National Pulse Funnels in Singapore fintech Firm Aleta Planet

The strategic management firm National Pulse from the United Arab Emirates has made an investment in the payments solutions provider Aleta Planet, which is based in Singapore. Established in 2014, Aleta Planet enables worldwide payments through China's well-known services like UnionPay. According to Ryan Gwee, the founder and group chairman, around $2 billion in cross-border payments are processed each year.

Aleta Planet announced that the investment will allow them to increase their presence in the UAE, Middle East, and Africa, as well as offer cross border payment services to businesses in the region.

"With National Pulse and its portfolio companies that will be using our system, I think we can easily hit the $6 billion mark," Gwee told Reuters, adding that Aleta Planet will hit the target within the next 12 months.

Gwee mentioned that they also intend to establish a collaboration with National Pulse to create a joint-venture company, specifically concentrating on business-to-business cross-border transactions in the Middle East, with a primary focus on the agri-trade and logistics sectors.

H.E. Al Ketbi said: “The innovative and transformative technologies of Aleta Planet are reshaping how cross-border transactions are managed. Their expertise in handling multi-currency transactions will greatly enhance our upcoming digital solutions, set to revolutionise the international trade and digital economy landscape."