Fincy, a multi-currency money management app that launched in Cambodia last year, has received an $11 million capital injection from parent company GBCI to expand its network across South East Asia.
The financing comes off the back of a successful launch in Singapore earlier this month.
The firm says it will use the funding to build a new 6,700 square foot office in Singapore’s central business district to house its technology, product development, compliance and sales and marketing teams. Approximately $1 million has been earmarked to hire an additional 50 staff on top of the 500 people already employed by the firm.
Douglas Gan, chief executive of GCBI Ventures and co-founder of Fincy, says: “By leveraging a secure financial infrastructure built on blockchain technology and by offering round-the-clock customer support, Fincy can provide an affordable, contactless alternative to existing financial services, especially in a post-Covid world.”