Singapore-based major payments institution licensee FOMO Pay announced that it has secured a US$ 13 million investment for its Series A funding round led by Jump Crypto.
Other participating investors include HashKey Capital, Antalpha Ventures, Ab Initio Capital, and Republic Capital.
With the injection of fresh funds, FOMO Pay said that it will accelerate its geographical expansion and invest in talent acquisition and its infrastructure.
The firm will also strengthen diversify its product offerings by working closely with regulators on Central Bank Digital Currency (CBDC) projects.
FOMO Pay was granted approval by the Monetary Authority of Singapore (MAS) to offer Digital Payment Token Services.
It is licensed to provide merchant acquisition, domestic money transfer, cross border money transfer and digital payment token services.
Founded in 2015, FOMO Pay is a homegrown fintech company offering its flagship solutions by helping institutional clients connect to e-wallets, credit cards, cryptocurrencies, and more with its global banking solutions.
Louis Liu, Founder and CEO of FOMO Pay said,
“2022 has so far been a breakout year for FOMO Pay – we are seeing significant growth across all business lines. Our volumes for the first half of 2022 have already surpassed the full year 2021 levels and our client pipeline is extremely strong. We attribute this success to the hard work of our team and their effort to always put customers first.”
