Singapore-based fintech firm Sunrate has reached an annualized revenue of US$100 million based on numbers in August, with a yearly revenue growth of 80% for the past three years.

The company achieved net profitability in 2021 and has maintained it since.

Having previously worked at Citibank, Sunrate founder Paul Meng noted the increasing demand for SMEs to participate in international business, propelling him to launch the fintech company.