Malaysia’s Navis Capital Invests In Singapore’s Fintech Solutions Firm Moneythor

Malaysia’s Navis Capital Invests In Singapore’s Fintech Solutions Firm Moneythor

Malaysia-based private equity firm Navis Capital Partners on Monday announced that it has completed an
investment in Singapore-headquartered fintech solutions firm Moneythor Pte Ltd.

The financial terms of the deal were not disclosed.

Founded in 2013, Moneythor provides financial institutions and fintech firms with solutions to enhance digital
banking services.

“Moneythor’s solutions synthesising insights through artificial intelligence and machine learning help make digital
financial services more relevant, more personal and insightful for customers thereby creating incredible value and
customer experiences,” Navis partner Rajendra Pai said in a statement.

Navis was advised by PwC and Ashurst on the deal.

Moneythor, which has a presence in London, Paris, and Tokyo, will work closely with a Navis portfolio firm DZ Card,
a Thai smart card solution and payment security system provider. Navis expects Moneythor and DZ Card to offer a
wider suite of product and service offerings to customers in the financial service sector.

Navis’s investment comes at a time when the digital banking space is seeing a lot of activity in the Southeast Asian
region.

Last month, the Monetary Authority of Singapore announced that it will award digital full bank licences to the Grab-
Singtel consortium and tech giant Sea and wholesale bank licences to Ant Group and a consortium comprising
Greenland Financial Holdings, Linklogis Hong Kong and Beijing Co-operative Equity Investment Fund
Management.

Malaysia too has issued a policy document on the licensing framework for digital banks. The country’s central bank
has said up to five licences may be issued to qualified applicants.

Navis manages approximately $5 billion in public and private equity capital and focuses on investments primarily in
and around Asia. Last week, TES, a Navis-backed e-waste recycling service in Singapore, announced that Japan-based
Sojitz Corporation has acquired a minority stake in TES-AMM JAPAN K.K.

In August last year, DealStreetAsia reported that Navis, which is in the process of raising its eighth fund, is said to
have extended the fundraising to April. The firm is seeking up to $1.9 billion for Navis VIII.

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