Razer Fintech, a subsidiary of the hardware company Razer, plans to expand its presence across the Southeast Asian market and other emerging markets such as India and Latin America, media reports said. The company’s expansion plan is a part of its fintech business growth.
Razer Fintech chief executive Lee Li Meng, told the media, “The company is well-positioned to grow its digital banking business and is able to pivot quickly from its digital payments business to being a digital banking platform. The company is also looking abroad for more opportunities in this field. We want to build a global business and leverage on the Razer ‘s side of things as they grow alongside the fintech business.”
According to Razer Fintech, it is waiting for bidding results which was floated for a digital banking license in the country. Furthermore, the company is also applying for licenses across other neighbouring countries.
The company ranks among the top digital payment services provider in Southeast Asia. It has carried out transactions worth billions of dollars since its inception two year ago. Razer Fintech is also a part of a consortium that is seeking one of five licenses in Singapore’s digital banking space.
The company’s first quarter revenue surged 25.3 percent year-on-year growth for the period to $447.5 million amid the Covid-19 pandemic which have hampered major economies by storm. Razer fintech saw profit mainly because of its strong business growth across peripherals portfolio and services.