Shadine Taufik · · 1 min readTiger Global-backed fintech firm expands into Singapore
London-based Weavr, a plug-and-play fintech firm, has expanded its operations to Singapore after closing its US$40 million series A round led by Tiger Global in February.
Weavr co-founder and CEO Alex Mifsud / Photo credit: Weavr
Founded in 2018 by Alex Mifsud and Adrian Mizzi, the startup’s low-code embedded finance products enable its corporate clients to offer their customers financial services by directly integrating features into their own systems.
Unlike other firms, Weavr does not create a unique API, meaning that teams can directly adopt the technology without having to master the software.
The company said the time to market products is reduced to five weeks as its solution takes care of data security, compliance, and regulations. Weavr also lets firms monetize payment fees through a revenue-sharing mechanism.
The firm offers three different plugins: a staff payroll and expenses program called “employee finance,” business-to-business payments through its “supplier finance” option, and a gig economy and marketplace-focused solution called “worker finance.”
The global embedded finance market is set to reach US$99 billion by 2026 at a compound annual growth rate of 16.2%.
See also: Series SEA: Who’s investing in the region’s fintech startups?
Editing by Deepti Sri and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
