SoCash turns shops into cheaper ATMs for banks
Vertex-backed startup targets US$8 million Series B funding round by end-June
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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.
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