement and advertising help programmes, and help for analysis and due diligence processes equivalent to certification, screening and reference checks.
SFA and Razer stated additionally they hope to “curate best-in-class fintech corporations in Singapore by way of partnerships or funding”.
Below a US$50 million Covid-19 help fund introduced by Razer two weeks in the past, the corporate will make investments between US$100,000 and US$1 million per firm in chosen companies or companions.
It’s going to focus its investments in corporations with applied sciences devoted to preventing Covid-19 or supporting folks by way of the pandemic, equivalent to corporations within the autonomous meals and beverage, supply and logistics, and healthcare sectors, it stated.
Below its fund, Razer Fintech’s business-to-business cost service, Razer Service provider Companies, can also be waiving one yr of annual charges for each on-line and offline retailers in South-east Asia, providing particular charges for offline funds, decreasing sign-up charges to zero, and giving them US$10,000 in advertising funds every.
In the meantime, Razer Fintech’s business-to-consumer cost service, Razer Pay, is providing South-east Asian retailers US$10,000 in advertising funds every and decreasing its service provider low cost fee to zero for as much as six months.