This archive report was first published on 12 November 2019.
On November 10, 2019, Singapore fintech startup M-DAQ announced it had won the backing of Samsung Group's venture capital fund to expand in South Korea and beyond.
The company, however, did not disclose the exact amount of Samsung's investment.
According to Bloomberg, the company's valuation will exceed $368 million, up from $250 million in November 2015, thanks to Samsung's investment.
"Samsung is a key investor who will be facilitating our strategic expansion in Korea. This will happen within the Samsung ecosystem and also externally as well," said a report released by the FinTech firm.
M-DAQ Pte Limited provides financial technology services, offering a platform that prices and trades exchange-traded products in a multitude of currencies.
Other backers of M-DAQ include Ant Financial, EDBI, GSR Ventures, and Vickers Venture.
Samsung Venture is an investment arm of Samsung Group, investing in companies focused on semiconductors, IT, software, internet services, biotechnology, and content.
