FOMO Pay, a Singapore-headquartered major payment institution, has raised $13m in Series A funding.
The round was led by Jump Crypto. Other participating investors include HashKey Capital, Antalpha Ventures, Ab Initio Capital, and Republic Capital.
Founded in 2015, FOMO Pay’ mission is to be the leading global banking service provider for the fast-growing digital economy.
The Singapore-headquartered company helps institutional clients connect to e-wallets, credit cards, cryptocurrencies, and more with its global banking solutions.
Today, the FOMO Pay claims it is one of the largest digital payment and banking solution providers, servicing several thousands of clients across Web2 and Web3 industries. Over the past year, it has been involved in developing the innovation landscape within the Web3 ecosystem and has announced several strategic partnerships with firms such as Circle, Acentrik, Ripple, and others.
FOMO Pay said the capital will be used to accelerate its growth via investing in its people and infrastructure, strengthening research and development capability, and regulatory and geographic expansion
Louis Liu, founder and CEO of FOMO Pay said, “2022 has so far been a breakout year for FOMO Pay – we are seeing significant growth across all business lines. Our volumes for the first half of 2022 have already surpassed the full year 2021 levels and our client pipeline is extremely strong. We attribute this success to the hard work of our team and their effort to always put customers first.
“This is a milestone year for us as we turn eight years old. We will continue to strive hard towards building Asia’s first licensed payment ecosystem with interoperability between fiat and crypto currencies, and we are grateful to the unwavering support and belief from our investors, stakeholders and partners.”
Last year, FOMO Pay partnered with buy now pay later (BNPL) firm Atome to expand the use of BNPL in Asia.
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