SG digital banking startup Percipient raises $5m from Silicon Valley impact fund Stat Zero

Marina Bay, Singapore. Photo: Victor He/Unsplash

Singapore-based fintech startup Percipient has raised $5 million from Silicon Valley-based impact fund Stat Zero, according to a company statement.

Founded in 2015, Percipient helps banks and insurers with traditional and clunky legacy systems create a lightweight and API-ready representation of enterprise data and processes. Its product, TWINNTM, allows corporates to execute AI-powered digital services, partnerships and customer experiences without retiring their legacy systems.

Percipient co-founder and CEO, Navin Suri said: “Digital transformation approaches in financial services have not kept pace with changing demand. Now with the COVID-19 pandemic, the pace of digital transformation has further shifted gears…This Stat Zero funding will help us reach the many financial services companies that are looking for a faster, simpler, more cost-effective and future-compatible way to solve these.”

Commenting on the investment, Marquis Cabrera, co-founder and CEO of Stat Zero said, “Prohibitive costs and timelines are replaced by non-invasive, ready-to-use digital components. The potential impact on mid-to-lower tier financial institutions, the long tail of digital laggards within the industry, will be both wide-ranging and significant.”

The startup claims to have a UAE-based bank as a pilot partner for its product, which it expects to complete by the end of October 2020.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.