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Singapore, 5 August, 2018 – FlexM was selected by the Prime Minister’s Office to be part of the Smart Cities showcase for 51st ASEAN foreign ministers’ meeting held from 31 July to 4 August. Only 2 E-payment companies were selected as FlexM presented to the foreign ministers and EU ambassador how the region can benefit from the cross-border e-payment solution. We were pleased to contribute in making the showcase a success.

As part of the presentation, FlexM demonstrated to the all foreign ministers and delegates on how our solution enables foreign workers in Singapore to make cross-border remittance back home.

Mr Naveed Weldon, Chief Executive Officer, FlexM, said during the presentation, “Our vision at FlexM is to create an Inclusive ASEAN as we are empower the Unbanked with E-payments where no one is left behind”.

About FlexM
We provide consumer and corporate products for E-payment and cross border payments, mobile wallet acts like their Bank account and mobile number as their account number. With a mission to banking the unbanked, we are committed to customise our solutions that cater holistically to their banking needs.

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Fintech startup raises seed funding to help unbanked migrant workers

Singapore-based FlexM announced today it has raised seed funding to the tune of US$886,000. The funding comes from Singaporean mobile payments provider MatchMove, with whom FlexM has inked a partnership deal, and a number of undisclosed private investors.

The startup offers its customers an ewallet that can be used for payroll, money remittance, and e-shopping. FlexM’s service includes a virtual prepaid MasterCard and up to four physical copies. It claims to offer more affordable remittance rates than established services like Western Union.

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FlexM raises US$890K

FlexM has raised its first round of seed of funding, amounting to US$890,000. The company provides a mobile wallet that can be used for payroll, money remittance, and e-shopping.

It targets the underbanked, in particular, but also migrant workers, who can use the service to receive their salaries and remit money electronically. Every FlexM member can register up to four pre-paid virtual Mastercards in the mobile wallet.

FlexM also signed a partnership with Singapore’s MatchMove to allow it to expand its reach.

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