Razer unit, Sheng Siong owners toss hat in ring for digital bank licence

Singapore

A CONSORTIUM including Razer Fintech and Sheng Siong's founders has submitted an application for a digital full-bank licence in Singapore, focusing on the "underserved youth and millennials segment" for the bid, gaming lifestyle brand Razer Inc said in a statement on Thursday.

The consortium also includes insurance business FWD, Internet company LinkSure Global, Singaporean technology venture fund Insignia Ventures Partners, and vehicle wholesale marketplace Carro. The Lim brothers who founded supermarket chain Sheng Siong, are participating via their private vehicle Sheng Siong Holdings. The mainboard-listed entity Sheng Siong Group is not involved in the bid.