Weavr expands into Singapore, bringing integrated financing to businesses in the region

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Weavr’s Radically Simpler Integrated Finance Solution Aims to Help Companies Redefine Business Models to Become More Resilient

SINGAPORE – Media outreach – November 2, 2022 – Weaver, a London-based technology provider that offers plug-and-play integrated financial solutions to businesses, is moving to Singapore as part of its mission to make integrated financial services accessible to any digital business. Backed by a US$40 million Series A led by US investment firm Tiger Global, Weavr’s official Singapore launch will be announced this week at Singapore Fintech Festival at the Singapore Expo, where Weavr will be part of the United Kingdom (UK) Trade Mission pavilion run by the UK Department for International Trade.

With growing economic uncertainty, inflation rates With decade highs and escalating geopolitical tensions, companies need to reorient their business models to become more resilient. One sure way to do this is to offer greater value to their existing customer base. Embedded finance can help digital businesses achieve this goal by delivering relevant financial services when customers need them, using the rich data that many such businesses collect and process for their customers. By doing so, digital businesses have the opportunity to add significant new revenue streams from their existing customer base, in other words to increase their revenue without having to increase their marketing budgets.

According to a report by Bain & Co and Bain Capital, the integrated finance market is expected to more than double to US$51 billion by 2026. The main driver is the removal of adoption barriers for non-financial companies wishing to offer financial products that improve the customer experience. while providing immediate opportunities to amplify their revenue per user.

Integrated finance, in a nutshell, is the seamless integration of financial services into the customer journey into non-financial applications wherever they are needed. For example, an app that helps employees find work can also provide them with ways to get paid faster and help them separate their business finances from their personal money. Apps like these that intelligently integrate financial services can provide customers with unparalleled convenience and ease of use, improving customer experience and building loyalty. With Weavr’s radically simplified Plug-and-Play Finance model, digital businesses can launch and monetize financial services quickly and efficiently, and at a fraction of the cost of the traditional Banking-as-a-Service (BaaS) model.

“We are thrilled to empower digital businesses in Singapore, and the region for which Singapore is such an effective hub, to seamlessly integrate financial services where their customers need them. We see few better opportunities to deploy a significant portion of the $40 million in capital we raised earlier this year to bring the benefits of integrated finance to digital innovators and ultimately their clients across the region. said Weavr co-founder and CEO Alex Mifsud.

Aligned with the Financial Services Industry Transformation Map (ITM) 2025 Announced in September 2022 by the Monetary Authority of Singapore (MAS), Weavr’s entry into Singapore is part of a dynamic of innovation fueled by integrated finance, which in turn will redefine business models for a more great resilience. This availability of simple solutions to deploy financial services will further enable Singapore businesses to drive innovation and create more value for all stakeholders. Singapore is well positioned as a hub for digital and financial innovation in the region and a natural first step in Weavr’s mission to help online businesses and SMEs radically innovate through the simplicity of their financial solution. integrated. The move will also allow Weavr to contribute to meaningful advancements in financial inclusion, green technology and more, as part of Weavr’s commitment to environmental, social and governance (ESG) investing.

Weavr’s unique financial plugins represent a simple solution for any business to seamlessly deploy financial services within their own platform without any heavy lifting. Key benefits include:

● Pre-built solutions for a range of use cases that reduce time to market to just 5 weeks and support compliance, data security and regulatory.
● A low-code offering that allows brands to integrate services quickly and seamlessly without compromising quality and security.
● Scalable solutions that allow customers to add new financial services in new markets as they grow.

The British High Commissioner to Singapore, Kara Owen CMG, said, “It’s fantastic to see Weavr expanding into Singapore. Their presence here will help more Singaporean businesses – and those in Southeast Asia, as it expands – to seamlessly integrate financial services for their customers. Our financial services trade with Singapore was worth £1.7 billion in 2020. This value will only grow as our countries seize the opportunities of digital trade and technological innovation. The UK-Singapore Digital Economy Agreement, which came into force in June this year, will help more companies embark on journeys like Weavr’s. We are delighted to celebrate Weavr’s success.

“I am delighted to see British fintech Weavr expanding into Southeast Asia with the opening of its office in Singapore as a launchpad in the region,” added Natalie Black, UK Trade Commissioner for Asia-Pacific. “The UK Digital Trade Network, powered by Tech Nation, helps UK companies like Weavr make the most of opportunities in South East Asia. With a market of 650 million people with significant demand for innovative fintech that can make business and everyday life easier, the demand for products like those from Weavr is significant.

Sam Evans, International Director at Tech Nation, also said: “As part of the UK government’s Digital Trade Network, Tech Nation has worked with over 300 UK tech companies interested in expanding into South East Asia. We are delighted to see Weavr now entering the Singapore market and look forward to continuing to support their growth in this region.

“We are delighted to see continued interest from UK businesses in leveraging Singapore as a stepping stone to South East Asia amid rising technology demand and digital adoption in the region,” added YC Choy, Vice President and Head of Region (Europe), Singapore Economic Development Board. “We warmly welcome Weavr to Singapore’s fintech community and will continue to work closely with the team to drive innovation and deepen their capabilities to seize new opportunities in the region’s booming fintech sector while enriching the local ecosystem.”

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The issuer is solely responsible for the content of this announcement.

About Weavr

Weavr enables digital businesses to seamlessly integrate financial services into their application through a radically simplified model, called Plug-and-Play Finance. In just weeks, businesses can launch and monetize financial services – and at a fraction of the cost of Banking-as-a-Service (BaaS).

By making embedded finance accessible to a much wider range of digital businesses, Weavr is helping to drive a new wave of expansion at the frontiers of embedded finance innovation.

Founded in 2018, with offices in London and Malta, the company is backed by renowned names such as Tiger Global, which led its $40m Series A in 2022 to deepen its operations in Europe and expand to United States and Singapore.

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