SDAX Financial, holding group of Minterest, raises S$24m in Series B round led by Straits Trading and PSA
SDAX Financial, the holding company of Minterest Digital Investment Platform and SDAX Exchange has announced the first closing of its Series B funding round led by PSA International Pte Ltd (“PSA”) and The Straits Trading Company Limited (“Straits Trading”). Also participating in this round was New Horizon Global.
The participation of PSA and Straits Trading, both prominent institutional investors, demonstrate confidence in SDAX Financial as a fast-growing fintech powerhouse committed to enhancing efficiency, accessibility and equal opportunity across capital markets and alternative investments. The deal brings together global leaders in their respective fields and their collective expertise to deliver high quality investments to investors through SDAX Financial’s integrated digital investment, lending, and exchange platform.
With new strategic partners onboard, SDAX financial will be focusing on bringing more opportunities to investors through our platforms – Minterest Digital Investment Platform and SDAX exchange, a digital asset exchange.
SINGAPORE (THE BUSINESS TIMES) TUE, DEC 21, 2021– DIGITAL securities exchange SDAX Financial has raised S$24 million in the first close of its ongoing Series B round, led by PSA International and Straits Trading.
New Horizon Global an investment company owned by Celine Tang also participated in the funding round. (see amendment note)
Straits Trading’s investment ties in with its shareholder club initiative, which was working to allow shareholders to have fractional ownership of real estate and property. Through the investment, SDAX Financial would be able to gain access to real estate deals for fractional ownership.
PSA’s investment into SDAX Financial is part of its commitment to environment, social and governance (ESG) solutions in its efforts to decarbonise supply chains.
“Through collaborating with SDAX Financial’s integrated digital financial services platform, we believe we can further PSA’s sustainability initiatives for supply chain partners and cargo owners, and make a positive impact towards the decarbonisation of global supply chains, underpinned by clear market mechanisms,” said Tan Chong Meng, group chief executive officer of PSA International.
“PSA will leverage SDAX Financial’s integrated digital financial services platform for efficient capital raising for green projects, to enable these projects to scale up and drive positive impact on global decarbonisation efforts. Such projects may arise through PSA’s cargo solutions for its partners and customers, including cargo owners,” added a PSA spokesperson.
The funds will be used to roll out new product offerings and further develop the technology platform to better serve users. SDAX Financial launched its digital asset exchange on Dec 6, and has listed a real estate security token.
“The ability to access a large pool of ESG and real estate assets allows the group to develop new innovative products to capture the fast-growing digital security token economy,” said Tan Chong Huat, chairman of SDAX Financial.
The article was contributed by Business Times