Singapore-based fintech startup M-DAQ raises funding from Samsung, bringing cross-border payments to South Korea

Singapore-based fintech startup M-DAQ announces that it has received backing from Samsung Venture Investment Corporation. The Korean tech giant’s investment arm has joined other investors in M-DAQ’s pre-series D round, Bloomberg reported.

Joining the pre-Series D round are Ant Financial, EDBI, GSR Ventures, and Vickers Venture.

The latest funding boost put the fintech startup’s valuation at S$500 million (US$367 million).

Founded in 2010, M-DAQ has been facilitating cross-border business payments to several different industries. M-DAQ provides its partners with the platform that has support from global foreign exchange providers and also with its proprietary data technology that helps customers settle physical and financial assets in their preferred currency.