soCash Pte Ltd
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soCash Pte Ltd - overview
Established
2016
Location
Singapore, -, Singapore
Primary Industry
Financial Services
About
soCash Pte Ltd is a financial technology company based in Singapore, specializing in digital payment solutions to enhance cash accessibility and streamline transactions for businesses and consumers alike. Founded in 2016 in Singapore, soCash Pte Ltd provides innovative digital payment solutions. In April 2022, the company was acquired by NIUM Pte. Ltd.
for USD 12. 5 mn, allowing for an expansion into local payment acceptance, especially in emerging markets. The CEO, Wee Tan, has been instrumental in leading the company through this transition. soCash Pte Ltd offers a variety of digital payment solutions designed to improve cash accessibility for businesses and consumers.
Their services facilitate seamless transactions, catering to the needs of both small businesses and larger enterprises looking to enhance their payment processes. The company serves clients primarily in Singapore and regionally across Southeast Asia, focusing on creating user-friendly solutions that integrate effortlessly into existing business operations. In 2022, soCash Pte Ltd reported a revenue of USD 272,455. 70 with an EBITDA of USD -3,593,424.
10. The revenue is generated from a model that includes subscription-based services and direct sales, with agreements for various service plans. With the recent acquisition in April 2022, soCash Pte Ltd plans to leverage the funding from NIUM Pte. Ltd.
to enhance its digital payment offerings and expand into new markets across Southeast Asia. The company aims to develop new products focused on local payment solutions by the end of 2023, targeting regions experiencing significant growth in digital commerce. The funds will support product development and marketing efforts to ensure successful market entry.
Current Investors
Vertex Ventures Southeast Asia & India, Glory Group, SC Ventures
Primary Industry
Financial Services
Sub Industries
e-Financial
Website
www.socash.io
Verticals
FinTech, Mobile Apps
Company Stage
Add-on
Total Amount Raised
Subscriber access only
soCash Pte Ltd - financials
| Fiscal Year Ended | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2018 | Sep 30, 2019 | Sep 30, 2020 | Sep 30, 2021 | Sep 30, 2022 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | 85,741 | 60,476 | 744,621 | - | - | - |
| % Revenue Growth (YoY) | - | - | (29.5%) | 1131.3% | - | - | - |
| EBITDA (USD) | (86,842) | (591,876) | (2,288,201) | (5,543,798) | - | - | - |
| Operating Income (USD) | (86,842) | (598,797) | (2,406,914) | (5,640,070) | - | - | - |
| Operating Margin | - | (698.4%) | (3979.9%) | (757.4%) | - | - | - |
| % EBITDA Margin | - | (690.3%) | (3783.7%) | (744.5%) | - | - | - |
| NET Income (USD) | (86,842) | (597,186) | (2,387,306) | (5,645,835) | - | - | - |
| % Net Margin | - | (696.5%) | (3947.5%) | (758.2%) | - | - | - |
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