The Business Times
business-time-50
SGSME logo

Local fintech startup HomePay looks to bring greater security to Singapore’s renovation industry

Its mobile app reduces the risk of scams by protecting homeowners through an escrow-payment system

Summarise
google-preferred-sourceAdd BT as a preferred source

Jermaine Fok

Published Wed, Apr 8, 2026 · 11:00 AM
阅读简体中文版 (beta)
    • Wenny Lim, HomePay co-founder and COO, says the app "protects millions of dollars in renovation payments weekly because renovation contracts are not small in value”.
    • Wenny Lim, HomePay co-founder and COO, says the app "protects millions of dollars in renovation payments weekly because renovation contracts are not small in value”. PHOTO: TAY CHU YI, BT

    [SINGAPORE] The Republic’s home renovation industry is worth billions of dollars and stories of disputes and scams are commonplace.

    One Singapore startup, however, is doing what it can to bring greater accountability and security to help and protect homeowners throughout what is usually a lengthy process.

    Wenny Lim, co-founder and chief operating officer of renovation escrow platform HomePay, noted that renovation “scams and nightmares” have become more common over the last few years.

    Singapore SMEsSMEsEntrepreneursEntrepreneurshipFintechSingapore fintech

    TRENDING NOW

    (From left) Dushan county’s ambitious Shuisi Building project and an unfinished, full-scale replica of the Titanic in Daying county.

    Abandoned ‘Titanic’, failing ‘ancient towns’: Why China’s tourism boom leaves white elephants behind

    David Rubenstein, co-founder and co-chairman of The Carlyle Group, warns against “just trying to do deals for the purpose of doing deals, as opposed to getting high rates of return”.

    Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein

    DPM Gan Kim Yong says MAS will remove the 5 per cent cap on physical investment precious metals under the tax incentive schemes for funds.

    Singapore to establish over-the-counter gold clearing system, central bank vaulting by end-2026

    “Findings suggest that roles are being reconfigured, rather than phased out, as demand for AI-related jobs rose,” the PwC report noted.

    Singapore public sector commands highest AI salary premium as job postings surge: PwC study

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More