Singapore’s Finmo bags $18.5m Series A co-led by Quona Capital and PayPal Ventures
Finmo, a Singapore-based Treasury Operating System (TOS), has secured a $18.5 million Series A funding round to drive expansion plans and product development.
Finmo lands $18.5m Series A
The round, which brings Finmo’s total funding to $27 million, was co-led by Quona Capital and PayPal Ventures, with additional support from Citi Ventures.
Founded in 2021, Finmo’s TOS solution aims to assist enterprises in optimising liquidity and manage cross-border transactions through features like real-time payments, FX risk management, enhanced cash flow visibility, and automated compliance.
Currently, the fintech holds licences in Singapore, Australia, and New Zealand, and is registered as a Money Service Business (MSB) in the US.
David Hanna, Finmo’s CEO and co-founder, says the latest cash injection “enables us to scale our platform, enhance our technology further, and expand into new markets”.
The company is particularly focused on enhancing its “AI-driven capabilities” and is actively recruiting for head of sales and product manager roles in India and Singapore.
Singapore’s fintech sector continues to grow, with Finmo’s round adding to recent developments such as Pomelo Group’s acquisition of Arrow Checkout and Funding Societies landing a $25 million equity investment from Japan’s sovereign wealth fund, Cool Japan Fund.
