fastacash, a Singapore-based global social payments platform, completed a $3m Series A funding.
Backers included Jungle Ventures, Spring Seeds Capital, the investment arm of SPRING Singapore, and Hong Kong-based Funding the Future (FTF).
The company, which had previously raised $1.5m, intends to use the funds to focus on partnerships and expand globally, planning to launch in Indonesia (Doku) and Russia (UNISTREAM) within the year.
Led by Vince Tallent, Chairman and CEO, fastacash has developed a patent pending link generation technology that allows individuals or companies to transfer value, domestically and internationally, along with digital content (photos, videos or audio messages), through social networks and messaging platforms.
The transferrable value can be in the form of money, electronic coupons, airtime or other tokens of value.
The company will work with companies, including banks, remittance service providers, mobile operators, social networks, gaming companies and consumer brands, to integrate their solution into their partners’ existing or new systems.