The digital financial start-up group SDAX Financial has raised US$24 million in the first closing of its Series B funding round, which is the company’s second round of funding after its development stage, led by PSA International (PSA) and Straits Trading.
SDAX Financial Group is an integrated digital financial services platform, driven by a Digital Asset Exchange that integrates its corporate and consumer businesses, and aims to build a global fintech powerhouse leveraging on blockchain technology.
“We are delighted to welcome PSA and Straits Trading as key partners into our digital financial services ecosystem,” stated the chairman of SDAX Financial, Tan Chong Huat, who went on to add, “Their expertise strengthens the group’s twin-engine focus of Environmental, Social, and Governance (ESG) solutions and real estate to deliver a compelling value proposition for our ecosystem stakeholders and investors.”
Through its investment in the fintech group, the global port operator PSA promotes ESG solutions for ports, supply chains and “climate-conscious” cargo owners. “We believe we can make a positive impact towards the decarbonisation of global supply chains, through collaborating with SDAX Financial’s integrated digital financial services platform,” said Tan Chong Meng, group chief executive officer of PSA International.
In addition, the participation of the investment company Straits Trading, coupled with the real estate fund management firm ARA Asset Management who had invested in an earlier round, further strengthens the real estate origination capabilities of the group.
The new funding from strategic partners, including New Horizon Global, bolsters SDAX Financial’s growth initiatives which include the roll-out of new product offerings and further development of its technology platform.
