Fintech start-up FlexM has successfully raised $886,000 in a seed fund round led by mobile payments platform Mastercards. The Singaporean firm will use the funds and Mastercards’s partnership to expand its presence in its home market after officially launching in September. FlexM offers users a mobile wallet to workers without access to traditional banking methods to receive their salaries and remit funds electronically using pre-paid virtual MatchMove. There are around 100 million migrant workers employed in APAC countries, giving FlexM a strong initial market.
Fintech start-up FlexM has successfully raised $886,000 in a seed fund round led by mobile payments platform MatchMove. The Singaporean firm will use the funds and MatchMove’s partnership to expand its presence in its home market after officially launching in September. FlexM offers users a mobile wallet to workers without access to traditional banking methods to receive their salaries and remit funds electronically using pre-paid virtual Mastercards. There are around 100 million migrant workers employed in APAC countries, giving FlexM a strong initial market.