Nityo becomes largest shareholder in MatchMove with $100 million investment

Nityo becomes largest shareholder in MatchMove with $100 million investment

News
June 10, 2021 by J.D. Smith
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IT services company Nittyo has invested $100 million to acquire a significant equity stake in Singapore-based banking-as-a-service platform MatchMove. Nityo will become the largest shareholder in MatchMove, valuing the company at $500 million pre-money and $600 million post-money. The US-based company intends to on-sell MatchMove’s BaaS services to its 3000 enterprise clients wordlwide. Naveen Kumar,
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IT services company Nittyo has invested $100 million to acquire a significant equity stake in Singapore-based banking-as-a-service platform MatchMove.

Nityo will become the largest shareholder in MatchMove, valuing the company at $500 million pre-money and $600 million post-money.

The US-based company intends to on-sell MatchMove’s BaaS services to its 3000 enterprise clients wordlwide.

Naveen Kumar, founder & CEO of Nityo, comments: “This investment is the foundation of our goal to accelerate worldwide adoption of embedded digital financial services.”

Shailesh Naik, founder & CEO of MatchMove, says: “Nityo brings us everything we need to grow: executive experience in growing and expanding a global tech company, thought leadership, growth capital, large and deep talent pools around the world, and existing relationships with many leading organisations. This investment is game-changing for MatchMove, as it will immediately give us presence in 38 countries, combined with a massive ability to execute and deliver on the rising global demand for digital payments and embedded finance.”