Singapore-based blockchain and financial services company, WadzPay Worldwide Pte. Ltd., has announced a significant capital commitment of SGD $50 million (approximately USD 36.7 million) from GEM Global Yield LLC SCS (GEM). The investment, structured as a Share Subscription Facility (SSF), will help drive WadzPay’s growth through acquisitions, strategic partnerships, and organic initiatives.
The agreement allows WadzPay to call upon GEM to subscribe for ordinary shares up to the value of SGD $50 million upon a successful public listing, with the option available over a 36-month period. This funding injection comes as the company aims to scale its innovative blockchain solutions within the financial services sector.
WadzPay’s Founder and CEO, Anish Jain, expressed enthusiasm about the partnership, emphasizing the substantial impact it will have on the company’s mission. “This commitment fuels our mission to disrupt the financial services landscape and equips us with the resources to scale rapidly,” said Jain.
GEM’s investment is seen as a strong endorsement of WadzPay’s potential to transform the industry. The deal marks a key milestone in the company’s growth trajectory, positioning WadzPay as a leader in the global blockchain and financial services space as it prepares for its public listing.
