Singapore-based ShuttleOne picks up $500,000 in new funding round

Blockchain-powered FinTech ShuttleOne has bulked up its financial muscles to improve its technology after picking up a round of funding led by Sirius Venture Capital.

Singapore-based ShuttleOne picked up seed funding worth $500,000 in the raise, which was also supported by German investor Andromeda GmbH, according to AsiaTechDaily.

Essentially, the startup has developed a blockchain commodity designed to help informal workers remit money more transparently and at a lower transfer fee. The company also provides loans to micro businesses, particularly ones in the e-commerce space.

Sirius Venture Capital has previously supported Pie Insurance, a worker compensation insurance platform, when it raised a $45m Series B funding round in 2019.

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