fastacash, a Singapore-based technology provider of a social payments platform, completed a $4m additional round of funding.
The round was led by new investors Jagdish Chanrai, Principal of the Kewalram Chanrai Group and Golden Oriole Investments, with participation from existing investors.
The company will use the additional funds to accelerate product development and deployment.
Prior to this, the company had raised $4.5m from its Seed and Series A round of funding led by Jungle Ventures, Spring SEEDS Capital and Hong Kong-based Funding the Future (FTF).
Led by Vince Tallent, Chairman and CEO, fastacash provides a global platform which allows users to transfer value (money, airtime, other tokens of value, etc.) along with digital content (photos, videos, audio, messages) through social networks and messaging platforms, enabling secure transactions domestically and internationally. It partners with companies and brands in the payments, remittance, consumer products, social and gaming industries to bring its technology to end-users.
Partners include Skrill, a global online payment and money transfer company; Oxigen, India’s payments service provider which currently offers an e-wallet for bill payments, mobile top-up, tickets and hotel bookings; Mobi.Dengi, a Russian payment service provider enabling bill payments and purchases across mobile; Imperial Bank, a Kenyan bank; and Techcombank, a private bank in Vietnam.
07/10/2013: fastacash Completes $3m Series A Funding