Jewel Paymentech, a Singapore-based fintech startup, raised over S$1.5M in Series A funding.
The round was led by Tuas Capital Partners Pte Ltd with participation from Singapore-based investment partnership 8capita.
The company intends to use the funds to expand its team of developers, data scientists and business development managers to support its client portfolio across Asia, as well as to roll out new solutions.
Founded in 2014 by Sean Lam, CEO, Jewel Paymentech provides intelligent solutions for banks and payment facilitators to conduct merchant due diligence and manage transaction fraud risks using predictive analytics. It also offers automated solutions to large merchants such as marketplaces, to identify illegal and counterfeit goods as part of their KYC process.
The company is also a recipient of the ACE startup grant awarded by SPRING Singapore.