Surfin Meta Digital Technologies, a Singapore-based financial technology solutions provider for the underserved, announced the completion of its oversubscribed funding round. Woori Venture Partners, Washington University in St. Louis, and Phillip Private Equity also participated in this round, bringing the total funding to $26.5 million.
The company previously raised $12.5 million in a funding round led by Insignia Ventures Partners in October 2024. This funding round reflects continued investor confidence in Surfin’s business model and mission to support the unbanked and underbanked in emerging markets.
With this additional funding, Surfin is well-positioned to build on its capabilities to develop more innovative technologies and build a sustainable digital financial ecosystem.
What the funding will be used for: The proceeds will be used to support Surfin’s development into new markets, as well as to expand the company’s research & development initiatives to build a holistic suite of intelligent financial products in these markets.
Advisor: Haitong International Securities Singapore assisted as a financial advisor in this funding round.
KEY QUOTES:
“I have always believed that financial inclusion is critical towards helping less privileged people who face difficulties to access even the simplest of financial services in emerging markets. We are proud to close our funding round with strong interest from well-known institutional investors that also stand testament to Surfin’s outstanding performance and potential to grow into a truly global fintech company. We are very excited to work with Insignia, Woori, Washington University in St. Louis, and Phillips, and believe they will provide us with additional guidance and resources with which to take on this challenge.”
Dr. Yanan Wu, CEO and Founder of Surfin Meta Digital Technologies
“Having partnered with many fintech companies over the years, it has been rare to find a company like Surfin bootstrapped and grown to scale across multiple markets, having to manage the complexities and nuances of each. It has the potential to truly become multi-country and multi-product, a trajectory rooted in the company’s depth of consumer data at scale, which can be harnessed to deliver hyper-local, hyper-personalized financial services. Surfin is at the forefront of a wave of companies driving equitable economic growth through data factories rather than physical ones. We are proud to see that their mission of financial inclusion for emerging markets has continued to attract the support of global investors.”
Yinglan Tan, Founding Managing Partner of Insignia Ventures Partners
“We are excited to back Dr Wu and his team in its ambition to redefine financial inclusion. Surfin has made remarkable progress in creating an ecosystem of technology-powered financial services across emerging markets such as Indonesia, Philippines, India and Mexico from Singapore. Even more impressive, it has done so bootstrapped before the current institutional round. We are looking forward to supporting Surfin in its next phase of expansion.”
Alan Ang, Director of Woori Venture Partners
“Despite the challenging market environment, we have been impressed by Surfin’s continued commitment toward building a sustainable business model while delivering on its vision to bring financial inclusion for the less privileged in the region. We are proud to be part of this funding round by Surfin to support their continued growth journey to become a global fintech leader.”
Grace Tang, CEO and Managing Director of Phillip Private Equity, a member company of Phillip Capital Group
“We are honored to have supported Surfin and Dr. Wu in reaching this important milestone. The success of this round reflects the clarity of Surfin’s mission, the strength of its leadership, and the confidence it has earned from respected investors. Dr. Wu’s vision to advance financial inclusion through technology is both compelling and urgently needed across emerging markets. We look forward to seeing Surfin continue to scale its impact.”
Deng Luming, Chief Executive Officer of Haitong International Securities (Singapore) Pte. Ltd.
