Headquartered in Singapore, Koku is a privately held company that was founded by Calvin Goh in the year 2016. Koku empowers Non-Bank Financial Intermediaries (NBFIs) as well as non-bank remittance companies and liquidity providers by enabling them to advance their business operations. The fintech startup offers foreign exchange (FX) technology solutions to these NBFIs to so that they can provide cost-effective, quicker, and digital-first remittance services to their customers all around the world.
In addition to that, Koku is supported by a group of investors from Decent Capital who employ innovative business structuring and technology to facilitate the inclusive growth of the financial sector.
Impressive Funding Support
Koku has declared that it has raised an amount of US$2 million from Pre-Series A funding conducted by Jason Zeng, Tencent Holding’s Co-founder and founder of Chinese angel investment company Decent Capital. Koku has made it clear that the funds will be utilized to expand the company into new Southeast Asia markets and boost Koku’s product development roadmap. Moreover, the regional expansion will facilitate the growth of Koku’s FX TechUP suite, onboarding of world-famous technologies such as AI, and machine learning to leverage data to provide maximum benefits to users within the ecosystem.
Koku At A Glance
Since the very first funding round, Koku has stated that it is able to enhance cross-border collaboration between non-bank remittance service and liquidity providers in the region. Furthermore, Koku has planned to raise a target of US$10 million in Series A funding by the year 2019 to develop offerings and expand into new markets. At present, the company is working with NBFI partners in Singapore, Hong Kong as well as the Philippines. Koku believes that this round will be very advantageous for the company as it will increase the transaction volume of US$10 million per day to US$30 million. Besides that, it will offer Koku with potential entry into markets in Southeast Asia including Indonesia, Cambodia, Vietnam, and Myanmar within a period of just six months.
The Road Map
Koku is undoubtedly a boon for financial service providers. It helps businesses provide their customer with cheaper and efficient digital-first remittance and FX services. Last but not least, get in touch with Koku in order to step up your remittance and FX business in the best way possible.
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