Razer to Support Fintech Community
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Razer Fintech, the financial technology arm of Singapore gaming and technology brand Razer, is partnering with the Singapore Fintech Association (SFA) to address business continuity concerns, high business costs, funding and employment issues arising from the Covid-19 pandemic.
The partnership will leverage Razer’s $50 million Covid-19 fund to support business partners and help them tide over the negative impact brought about by the virus outbreak.
Four pillars of support are being provided: cash flow and marketing support programs; partnerships or investment for best-in-class companies; support for certification, screening and reference checks; and joint networking events, according to an announcement on Thursday.
Assistance in the form of bridge financing, equity or equity-linked instruments ranging from $100,000 to $1.5 million is also available.
We look forward to working closely with SFA to achieve the objectives we have in mind, which is to ensure sustainability and growth for the fintech community here in Singapore, said Razer chief strategy officer and Razer Fintech CEO Li Meng Lee said about the partnership.
Razer Fintech is one of the largest offline-to-online digital payment networks in Southeast Asia and has processed billions of dollars in total payment value since its establishment in 2018. Razer is part of a consortium that is vying for one of five licenses in Singapore’s digital banking regime.
Questions & Answers
Q.What are the main issues this partnership aims to address for Singapore's fintech community?
What are the main issues this partnership aims to address for Singapore's fintech community?
The partnership will address business continuity concerns, high business costs, funding, and employment issues that have emerged due to the Covid-19 pandemic. It aims to ensure sustainability and growth for the community.
Q.What types of support are being offered to businesses through this initiative?
What types of support are being offered to businesses through this initiative?
Four pillars of support include cash flow and marketing programmes, partnerships or investment for top companies, assistance with certification and checks, and joint networking events. Bridge financing, equity, or equity-linked instruments are also available.
Q.What is the range of funding available for companies seeking financial assistance?
What is the range of funding available for companies seeking financial assistance?
Assistance in the form of bridge financing, equity or equity-linked instruments is available. The funding ranges from $100,000 to $1.5 million for eligible companies.