Singapore-based startup Fastacash has raised USD3m in a series A round to develop its Facebook money transfer service. Users need only connect their debit card to a Fastacash account, generate a link from the Fastacash dashboard, state which Facebook friend they want to send the money to and send. Investors in the round included Singapore-basedJungle Ventures and SPRING SEEDS Capital amongst others.
“We are offering a new way of transferring value with just a secure link. People or companies can now share stories, photos and experiences when sending value. Every action of sharing is accompanied by an emotional sentiment,” said Vince Tallent, Chairman and CEO, fastacash.
He added, “Our solution is adaptable across multiple platforms. We are looking to work closely with our partners from different industries to understand the respective consumer behavior and to offer the best use of the link generation technology, which will lead to an enhanced end consumer experience. Our vision is to create a global network by connecting our partners, where moving value can be simple, secure and done across multiple social networks and messaging platforms.”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.