Singapore (15 March 2018) – Jewel Paymentech (“Jewel”), provider of risk intelligence solutions to payment networks, banks and payment gateways has secured Series A+ funding led by GMO Payment Gateway Pte. Ltd. (a Singapore subsidiary of GMO Payment Gateway, Inc. (TSE: 3769)). The firm’s existing backer Tuas Capital Partners Pte. Ltd. also returned to co-invest in this round.
As digital payments begin to transform Asia to a cashless society, Jewel’s suite of solutions is set to tackle the different challenges faced in digital payment acceptance. These include making merchant signup instantaneous, onboarding of small merchants, allowing merchants to be more mobile across countries and making payments safer through fully automated risk technologies.
This new funding will support Jewel’s market expansion plans as well as to accelerate the development of new deep learning AI technologies to facilitate the cash to cashless conversion.
As part of the investment from GMO-PG, Jewel will also form a partnership that will see Jewel products being rolled out in the Japan market. CEO of Jewel Paymentech, Sean Lam said, “We’re extremely excited with the capital alliance formed with GMO-PG, which will enable to us to penetrate new markets in Asia region.”
About Jewel Paymentech
Jewel Paymentech is a financial risk technology company founded in 2014 with a mission to develop intelligent risk solutions for the banking and electronic payments industry. Jewel provides a complete suite of intelligent solutions to solve gaps in ePayment acceptance such as instant on-boarding, merchant due diligence, transaction laundering, counterfeit & illegal product management as well as transaction fraud management using predictive analytics.
Based in Singapore with offices in Malaysia and Hong Kong, Jewel currently provides ePayment AI risk management to the region’s largest banks and payment networks.