SoCash is a Singapore-based fintech whose platform turns neighborhood shops into "virtual branches," allowing consumers to withdraw cash and apply for loans through its mobile app. The company partners with banks and retailers and has integrations with Standard Chartered (integrated into SC Mobile) and recently added ICBC; partner banks also include DBS and POSB. With the new funding, SoCash plans to expand its services to Indonesia, Malaysia, and Hong Kong and says it has received regulatory clearances to operate in those markets. It is positioning its network as an alternative sales and distribution channel for digital-only (virtual) banks and to leverage open-banking trends. The article does not disclose revenue, user counts, or other operating metrics. The fresh capital is intended to support geographic expansion and broader distribution partnerships.

Total raised

$6M

Funding rounds

1

Latest round

Series B

Latest activity

Jul 2019