EVONET Global Pte. Ltd Raises USD30 Million in Series A Round of Financing
SINGAPORE, Dec. 1, 2020 /PRNewswire/ -- EVONET Global ("the Company") is excited to announce that it has successfully raised USD 30 million in series A round funding from TIS Inc. (www.tis.co.jp) through CardInfoLink. The proceeds will be used to set up an innovative platform and business for financial services to support interoperability among mobile wallet operators, QR code acquirers and financial service providers. Once established, the platform will enable cross-border retail payment transactions and digitized financial services such as remittance, insurance and other services on mobile wallets globally. Users of mobile wallets can safely and conveniently access the services anytime, anywhere.
This new round of investment will also enable EVONET Global to capitalize on its position as a new technology leader in the mobile payment and financial services industry in East Asia to further expand its global footprints. As the mobile payment and financial services in the region are growing exponentially, the platform can help to grow the business to greater height through interoperability and shared financial services.
"The platform can create a new revenue stream and increase competitive advantage for mobile wallet operators by enabling interoperability retail payment and allowing mobile wallet users to access Northeastern Asia digitized financial services. The transaction volume is expected to grow rapidly in near future thanks to strong mobile lifestyle adoption," said James Zhao, CEO of EVONET Global.
About EVONET Global Pte. Ltd.
EVONET Global Pte. Ltd. is a fully owned subsidiary for CardInfoLink. It is an innovative financial services platform which helps to create a new revenue stream and increase the competitive advantage to connected mobile wallet partners by offering digitized financial services and cross-border retail payment service to their users.
About TIS Inc.
TIS Inc., a member of the TIS INTEC Group provides several IT solution services including entrusted development, data center and cloud services. At the same time, TIS is contributing to the growth of its customers business, a client base of more than 3,000 customers from various industries, such as financial services, manufacturing, logistics/distribution, public services and telecommunications, by being their technology partner and offering global support to companies with a presence mainly in China and the ASEAN region.
CardInfoLink was established in. 2010. It provides innovative payment technological solutions to more than 100 banks and non-banks for processing payment transactions in China, Japan, Korea and South East Asia. The international payment brands supported are Visa, MasterCard, UnionPay, Amex, JCB, Discover, Diners Club, MPU, Truemoney, GrabPay, WeChat Pay and AliPay . In addition, it also provides loyalty programs, escrow payment, mini-program and other innovative services. It has established offices in Shanghai, Wuxi, Hong Kong, Tokyo, Bangkok and Singapore to serve the increasing number of customers.
Foo Kok Hee
Regional Business Development Head