Singapore-based fintech FlexM has announced that it has secured a strategic investment from China’s Torkey Times Technology. The financial terms of the deal were not disclosed.
The investment is expected to accelerate FlexM’s global expansion and strengthen its position in payments, cross-border remittance, and compliance technology.
Following the transaction, Torkey Times Technology and its founders, Yang Hanping and Xu Kaiqiang, are now among FlexM’s top three shareholders, alongside founder and chairman Rune Nilsson and co-founder and CEO Naveed Weldon.
The partnership aims to create synergies across cross-border payments, gateway solutions, and licensed fintech operations.
With annual revenues exceeding US$2.5 billion in 2024, Torkey Times brings extensive transaction volumes and advanced payment infrastructure that will help FlexM scale its services across key markets, including Singapore, India, the Middle East, Africa, North America, and Europe.
The investment follows FlexM’s recent acquisition of a Major Payment Institution (MPI) license from the Monetary Authority of Singapore.
FlexM operates several fintech platforms, including FlexBank, a cloud-based platform offering white-labeled banking solutions; FlexPay for domestic and international payments; FlexRemit for global remittances; and FlexComply for anti-money laundering, know-your-customer, and transaction monitoring functions.
Rune Nilsson, Founder and Chairman of FlexM, said,
“Our strategic partnership with Torkey Times Technology combines capital, expertise, and industrial strength to position FlexM as a powerful fintech leader on a global scale.
Hanping and Kaiqiang’s exceptional business acumen, extensive market insight, and impressive transaction volume align perfectly with our vision, accelerating our growth not just for the coming years, but decades ahead.”
Xu Kaiqiang, Founder of Torkey Times, said,
“Torkey’s extensive business volume and leading position in cross-border e-commerce make our cooperation with FlexM a pivotal move for both companies. The global e-commerce market presents enormous opportunities and diverse consumer demands.
Through this partnership, FlexM will significantly broaden its business reach while reinforcing its market leadership.”
Featured image: Edited by Fintech News Singapore, based on image by siegostuan via Freepik
