UK fintech Currencycloud on hiring drive for new Asia-Pacific HQ in Singapore

LONDON-BASED fintech startup Currencycloud has named Singapore as its Asia-Pacific headquarters, and is set to hire more than 50 staff here over the next year, the company told The Business Times.

Currencycloud will occupy a new office in Raffles Quay, and use Singapore as a hub to expand regionally. The office will provide on-the-ground support for Currencycloud's existing customers here, including TranSwap, NIUM, Wallex, XTransfer, WireBarley, PicoPay, CurrenC and Geoswift.

The company is also appointing a managing director for this region, Rohit Narang. He is co-founder of Trusting Social, a big data-analytics firm specialising in credit scoring on alternative data. Prior to that, he spent nearly 20 years in investment banking and private equity, including at Deutsche Bank and Goldman Sachs.

"Asia-Pacific is a hotbed of financial innovation... Our office in Singapore will enable us to continue to improve our services for our customers across South-east Asia, Australia, Hong Kong and Japan," said Todd Latham, chief growth officer at Currencycloud.

Launched in 2012, Currencycloud is a business-to-business firm that specialises in global, multi-currency account infrastructure and cross-border solutions. The company is applying for a major payment institution licence from the Monetary Authority of Singapore.

Mr Narang said: "I'm thrilled to be joining Currencycloud during an exciting stage in the company's international expansion, and at a time when the need to accelerate the shift to digital payments across the Asia-Pacific region has never been greater."