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Aya Lin · · 1 min readIn brief: Malaysian fintech startup closes pre-series A round
- Kuala Lumpur-headquartered MoneyMatch raised an undisclosed amount in pre-series A round led by Cradle Seed Ventures, the VC arm of local early-stage startup financer Cradle Fund, reported DealStreetAsia.
- The fintech company also said it looks to raise more money to fund its planned expansion to more markets in the Asia-Pacific region.
- The funding comes as the company got in-principle approval for a Class B remittance license from Bank Negara Malaysia (BNM), the Southeast Asian nation’s central bank, to offer digital remittance services.
- MoneyMatch was one of the four companies included in BNM’s regulatory sandbox for fintech applications announced back in May 2017, and aims to become the first startup to graduate from the sandbox by the middle of 2019.
Editing by Eileen C. Ang
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