The brilliantly named MoolahGo, a leading multi-currency digital payments specialist in Singapore, said it had clocked up more record growth in the Q2 of 2020.
It recorded an impressive 480% jump in business volume compared to the same period in the previous year. This followed a two-fold rise in quarter-on-quarter volume, driving its quarterly net revenues up by more than 250%.
MoolahGo specializes in cross-border payments serving the B2B client segment and helping SMEs to large listed companies improve their FX and cross-border payments transactions.
Through its open API Integration platform, MoolahGo has attracted many financial institutions, eWallets and businesses around the world to join its rapidly expanding network.
By connecting to MoolahGo, its members are able to digitize their cross-border payment transactions, tap into new revenue opportunities and reach new customers in over 40 countries, across more than 20 currencies via its payout network of over 1,000 banks and agents.
“We feel very confident of our business going forward knowing that the payment services that we provide to our customers have been market tested during these very challenging times of a pandemic,” said John Hakim, founder and CEO of MoolahGo.
In a statement the company noted that this growth comes soon after it concluded a post-seed funding round with the Asian business giant, Lippo Group, concluded last March. To take its business to the next phase, MoolahGo told NextMoney that it is planning its Series A funding round and is already seeing interest from institutional investors.