SOCASH PTE LTD (Acquired by NIUM)

SOCASH creates the next-gen distribution for Digital banks and payment platforms. Banks need channels and distribution - to acquire customers , sell products, process payments & deliver services, but the current infrastructure is capital intensive and inefficient. On the other spectrum is the neighbouhood retailer with idle capacity. SOCASH connects these shops and offers a highly scalable and responsive network of retailers, delivering the spectrum of cash management, payment solutions and financial services. This is achieved by blending retail networks, payment solutions and banks with SOCASH platform The platform offers business payment solutions, solves cash management and enables customer onboarding via its ever growing network of retailers. The platform drives convergence of payments with cash and takes banking to where customers are. We are among fast growing fintech, HQ'd Singapore and expanding our markets across Asia and beyond. As Asia drives up consumption , the next billion are demanding ever increasing access to financial services, which the current network of ATMs and Branches are unable to deliver. With over 20,000 shops on our network and working across Asia, we are working towards a future where banking is delivered on an ubiquitous scale embedded in the community in a cost effective manner. The platform has achieved global sales and is growing with the demand from Digital banking revolution. Generates recurring from platform licences, transaction fees and FX. Products have profitable unit economics. SME lending product in pipeline. The company has raised USD 12.5M capital, most recently a USD 6 Million a strategic round from Glory Ltd (Japan), Standard Chartered and Vertex Ventures.