UK Fintech Currencycloud Sets up New APAC Headquarters in Singaporeby Fintech News Singapore April 23, 2021
Currencycloud, a provider of B2B embedded cross-border solutions, announced that it has opened an Asia Pacific headquarters in Singapore.
The new office, located in Raffles Quay, will serve as a hub to drive the London-based fintech’s expansion throughout the wider region.
The company expects to hire double digit number of employees by the end of 2021 and is applying for a license with the Monetary Authority of Singapore.
Rohit Narang who was thee Co-founder and COO of Trusting Social, a big data analytics firm specialising in credit scoring on alternate data, also joins the company as Managing Director for the region. Prior to his fintech career, Rohit spent nearly 20 years in investment banking and private equity, including at Deutsche Bank and Goldman Sachs, where he set up multiple new businesses across India and South East Asia.
Currencycloud reports that it has processed over $3 billion in international payments each month and Asia Pacific is one of its fastest-growing regions, with associated transaction volumes trebling across its platform in 2020.
The firm’s clients include TranSwap, NIUM, Wallex, XTransfer, WireBarley, PicoPay, CurrenC and Geoswift.
“Asia Pacific is a hotbed of financial innovation, and we anticipate significant ongoing growth of Fintech companies across the region. We aim to provide the pipes for all these Fintech companies when moving money across borders, helping them focus on building innovative products for their customers.
Our office in Singapore will enable us to continue to improve our services for our customers across South East Asia, Australia, Hong Kong and Japan.”
said Todd Latham, Chief Growth Officer at Currencycloud.
“I’m thrilled to be joining Currencycloud during an exciting stage in the company’s international expansion, and at a time when the need to accelerate the shift to digital payments across the Asia-Pacific region has never been greater.
Currencycloud shares my vision for financial inclusion and accelerating payments innovation. The next decade is going to see multiple innovative companies from this region addressing these problem statements and I look forward to building strong partnerships with such companies to fuel the future of finance”.
said Rohit Narang, Managing Director of Currencycloud Singapore.