Singapore's fintech Inypay has a $2 billion dream, powered by an Indian at the helm

Inypay, a Singapore-based neobank founded by Indian entrepreneurs, will open its doors in the second quarter of this year. Following a successful pre-seed round of $1 million in September of last year, the neobank intends to raise seed funding in the coming months.

According to ANI, the digital bank's primary focus in Southeast Asia will be micro-lending, remittances, domestic payments, e-wallets, personalised and communal savings, and micro-insurance.

Arivuvel Ramu, the neobank's founder and CEO, has previously led digital transformation programmes for banks in Southeast Asia, the Middle East, and North America.

"We're here to drastically improve the lives of the underserved and unbanked in Southeast Asia by building a legendary financial institution valued at $2 billion by 2026," Ramu told ANI.

According to a survey, India Inc. may increase salaries by 9.8% in 2023. In 2023, India Inc. may increase salaries by 9.8%.

The bank currently employs over 30 people in Singapore, India, and Vietnam.

Ramu described his previous experience in establishing a neobank in a developing economy "I founded the Philippines' first successful neobank with a digital engagement platform. It is now time to create Asia's first financial experience platform ".

Members of the neobank's leadership have Indian roots but have worked in global banks such as Standard Chartered Bank, RHB Banking Group, Capgemini, DBS Bank, and Tonik.

According to the neobank's website, Sudhir Nain, the chief experience officer, is also the founder of Bayzil design studio and has 22 years of experience in UI and UX.

The firm's chief partner channel officer Senthil Sambandam has over 22 years in IT sales, partner channel and business development. The CPO is also the co-founder of Intelizest a company which works in facilitating supply chain automation.