Based in Singapore, fintech startup M-DAQ will expand into South Korea and more regions with Samsung’s investment in the company.
Samsung invested in M-DAQ’s pre-series D round at an undisclosed amount, doubling the startup’s value in November 2015 from $184 million to now; $368 million.
Apart from Samsung, M-DAQ had gained backing from Ant Financial, EDBI, GSR Ventures, and Vickers Venture.
M-DAQ Chief Executive Officer Richard Koh said:
“Samsung is a key investor who will be facilitating our strategic expansion in Korea within the Samsung ecosystem and externally as well.”