SMBC launches $200m fund to invest in Asian fintech startups

Japan bank, VC firm eye 'Banking as a Service' tech with Singapore-based fund

20230508 SMBC logo file photo

 SMFG in recent years has successively invested in financial institutions in Indonesia, Vietnam, the Philippines and India.

HARUKI KITAGAWA, Nikkei staff writer

TOKYO -- Sumitomo Mitsui Banking Corp. (SMBC) and Incubate Fund, a Tokyo-based venture capital company, have jointly set up a fund in Singapore to invest in promising fintech and other startups in Asia.

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