SG fintech firm banks $2.2m in pre-seed money

Singapore-based Aquariux, a fintech startup, has raised S$3 million (US$2.2 million) in a pre-seed round from private investors. The startup also announced the appointment of Kelvin Chia as its CEO.

Aquariux CEO Kelvin Chia / Photo credit: Aquariux

Chia comes with 12 years of experience in building business strategy, subscription revenue, and B2B customer ecosystems.

He started his career as an associate at a clearing house for Singapore Exchange. Kelvin is also credited for establishing businesses, including the trading firm Quick Screen Trading and fintech firm CQG in China.

“We strongly believe that the modern digitalization effect will accelerate in the next three years and migration to Web3-based solutions for financial institutions will become common practice thereafter,” Chia said in a statement.

Founded in October 2020, Aquariux provides solutions around trading, payments, and remittances of traditional and digital assets. Aquariux also provides services for blockchain integration, among other things.

The company plans to use the fresh capital to expand its team beyond its current headcount of more than 30 employees. It is also planning to develop software projects for digital payments, digital remittances, and regulatory tech.

See also: 50 rising startups in Singapore

Currency converted from Singapore dollar to US dollar: US$1 = SG$1.36