Fintech startup PEXX bags $4.5m in new funding round

It will use the funding for expansion and platform development.

Singapore-based fintech startup PEXX raised $4.5m in a seed funding round led by TNB Aura, with participation from VC Antler and strategic investment from EMO Capital.

PEXX will use the funding to develop its stablecoin-to-fiat payment platform, bolster engineering and product teams, and expand marketing and business development efforts in Southeast Asia.

PEXX's payment platform allows users holding Tether (USDT) and Circle (USDC) stablecoins to transfer assets directly to a bank account globally, enabling individuals and businesses to transfer value across borders without intermediaries.

In addition to funding, EMO Capital will support the startup's Web3 marketing, branding, and strategic partnerships and play a pivotal role in its business expansion, scaling, and user acquisition.