SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered Bank, has launched Fintech Bridge to connect fintech startups while Singapore’s P2P financing service MoolahGo has raised funding from the TransferTo founder.
StanChart unit launches SC Ventures Fintech Bridge
SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered Bank, has created a market-first platform to connect community builders such as startups, investors and accelerators to the bank.
Called SC Ventures Fintech Bridge, the platform connects and matches partners from the fintech ecosystem to the Bank’s internal community, where they can propose solutions to challenges posted by the Bank’s business units or request for investments.
Investors can also use the portal to recommend startups to the Bank for future collaborations. Startups can move from initial application to final selection within just three months.
SC Ventures Fintech Bridge is for fintech startups who want to work with StanChart Bank and gain new clients. It is a global platform supported by a connected network across Asia, Africa, Middle East, and Europe through the Bank’s footprint, according to the announcement.
StanChart set up SC Ventures, a business unit to promote innovation, invest in disruptive financial technology, and explore new business models.
TransferTo founder invests in MoolahGo
Singapore-based peer-to-peer financial services e-marketplace MoolahGo has raised an undisclosed amount from Eric Barbier, founder and former CEO of TransferTo, according to an announcement.
Barbier founded TransferTo in 2005 and turned it into one of the world’s leading cross-border mobile payments network provider before stepping down as its CEO in 2018.
Launched in 2018, MoolahGo is SE Asia’s peer-to-peer financial services e-marketplace that delivers services by connecting consumers, businesses and providers directly, removing intermediaries. Its platform currently hosts currency exchange and cross-border money transfer services.
“Having Eric who is a veteran in this business investing in us is a vote of confidence in our business strategy and future…Eric will be joining our board to contribute actively to our business,” said John Hakim, Founder and CEO of MoolahGo.