Singapore-based fintech startup Mesitis raises US$3m

A SINGAPORE-BASED financial technology start-up has raised US$3 million to ramp up the roll-out of its account aggregation platform.

Mesitis was founded in 2013, and late last year launched Canopy, a platform which pulls together financial data across all banks and asset classes into a single portfolio for an individual.

The amount raised in Series A Funding came from individuals, many of whom were experienced startup investors including the company's customers, said Mesitis. The rest of the investment was made by its employees.

"I consider this a great vote of confidence in us," its founder CEO Tanmai Sharma said.

Mesitis' customers include wealth managers, family offices, private banks and trust and fund administrators. The platform currently reports on over S$1.1 billion in assets.

"Canopy's ability to take data in any format, including PDF statements, has proved to be a strong aid in client onboarding," said Mesitis chief commercial officer Takeshi Yoshida. "And we are keeping our customers happy with the reports, which are in the form of an interactive web app accessible from any electronic device including smartphones."

The firm also recently launched alerts notifying users of large price movements in the assets they own, added Mr Yoshida. This has proven to be very popular with customers.