<article>Singapore-based fintech startup <a href="http://www.jewelpaymentech.com/" target="_blank">Jewel Paymentech</a> has raised over S$1.5 milion ($1.05 million) in its Series A round, led by <a href="http://www.tuascp.com/home" target="_blank">Tuas Capital Partners Pte Ltd</a>.</article>

Singapore-based fintech startup <a href="http://www.jewelpaymentech.com/" target="_blank">Jewel Paymentech</a> has raised over S$1.5 milion ($1.05 million) in its Series A round, led by <a href="http://www.tuascp.com/home" target="_blank">Tuas Capital Partners Pte Ltd</a>.
The fundraising exercise was also participated by institutional and private investors, including Singapore-based investment partnership <a href="http://8capita.com/" target="_blank">8capita</a>.
Tuas Capital Group counts KAF Fund Management and KAF Investment Funds as sister entities, and is part of the larger <a href="http://kafgroup.com/" target="_blank">KAF Group</a> of diversified financial services companies. It is also one of the <a href="http://www.ekuinas.com.my/index.php/our-approach/ekuinas-private-equity-model/investment-framework/outsourced-programme/" target="_blank">outsourced programme partners</a> for Malaysian government-linked private equity firm, <a href="http://www.dealstreetasia.com/?s=Ekuinas" target="_blank">Ekuinas</a>.
Jewel Paymentech said the funds will be used to expand its team of developers, data scientists and business development managers to support its growing client portfolio across Asia.
It will also be used to roll out solutions to tackle complex challenges in the payments world, it said.
Jewel Paymentech provides intelligent solutions to help banks and payment facilitators conduct merchant due diligence and manage transaction fraud risks using predictive analytics.
It also offers automated solutions to large merchants such as marketplaces, to identify illegal and counterfeit goods as part of their KYC (know you customer) process.
One of the shareholders of Tuas Capital Partners Pte Ltd, Syed Haizam Jamalullail said, Jewel’s technology roadmap addresses many risk issues that are often overlooked by the e-payments industry.
“Jewel represents one of the first investments in a portfolio of fintech strategies to complement our existing financial services partnerships and leverage on the network and experience of the investment team,” he said.
The other shareholders of the Singapore-based investment vehicle comprise of financial professionals with an average of 15 years of combined experience and cross-Asia regional expertise.
Founder and chief executive officer Sean Lam said the startup’s vision is to make the e-payments ecosystem safer.
“Not only for consumers and merchants, but also for merchant acquirers who are often those who bear the brunt of the problem,” he said.
Lam was formerly the director of fraud and security risk at <a href="http://www.visa.com/globalgateway/gg_selectcountry.jsp" target="_blank">Visa </a>covering the Southeast Asia markets, and was also with a security and technology consultant at <a href="http://www.pwc.com/" target="_blank">PwC</a>.
Founded in 2014, Jewel has received numerous accolades for its <a href="http://www.jewelpaymentech.com/one-sentry.html" target="_blank">One Sentry®</a> risk management solution, and was named by SWIFT as one of the most promising fintech companies in Asia.
Jewel Paymentech was a recipient of the ACE startup grant awarded by <a href="http://www.spring.gov.sg/Pages/Home.aspx" target="_blank">SPRING Singapore</a>, a government agency that helps enterprises in financing, capability and management development.
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Singapore: Jewel Paymentech raises $1m Series A led by Tuas Capital

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