TechCreate Solutions Private Limited, a Singapore-based technology services group specializing in innovative digital payment and digitalization solutions, and Diginius Pte. Ltd., a provider for IT security and infrastructure solutions, recently announced a merger between both companies via a share swap transaction that will value the enlarged FinTech enterprise, TechCreate Group, at USD$30 million, based on a valuation that was recently completed by one of the Big 4 accounting firms. TechCreate has been at the forefront of technology innovation as a trusted leader in digital solutions. Since its establishment, it has developed its own proprietary Real-Time Payment Engine (RTE) that can further enhance the payment capabilities of financial and banking institutions. Leveraging its technological expertise, legal experience, and extensive operational track record, TechCreate has successfully enabled end-to-end digital solutions (such as payment gateways, API gateways, and blockchain solutions) for several banking and financial institutions in Asia.
The COVID-19 pandemic has accelerated Asia’s payments megatrends. The rapidly expanding number of connected and digitally active consumers with booming e-commerce markets reinforces the need for digital solutions. The competitive landscape was simultaneously heating up, with the entry of formidable new players–including telecommunications firms, FinTechs, “big techs,” and other conglomerates–spurring incumbents to step up their innovation efforts. Meanwhile, regulators sought to standardise infrastructure while encouraging competition, fostering the introduction of real-time payments, digital know your customer (KYC), and various local payment schemes. This is a transformational transaction for both companies, creating an enlarged company with end-to-end digital payment offerings in high-growth verticals as economies in Asia accelerate their digitization roadmap.