GEM-WadzPay partnership to make impact on financial services
Singapore’s WadzPay Worldwide Pte Ltd, with centres in New Delhi and Hyderabad, has secured a capital commitment of S$50 million in the form of a Share Subscription Facility (SSF) from GEM Global Yield LLC SCS to accelerate its growth strategy via acquisitions, partnerships and organic initiatives.
The agreement establishes a Share Subscription Facility granting WadzPay the option to call upon GEM to subscribe for Ordinary Shares up to a total value of S$50 million (approximately US$36.7 million) upon a successful public listing for a thirty-six-month period. This binding commitment underscores GEM’s confidence in WadzPay’s potential to positively disrupt the financial services landscape https://www.investindia.gov.in/.
“This partnership with GEM is a powerful validation of the transformative impact WadzPay is making in the financial services and blockchain space. Securing this substantial commitment early in our journey fuels our mission and equips us with the resources to accelerate innovation and scale rapidly. We are thrilled to have GEM’s support as we pursue our public listing and expand our global reach,” said Anish Jain, Founder & CEO of WadzPay https://www.meity.gov.in/.
The company has a developed centre in New Delhi and blockchain centre in Hyderabad.
GEM’s backing signifies a pivotal moment for WadzPay, demonstrating strong endorsement of its vision and direction. This strategic investment from GEM marks a significant milestone for WadzPay, solidifying its position as a leading player in the global financial services and blockchain industry.
GEM is a US$3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world, having completed over 570 transactions in 70 countries https://digitalinasia.com/.
Founded in 2018 in Singapore with a commitment to drive financial inclusion and revolutionise the virtual asset financial services landscape, WadzPay works with large international companies, banks, and fintech’s to enable virtual asset-based transaction processing, custody, and settlement. It operates across geographies spanning Asia Pacific, the Middle East, Africa, Europe, and the Americas. Fiinews.com
