Singapore-based treasury technology company Finmo has secured an $18.5 million Series A funding round to drive its expansion and product development. The investment round was co-led by Quona Capital and PayPal Ventures, with additional participation from Citi Ventures, bringing Finmo’s total funding to $27 million.
Founded in 2021, Finmo operates a Treasury Operating System (TOS) that helps businesses optimize liquidity management and streamline cross-border transactions. Its platform offers real-time payments, foreign exchange (FX) risk management, enhanced cash flow visibility, and automated compliance solutions. The company holds licenses in Singapore, Australia, and New Zealand and is also registered as a Money Service Business (MSB) in the United States.
This latest funding enables us to scale our platform, enhance our technology further, and expand into new markets. AI-driven capabilities will be a key focus in our future development efforts.”
David Hanna, CEO and co-founder of Finmo
The company is actively hiring for key roles, including head of sales and product manager positions in India and Singapore, as it looks to strengthen its operations.
Finmo’s funding comes amid a surge in fintech investments in Singapore. Recent developments in the sector include Pomelo Group’s acquisition of Arrow Checkout and Funding Societies securing a $27 million equity investment from Japan’s Cool Japan Fund. The latest investment reinforces Singapore’s status as a growing hub for fintech innovation and expansion.
