Silot, a Singapore-based fintech company, raised $2.87m in pre-series A funding.
Backers included Arbor Ventures and Eight Roads Ventures.
The company intends to use the funds to be deployed to accelerate expansion in Thailand, Malaysia, Hong Kong and other markets in the region.
Founded in March 2017 by Mr. Andy Li, CEO, Silot empowers financial institutions with streamlined banking tools to connect data and functionalities silos with AI and Blockchain to consolidate Payments, AF/AML, Onboarding and Banking Operations.
The Silot Banking Platform (SBP) features three major components, including:
– Silot Payment Engine – A unified payments engine supporting major payment methods (both legacy card payments & new mobile payments) in the market.
– Silot Merchant Suite – A unified merchant on-boarding and management platform applicable for merchants across all payment channels.
– Silot Guardian – A unified Anti-Fraud and Anti-Money-Laundering system built to safeguard both on-boarding and transactional activities across all payment channels.