Thao Lam La · · 1 min readSG fintech firm Sleek receives MAS license to expand business services (Updated)
Sleek, a Singapore-based fintech startup, announced that it has secured a major payment institution license from the Monetary Authority of Singapore.
With the new license, the company will be able to expand its newly launched Sleek Business Account suite of services – which includes cross-border transfers, account issuance, and e-money issuance – to a wider group of clients.
The Sleek team / Photo credit: Sleek
The company said it is the first fintech firm in Singapore to be granted such a license.
Established in 2017 by Julien Labruyere and Adrien Barthel, Sleek helps business owners register their companies and manage their payments, accounting, tax compliance, and governance through its all-in-one digital platform. To date, the startup has raised a total of US$36.5 million in funding.
The company said it has served over 450,000 businesses across Singapore, Hong Kong, Australia, and the UK. It also plans to launch the new services in the UK and Australia later this year as it aims to gain a firmer foothold in these markets.
See also: Meet the 50 top-funded startups and tech companies in Singapore
Update (Jul. 06, 3.35 p.m. SGT): This article was updated to reflect the actual total funding amount of Sleek.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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