- To uncover more strategic plans locally and abroad
- Partners along with Fullrich Malaysia, Allied Protocol
Income Monster Group, the Malaysian financial technologies (fintech) company, announced a successful private equity financing round and the signing of a memorandum associated with understanding (MoU) that solidifies its mission to create what it stated to be Malaysia’s the majority of holistic fintech options ecosystem.
Having secured US$6. 5 million (RM30 million) in financing from private equity company The SEA Capital (SEA), the firm mentioned it has partnered with local financial technologies solutions provider Fullrich Malaysia (and their local licensed e-wallet brand, TaPay) plus software developer, Allied Protocol to build a more advanced B2B & B2G2C fintech ecosystem, which comprises end-to-end payment solutions through Point-of-Sale (PoS) for an e-wallet license.
Lim Kar Aik, chief executive officer of Revenue Creature Group, said with all the recent restructuring and the second round associated with funding from The SEA Capital, the group has integrated greater talents in the fintech business to provide customised digitalisation solutions according to the scale and needs associated with businesses.
“This contains aggregating merchant services and mobile obligations, enabling online-to-offline business, background data evaluation and marketing optimisation.
“The group has also been positively working with traditional industrial sectors to achieve digital change. ”
Lim said the girls recently built a good community with a well-known real estate developer where we develop clever homes and provide residents with a better residing experience.
He added that everything is now made easier with a mobile software, not forgetting the reduction in management costs plus improved service efficiency.
“Our vision will be aligned with the development initiatives of the Ministry of Housing and local government, to direct and cultivate the growth of intelligent cities, ” he said.
The company said the MoU is set to do something as a solid pillar in Revenue Monster’s ongoing plans to create a true super-app inside the fintech space which accommodates and caters to the full spectrum associated with services and options within the industry.
Speaking on the MoU, Sun Jian Wei, originator of Fullrich Malaysia, said “Through our white-label digital budget solutions, government models, corporate groups, franchise merchants and school campuses can create their own e-wallet brands, naturally manage all scenarios, realise interconnection, plus make all information and payment traceable.
“This will help create a beneficial closed-loop big information ecosystem, empowering a lot more businesses to achieve electronic transformation effortlessly, ” he said.
The SEA Funds said that the post-epidemic era highlighted changes in the social and economic situation that have rewritten the rules of its business.
The ocean Capital said it believes that the Revenue Monster Group represents these qualities, prioritising both the growth of economic prosperity plus human well-being.
TaPay premiered by Fullrich Malaysia in 2017. The particular mobile e-wallet service which is licensed by Bank Negara Malaysia, provides users having a secure payment program and has received huge support from a lot of large merchant shops and government models over the past few years.
Allied Protocol on the other hand has more compared to 20 years of IT development experience, providing software program and hardware solutions for merchants in various fields, including PoS terminal systems plus enterprise resource about to help new plus mature enterprise customers improve business administration efficiency.
According to Revenue Beast, the new solutions integrations through the MoU are set to complement its existing offerings including the group’s online extremely store solution, avec de la carte that caters to the B2C market in the F& W category and WeTix, the cinema plus movie aggregator together with Revenue Monster’s B2B solutions within its merchant portal.
The group stated it is set to disclose more strategic plans locally and overseas in the coming several weeks, as it looks to accelerate its position like a leader within the business and assist a lot more local businesses to transform and upgrade.