Surfin, a Singapore-based provider of a financial technology platform, raised US$12.5M in funding.
The round was led by Insignia Ventures Partners.
The company intends to use the funds to expand operations and its development efforts.
Led by Founder and CEO Dr. Yanan Wu, Surfin began with consumer lending and expanded into a suite of financial services including payments and remittance, credit card issuance, and wealth management. Leveraging AI and analytics, it is committed to offering an ecosystem of financial services to the middle class often overlooked by traditional banking systems.
The company has a significant presence in Indonesia,Mexico, Philippines, Nigeria, Kenya, India, Uganda, and Australia.
Also in 2023, Surfin established its credit card business in Mexico, “Sufinc,” in partnership with Visa. It offers a credit card designed to strengthen Surfin’s consumer finance presence in Central America, with flexible payment terms, no annual fees, and global acceptance.
Commenting on the news, Dr. Yanan Wu said: “Surfin’s vision has always been to build a financial technology services ecosystem on top of our scalable and sustainable risk management system, powered by AI and big data. This system has been stress-tested by the behavior of 60 million users across three continents. Recently, we’ve leveraged this system to launch remittance, payment, wealth management, and credit card services, deepening our mission of financial inclusion in the markets where we operate.”
FinSMEs
09/10/2024