Singapore – Singapore-headquartered fintech company FOMO Pay has secured a US$13m investment, which will be used to accelerate its growth and to invest in talent acquisition and infrastructure.
The Series A round was led by Jump Trading Group’s digital assets arm Jump Crypto. Other participating investors also include HashKey Capital, Antalpha Ventures, Ab Initio Capital, and Republic Capital.
FOMO Pay will also use the funding to strengthen its research and development capabilities, as well as to bolster its geographical expansion. Moreover, the firm will extend its client base, expand geographically, and diversify its product offerings.
Louis Liu, founder and CEO of FOMO Pay, noted that they are seeing significant growth across all business lines, as their volumes for the first half of 2022 have already surpassed the full-year 2021 levels, and their client pipeline is extremely strong.
He further shared that they will continue to strive hard towards building Asia’s first licensed payment ecosystem with interoperability between fiat and cryptocurrencies, and they are grateful for the unwavering support and belief from their investors, stakeholders, and partners.
“We are extremely proud and grateful to be one of the front-runners in this industry in Singapore. 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,” said Liu.
Meanwhile, Tak Fujishima, head of Asia of Jump Crypto, said, “FOMO Pay has established its firm footing as a leading local digital payment and banking solution provider which we believe is the future gateway for financial services. The financial technology space is rapidly evolving and we believe FOMO Pay will continue to be a leading innovative player in this space in creating a seamless and secure payments ecosystem.”