It’s estimated that startups and small businesses waste in excess of $130B each year as a result of poor visibility into spend management. By leveraging automation, companies can not only recapture a portion of this spend but also reduce the time employees spend on low-value tasks. Ramp is a corporate card and all-in-one spend management platform that’s designed to save companies time and money. All spend activity is seamlessly integrated into the company’s expense management platform that handles bill payment, card issuance and controls, accounting, and reporting, saving finance teams countless hours allowing them to focus on value maximization rather than tedious data entry. The platform is free with Ramp making its margin on the interchange fees. Revenue grew 10x in 2021 and the platform has 5000+ businesses trusting Ramp for spend management, corporate credit, expense management, and the company has recently expanded into travel spending. AlleyWatch caught up with Ramp CEO, serial entrepreneur, and Cofounder Eric Glyman to learn more about how the founding team’s experience post-exit with Paribus inspired the business, the company's strategic plans, traction, latest round of funding, which comes at an $8.1B valuation (up from $3.9B in ’21), and much, much more...

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The post 7 Early-Stage Fintech Startups from Indonesia to Follow in 2022 appeared first on Fintech Singapore.

Southeast Asian SME digital financing platform Funding Societies has selected Banking-as-a-Service (BaaS) provider MatchMove to offer virtual card solutions to their Micro, Small, and Medium-size enterprises (MSME) clients in addition

The post Funding Societies Taps MatchMove to Power Real-Time Fund Requests for Its Virtual Card appeared first on Fintech Singapore.

Zeller says it has signed up more than 10,000 Australian businesses within eight months.

Volopay, a Y Combinator-backed corporate cards and payable management startup, has raised US$29 million in its Series A round through a mix of equity and debt. The investment round included

The post Volopay Raises US$29 Million Series A to Push APAC and MENA Expansion Plans appeared first on Fintech Singapore.

SINGAPORE, Mar 1, 2022 - (ACN Newswire) - Volopay, a Y Combinator-backed Singapore-based corporate cards, and payable management startup has successfully raised US$29 million in its Series A round through a mix of equity and debt. The investment round included participation from JAM Fund, Winklevoss Capital Management, Rapyd Ventures, Accial Capital, fintech veteran and angel investor Jeffrey Cruttenden - CEO of Acorns along with Access Ventures, Antler Global, and VentureSouq.
The strategic investment from leading blue-chip investors will fuel Volopay's foray into the APAC and MENA markets to tackle two of the most pressing problems that SMEs and startups face - high Forex (FX) charges incurred for international payments and the lack of a uniform platform to access all spend data. Volopay provides companies with multi-currency wallets to hold money in their base currency and any major currency - USD, SGD, EUR, GBP - and subsequently use it for payouts, eliminating exorbitant amounts of FX charges levied on international payments.

Since its seed funding, Volopay has grown exponentially to better alleviate its clients' pain points. With a 150+ member team spread all over major business centres in the Asia Pacific region, such as Singapore, Australia, India, Indonesia, and the Philippines, Volopay has amassed an impressive clientele with the likes of Funding Societies, Zipmex, Moneysmart, Smartkarma, and Austrionova among others.

Volopay is disrupting traditional business banking and aims to be adopted as the single and only solution growing, global businesses need for their cards, invoice automation, and bill payments along with the added bonus of a multi-currency business account without the hassle and limitations of a traditional bank. To achieve this, Volopay has embarked on the ambitious objective of building its own infrastructure and applying for financial licences in its markets, something no other company has done regionally. Through constructing their own infrastructure, Volopay will enable their global clients to eliminate the need for integration with multiple third-party financial services platforms, delivering a consistent and delightful customer experience regardless of the region they are operating in.

Rajith Shaji, cofounder and CEO of Volopay shared, "Volopay is an ambitious project. To build an alternative to Volopay, you would have to launch five different startups. We are building the control centre for modern companies for all their financial management needs. Our platform is as easy and seamless to use for a five-person company, as it is for a 500-person company. We want to take our vision of a unified spend management platform to all companies across the world after our initial markets of APAC and MENA."

"With APAC & MENA making a big wave on the global stage by churning out several unicorn level enterprises every year, accelerating their growth requires an efficient expense management tool that is simple yet scalable, something that Volopay has always aimed for," said Rajesh Raikwar, cofounder and CTO of Volopay.

Justin Mateen, founder of Tinder and JAM Fund who led the round, said in a statement, "I've worked closely with Volopay's amazing team since my original investment at the pre-seed stage. Given the accelerating growth of the business, and the team's ability to innovate quickly on the product side with a single-stack and scalable platform across multiple jurisdictions, it was only natural to triple down and lead the Series A round. I am proud to partner with a leader in this space and to help support Volopay to scale to greater heights."

Michael Shum, Chief Investment Officer at Accial Capital said, "Accial Capital views the B2B corporate spend vertical as a way to support entrepreneurs and SMEs with liquidity and close the credit gap. Volopay has a great ambitious team focused on redlining the finance workflows with its robust technology. We are proud to partner with a leader in this space to help scale."

Part of Volopay's Series A funds will be put towards their forthcoming market launches, building and innovating new technologies to complement their existing product, in addition to enhancing integrations with leading enterprise software and project management applications. The company is also hiring aggressively for key positions in each of its markets.

About Volopay

Volopay is a Singapore-based company on a mission to build a financial control centre for modern businesses. Volopay combines business accounts, corporate cards, bill payments, expense reimbursements, credit, cashback, and accounting automation into one single platform. Since launching in Singapore and Australia the startup has been on a strong growth trajectory and is now stepping into India, Indonesia, and the Philippines with MENA expansion on the horizon. https://www.volopay.com/sg/

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Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comVolopay, a Y Combinator-backed Singapore-based corporate cards, and payable management startup has successfully raised US$29 million in its Series A round through a mix of equity and debt. The investment round included participation from JAM Fund, Winklevoss Capital Management, Rapyd Ventures, Accial Capital, fintech veteran and angel investor Jeffrey Cruttenden - CEO of Acorns along with Access Ventures, Antler Global, and VentureSouq.

Scandinavian travel management company Resia is TripActions' third acquisition in Europe.

Payments Network Malaysia (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets, has named Farhan Ahmad as its new Group Chief Executive Officer effective 12 April

The post PayNet Appoints Farhan Ahmad as Its Group Chief Executive Officer appeared first on Fintech Singapore.

2021 was a blockbuster year for global fintech funding, exits and unicorn minting, a trend that was also observed in the Indian fintech landscape where players raised a new record

The post India’s Fintechs Are Ramping up on Acquisitions and International Expansions appeared first on Fintech Singapore.

The start-up has raised $144m in equity, led by SoftBank, and $150m in debt financing.

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