Razer Fintech has appointed Lim Siong Guan as an Advisory Board Member.
Founded in April 2018, Razer Fintech is an offline-to-online (O2O) digital payment network in Southeast Asia. It is the financial technology arm of gaming hardware manufacturer Razer Inc. that operates two verticals: business-to-business solution Razer Merchant Services (RMS) and business-to-consumer solution Razer Pay which comprises an e-wallet.
Now as the fintech firm plans to roll out innovative solutions and embarks on its next phase of growth to expand, it needs a mentor to guide it through new challenges that are ahead.
Guan seems like a good choice for this role as he brings with him vast experience and immense networks that can help Razer Fintech in its next phase of growth.
The fintech firm has plans to expand the fintech business regionally and globally. And the firm believes Guan's vast experience and extensive network will add tremendous value and unparalleled insights to Razer Fintech.
“With Mr Lim coming on board, we will be able to leverage on his extensive experience and network in the global financial markets to scale up and successfully execute on our strategic roadmap,” said Tan Min-Liang, Co-Founder and Chief Executive Officer of Razer.
Guan had previously headed GIC Private Limited as Group President from 2007 to 2016. In his recent role, he was the adviser to GIC’s group executive committee until March 2019.
He has also served as a board member of the Monetary Authority of Singapore, and as chairman of the Singapore Economic Development Board from 2006 to 2009. He has worked on enhancing Singapore’s position as a global business centre and a critical hub in the global supply chain.
With such rich experience, now as Guan joins Razer Fintech, he shows trust in the company's vision and mission.
"I am a firm believer in Razer Fintech’s strategy and vision of addressing the unmet needs of underserved people, particularly the youth and the millennials who are the future consumers of the world, through technology and product innovation,” said Guan.
As the payment landscape continues to evolve and the fintech market continues to grows, Razer Fintech has many opportunities to tap onto.
As per recent reports, fintech is on the rise in Southeast Asia. In 2018, funding to fintech startups across Southeast Asia grew 143 percent year over year, hitting a record of $485 Mn invested across 68 deals. In fact, major investors like China’s Ant Financial and Japan’s SoftBank have also been making bigger deals in the area.
In May 2018, Indonesian lending platform Modalku (aka Funding Societies) received the largest ever funding for a P2P platform in Southeast Asia, raising a $25 Mn Series B led by SoftBank Ventures Korea. Then in early 2019, Ant Financial invested $40 Mn in Indonesian e-commerce payment and lending platform Akulaku. These are only some of the many deals highlighting the immense growth the sector might witness in the near future.
Supported by increased funding, large foreign investors, and strategic partnerships, there is a huge opportunity for companies to tap and bring more innovative and extensive financial services to the region.
Image Credits: The Business Times