AMTD recently revealed that it has invested in several Fintech companies, as a component of its Singapore Solidarity Fund, the guardianship of the ASEAN Solidarity Fund Group.
It is reported that AMTD has invested in the operations of Active. ai, Cardup, financial corporations, PolicyPal and Transwap. AMTD maintains a majority stake in PolicyPal. The consortium led through AMTD includes financial corporations that had been implemented to obtain a license to operate in Singapore. virtual bank based (Singa Bank).
A total of S$11. 5 million (approximately $8. 44 million) will be invested in all five Fintech corporations through investment structures such as convertible notes, stocks, options, threat debt and warrants.
The Singapore Solidarity Fund is controlled through the AMTD ASEAN Solidarity Fund, which has acquired a capital of S$50 million. The fund was introduced to assist eligible fintech registered on the API trading platform in ASEAN coVID-19 member countries.
Calvin Choi, president and CEO of AMTD Group, said:
“[We are] proud of the fintech network in Singapore in witnessing resilience and seizing opportunities in its innovation and money-generating sectors. The Solidarity Fund is a gym, a hub and an anchor. We invite more cutting-edge companies To sign up APIX and more marketers to sign up for our ecosystem, combined, we are delivering the most productive virtual delight of its kind to customers . . . locally [and] globally.
The ASEAN fund created through the AMTD Charitable Foundation and the ASEAN Financial Innovation Network (AFIN), a non-profit entity founded in 2018 through the ASEAN Bankers Association (ABA).
Supriya Sen, Independent Director and Chair of the AFIN Investment Committee, said:
“We are very pleased that the Solidarity Fund has already won more than 40 fintech programs and cutting-edge companies. “
Sen noted that they had undergone a thorough variety procedure and that only those five fintechs had been decided for the initial investment package. It demonstrated that AFIN remained committed to supporting Singapore’s fintech sector. The organization plans to generate new paintings of monetary generation with local ability to group and publicize the continued expansion of the country’s fintech sector.
AMTD will also provide determined fintech companies to their SpiderNet virtual platform and ecosystem.