Singapore
Nearex Technologies, founded in 2012, is a Singapore-based company primarily focused on facilitating cashless micropayments through mobile technology. Despite its current inactive status, the potential impact and scope of its solution remain relevant in the context of the increasingly digital global economy.
Conceived by veterans of the mobile and financial sectors, Nearex targets the unbanked populations in emerging markets where mobile money technologies are pivotal for financial inclusion. The company's flagship product, Xip, is a mobile micropayment solution designed to simplify these transactions for small-scale merchants and consumers alike. This technology aligns with the significant business opportunity in the sphere of global cashless transactions worth billions annually.
The last reported investment round for Nearex Technologies was a Series B in July 2015, with investors including Beenos and Tata Capital. Its innovation in the financial tech domain underscores its potential attractiveness for future investments pending its reactivation.
