Singaporean FinTech MatchMove has acquired a stake in ecommerce solutions company Shopmatic.
In Brief:
- MatchMove’s Banking-as-a-Service wallet will be extended to the Shopmatic ecosystem.
- This includes over 435,000 businesses and entrepreneurs.
- Shopmatic aims to help its network increase sales by opening up access to new markets.
What does this mean?
As well as integrating Matchmove’s service, Shopmatic hopes to use Matchmove’s reach to gain new customers and grow across the region. Financial details of the strategic acquisition have not been disclosed.
