
Navis invests in Singapore fintech supplier Moneythor
Navis Capital Partners has made an investment of undisclosed size in Moneythor, a Singapore financial technology supplier focused on digital banking.
The private equity firm is currently raising its eighth fund, which has a target of $1.75 billion and focuses on middle-market buyouts in a range of $10-50 million.
Founded in 2013, Moneythor helps financial institutions, card issuers, and fintech companies with their digital banking operations via cloud-native software and data-driven recommendations that aim to improve customer engagement through personalization. It targets a number of service channels, including mobile, internet, ATMs and, chatbots.
The company claims to have a global presence with offices in London, Paris, and Tokyo, and relatively stronger penetration in Asia and Africa.
Navis intends to leverage synergies with existing portfolio company DZ Card, a smart card manufacturer with a global footprint that began operations in the 1970s. The plan is to expand Moneythor into new markets, where DZ Card has established relationships. Navis expects both companies to offer a wider suite of product and service offerings going forward.
"Digital banking and fintech is growing and quickly evolving to be a part of consumers’ everyday lives in markets across the globe,” Rajendra Pai, a partner at Navis, said in a statement. “In these days of elevated customer expectations Moneythor’s solutions synthesizing insights through AI [artificial intelligence] and ML [machine learning] help make digital financial services more relevant, more personal, and insightful for customers, thereby creating incredible value and customer experiences.”
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