BTO, a Singapore-based fintech startup, has announced its plans to raise Series A funding in collaboration with Standard Chartered Bank. The company aims to use the funds to expand its operations and develop new products and services.
BTO was founded in 2018 with the goal of providing affordable and accessible financial services to small and medium-sized enterprises (SMEs) in Southeast Asia. The company offers a range of digital banking solutions, including payment processing, cash management, and lending.
Since its inception, BTO has gained significant traction in the market, attracting over 1,000 SME clients across Singapore, Indonesia, and Thailand. The company has also secured partnerships with major financial institutions, including Standard Chartered Bank.
The collaboration between BTO and Standard Chartered Bank is expected to provide the fintech startup with access to a wider network of investors and resources. Standard Chartered Bank has a strong presence in Southeast Asia and is well-positioned to support BTO’s growth ambitions.
The Series A funding round is expected to be a significant milestone for BTO, as it will enable the company to scale its operations and expand its product offerings. The funds will also be used to invest in technology and talent, ensuring that BTO remains at the forefront of innovation in the fintech industry.
BTO’s focus on SMEs is particularly relevant in Southeast Asia, where these businesses make up a significant portion of the economy. However, many SMEs struggle to access affordable financial services due to a lack of collateral or credit history. BTO’s digital banking solutions aim to address this gap by providing SMEs with access to financing and other financial services.
Overall, BTO’s collaboration with Standard Chartered Bank and its plans to raise Series A funding are positive developments for the fintech industry in Southeast Asia. As the region continues to grow and develop, there is a significant opportunity for fintech startups like BTO to play a key role in driving financial inclusion and economic growth.
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