Asia-based private equity firm Navis Capital Partners has made an investment in Singaporean fintech startup Moneythor for an undisclosed amount.

Founded in 2013, Moneythor provides financial institutions and fintech firms with solutions to enhance their digital banking services.

Navis was advised by PwC and Ashurst on the investment.

Headquartered in Singapore with offices in London, Paris, and Tokyo, Moneythor also looks to working closely Navis’ affiliate, DZ Card which is a Thailand-based smart cards manufacturer.

The collaboration is expected to help Moneythor break into new markets where DZ Card has an established client base to offer a wider suite of product and service offerings to customers in financial service sector.

Olivier Berthier, the CEO and co-founder of Moneythor, commented:

“This significant investment is a testimony of the international success of our solution in helping financial institutions enhance their digital banking services to make them more personalised and contextual for their customers.

 

It is also an acknowledgement of the ongoing growth of the market fuelled by new regulations such as Open Banking and new digital & virtual bank licenses globally.”

Rajendra Pai, Partner at Navis, commented:

“In these days of elevated customer expectations Moneythor’s solutions synthesising insights through AI and ML help make digital financial services more relevant, more personal and insightful for customers thereby creating incredible value and customer experiences.

 

We strongly believe in the vision, skills, and expertise of the management and the broader team at Moneythor and are thrilled to be a part of this story and look forward to taking Moneythor to the next level of growth and beyond.”

Featured image edited based on photo by Peter Nguyen via Unsplash