Samsung backs Singapore’s fintech startup M-DAQ — closing its pre-series D round

M-DAQ will expand in Korea with Samsung’s support.

Syamil Faisal

11 Nov, 2019

Samsung backs Singapore’s fintech startup M-DAQ — closing its pre-series D round | BEAMSTART News

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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.

M-DAQ's website homepage showing its business traction.

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.”

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