Mindigital, a fin-tech company, recently announced that it has completed Series A financing of CNY 50 million by the end of 2022.
Mindigital is a company focusing on financial technology services, dedicated to providing digital banking SaaS systems and solutions for banks and financial institutions in Southeast Asia and other countries along the Belt and Road and emerging markets, so as to help these users achieve digital transformation.
Mindigital is headquartered in Singapore. Most of the team members are engaged in R&D and operations in China, and a team of about ten people is responsible for sales overseas. This distribution structure enables Mindigital to make full use of domestic technical resources and sales networks in overseas markets to provide customers with more comprehensive support and services.
According to the data analysis agency Adjust, since 2022, the downloads of financial technology applications in Southeast Asia have increased by 32%, which is higher than the global average growth rate of 14% over the same period. In addition, the growth of e-commerce in Latin America since the outbreak of the new crown has been outstanding, and the annual growth rate is expected to reach 21.5%, far exceeding the global average. This growth momentum has driven the shift of payment methods online and the digital transformation of the local financial industry.
The founder of Mindigital, Li Yinghao (李英浩), said that Mindigital has reached cooperation with many institutions, including BPR GUNUNG RINGGIT in Indonesia, Easypasia in Pakistan, PayMaya and Kita in the Philippines, and BMG Bank in Brazil. And UbiCash, an installment cash loan product in the United States. These cooperations provide a broad opportunity for Mindigital's development in different regions and further promote digital transformation and innovative development in the field of fintech.
Financial technology has attracted a lot of companies to enter the market. Representative companies in China include Ant Financial (蚂蚁金服), Qudian (趣店), Lufax (陆金所), and JD Finance (京东金融); internationally, Oscar and Avant in the United States, Kreditch in Germany, Klarna in Sweden, Atom Bank in the UK, and Xero in New Zealand are also quite powerful.
The investors of this round of Mindigital are eWTP Technological Innovation Fund (eWTP基金) and GSR Ventures (金沙江创投), and the old shareholders Redpoint Ventures (红点创投) and Delta Capital (达泰资本) follow up. The newly raised funds will be mainly used for further upgrading of products and systems and expansion of overseas markets.