Fintech company MatchMove clarifies that 80% of US$100m funding will be in services; cash component comes with conditions

MATCHMOVE on Wednesday disclosed that US$80 million of its US$100 million funding from US-based Nityo Infotech will be in the form of in-kind transactions, while the rest will be in cash.

Nityo's investment has also been approved by the Monetary Authority of Singapore, according to MatchMove.

This comes after The Business Times last month reported a delay in Nityo's investment. Sources had told BT that Nityo, an outsourcing company, agreed to invest in the startup only if majority of the funding is in the form of services.