Blockchain-powered fintech startup ShuttleOne raises US$500K to expand in Malaysia, Indonesia
Sirius Venture Capital has invested US$500,000 seed funding in ShuttleOne, a blockchain-powered fintech firm based in Singapore.
According to a DealStreetAsia report, German investor Andromeda GmbH and private investors from Singapore, Indonesia, and Europe co-invested in the round.
ShuttleOne CEO Lim Hong Zhuang stated that the company will use the fresh funding to expand the company’s operations in Malaysia and Indonesia and to launch its services in Thailand and the Philippines.
ShuttleOne’s security modules on the blockchain will also be improved along with its corporate governance, he added.
ShuttleOne’s services include remittance services to individuals and loans to e-commerce merchants via its Smart Contracts blockchain protocols and digital tokens.
Founded in 2019, ShuttleOne obtained a licence from the Monetary Authority of Singapore.