As one of the leading global fintech hubs the city-state is now home to a growing group of around 100 financial technology start-ups. Singapore is now also a key location to source funding.
Mesitis a wealth technology company based in Singapore, has announced that it has raised a further $2.3 million by issuing new common shares.
The funds will be invested in people and technology as Canopy, the company’s account aggregation and portfolio visualization product, comes out of closed beta in the third quarter of the year.
Fintech Investors
Canopy currently has more than $3.2 billion of assets under reporting, with high net worth individuals, wealth managers and family offices based in Singapore, Hong Kong, Switzerland and the United Kingdom as customers.
«The investment came entirely from private investors, including corporate CXO's and entrepreneurs who are experienced in investing in technology companies. This round was anchored by an existing investor. Two senior members of the Mesitis management team also participated in this round for small amounts,» said Tanmai Sharma, founder and CEO of Mesitis.
Private Bank Background
The Mesitis group also announced that it has partnered with Chandrima Das, who will run its revamped, technology-led investment and wealth advisory business. The company’s subsidiary Mesitis Capital Pte Ltd is a fund management company registered with the Monetary Authority of Singapore, (MAS).
In her last role, Das was Managing Director and Head of Managed Products Sales at Bank of Singapore. Prior to that, she was the CEO of ING Investment Management in Singapore.
