A wonderful conclusion to 2018 and a eventful start for 2019
SINGAPORE: SCash Technologies Pte Ltd (SCash) accomplished a major milestone on Tuesday, 15 January 2019 when it launched the very first Alipay mini-program in Singapore. The mini-program that was developed for its client, Resorts World Sentosa (RWS), will enable Alipay’s Chinese users to discover the various exciting offerings at RWS, purchase tickets to Universal Studios Singapore, or make a reservation at one of its award-winning restaurants. Riding on our recent success with the Alipay mini-program for RWS, we are now answering proposal requests from other enterprise merchants interested in developing their own mini-programs.
The successful launch with RWS demonstrated to SCash and its stakeholders the importance of Alipay mini-program development as a significant revenue stream, which would require additional resources. SCash is now conducting a Founders’ funding round (Pre-Series A) to raise S$3 million in new equity to shore up necessary capital to build its mini-program and on line capabilities. This comes after an initial seed funding round that concluded in December 2018, which saw an injection of S$1.35 million from angel investors.
As a relatively young startup that began in October of 2017 and commenced commercial operations in June of 2018, SCash now has a portfolio of over 1,000 merchants. Some notable names include Miniso, Spectacle Hut, Vall ram Group and PVH Corp.
SCash is not an idea nor a concept, but a technology company with actual working solutions that empower merchants beyond transactions. What started out as a smart app offering, has now become a suite of enabling solutions focused solely on the merchant.