Singapore’s Sunrate hits a $100 Million this past years
Yo yo yo, all my finance nerds! Gather round, ’cause I got some spicy deets on Singapore fintech Sunrate.
This cross-border payments gang just hit a juicy $100 MILLION annual revenue run rate. Ya heard that right, they actually making big bucks over there!
Even while the economy’s kinda shaky lately, they still grew 80% this past year.
But it gets even better – Sunrate has been profitable for 3 years now.
That’s right, they raking in the dough while keeping costs in check with a 20% profit margin. Mic drop!
Sunrate: The Fintech Powerhouse Making Global Payments a Breeze
They started out in Shanghai in 2016, doing the usual payments and treasury biz. Then last year they set up headquarters in Singapore and expanded all over the place – Jakarta, Hong Kong, London… these folks don’t play!
Sunrate lets companies pay each other internationally. So with Asian countries generating like $200 billion in global payments, no wonder this fintech blew up fast!
They partnered up with Visa and Mastercard to make it easy for peeps to send and receive money across borders. Pretty legit global network they built.
The Sunrate impressive growth, scale and profitability
Our homegirl Sunrate even got extra funding this year from an investor impressed with their “growth, scale and profitability”.
Unicorns take note – you can build a beast of a startup AND make bank!
Sunrate’s aiming to push into Malaysia, Vietnam and the Philippines next.
Let’s see if they can keep this profitable growth train going choo choo!
