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WadzPay Worldwide Pte. Ltd, a blockchain-based technology provider, recently secured a capital commitment of SGD $50 million in the form of a Share Subscription Facility (SSF) from GEM Global Yield LLC SCS.
The capital will accelerate the company's growth strategy via acquisitions, partnerships and organic initiatives, as per the company's statement.
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 SGD 50 million (approximately $36.7 million) upon a successful public listing for a thirty-six-month period.
What does WadzPay do?
Founded in 2018 by Anish Jain, WadzPay is a global blockchain-based technology provider for virtual assets.
The company's innovative platform, available as a SaaS offering, provides secure, efficient, and transparent technology solutions, catering to businesses (B2B) and consumers(B2B2C).
It works with large international companies, banks, and fintechs to enable virtual asset-based transaction processing, custody, and settlement. WadzPay operates across geographies spanning Athe sia Pacific, the Middle East, Africa, Europe, and the Americas.
"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.