FOMO Pay Raises US$13M in Series A Funding Round to Accelerate Business Growth 

Singapore-based fintech startup FOMO Pay announced that it had secured a US$13 million investment for its Series A round led by Jump Crypto. Other participating investors include HashKey Capital, Antalpha Ventures, Ab Initio Capital, and Republic Capital.

FOMO Pay Raises US$13M in Series A Funding Round to Accelerate Business Growth

In a press statement, the company said that with the injection of fresh funds, it will accelerate its growth and will invest in talent acquisition and its infrastructure. It will also strengthen research and development capabilities, expand geographically, extend its client base, and diversify product offerings following the crypto adoption curve, including working closely with regulators on Central Bank Digital Currency (CBDC) projects.

FOMO Pay Founder and CEO Louis Liu stated,

“2022 has so far been a breakout year for FOMO Pay – we are seeing significant growth across all business lines. Our volumes for the first half of 2022 have surpassed the full year 2021 levels, and our client pipeline is extremely strong. We attribute this success to the hard work of our team and their effort to always put customers first”

FOMO Pay, a payment company established in 2015, provides worldwide virtual banking solutions for businesses and financial institutions with the goal of enabling the digital economy. With its worldwide banking solutions, its flagship products enable institutional clients to connect to e-wallets, credit cards, cryptocurrencies, and more.

Liu added, 

“This is a milestone year for us as we turn eight. We will continue to strive hard toward building Asia’s first licensed payment ecosystem with interoperability between fiat and cryptocurrencies, and we are grateful for the unwavering support and belief from our investors, stakeholders, and partners. We are extremely proud and grateful to be one of the front-runners in this industry in Singapore. “

The CEO also said,

“Singapore has been at the forefront of innovation with a world-leading licensing and regulatory framework. Our goal is to work in harmony with all stakeholders on both developmental and regulatory approaches to achieve the vision of Singapore as an innovative and responsible global digital asset hub,” 

The Monetary Authority of Singapore (MAS) initially gave authorization to this company in Singapore for Digital Payment Token Services. It is authorized to offer services for domestic money transfers, international money transfers, and digital payment tokens. 

The business claimed to deal with thousands of clients in the Web2 and Web3 sectors. In the last year, FOMO Pay has made a number of strategic alliances with companies, including Circle, Acentrik (a Mercedes-Benz venture), and Ripple.