In brief: Fintech startup Wallex bags funding from Beenext, others

Wallex Technologies, a two-year-old Singapore-based fintech startup, has closed a pre-series A funding round of an undisclosed amount. Beenext took the lead, with Central Capital Ventura and Indonusa Dwitama, an early investor in Tokopedia, joining in.

Since its first funding round, Wallex has built a comprehensive online cash management platform, focused on serving small and medium-sized enterprises in Southeast Asia.

Wallex offers solutions such as virtual accounts (for collections and disbursements), a multi-currency wallet, foreign exchange (forex) conversions, cross-border payments, and an API with real-time forex execution capability. These tools allow SMEs to manage their cash and hedge their forex risk with convenience through a single platform.

Source: Wallex press release