SoCash turns shops into cheaper ATMs for banks
Vertex-backed startup targets US$8 million Series B funding round by end-June
Claudia Chong
Singapore
BANKS in Singapore spend about US$200 million a year on ATM maintenance, logistics, insurance, counting and cleaning cash, and a host of other expenses just to maintain circulation of physical cash, estimates Singapore startup SoCash.
Helping banks to solve that multi-million dollar headache is the mission of SoCash, which is planning a US$8 million Series B fundraising round in a few weeks.
TRENDING NOW
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Chagee, Mixue and Luckin won the market. Sustaining their edge is the harder part
Canada is upping oil flows to Asia, but South-east Asia’s refineries aren’t ready to handle them yet
