Digibank contender MatchMove takes stake in e-commerce enabler Shopmatic

Singapore

DIGITAL bank licence-contender MatchMove is taking a strategic stake in Shopmatic, a Singapore-based start-up that offers a suite of solutions for companies to start and manage their e-commerce businesses.

MatchMove's founder and group chief executive Shailesh Naik declined to reveal the size of the stake in Shopmatic, but told The Business Times that the deal is worth a few million dollars and will be fully financed through cash.