Fastacash

About Fastacash

Fastacash was a Singapore-based financial technology company established in April 2012 by Shankar Narayanan and Michael Wee. The firm positioned itself as a technology enabler, developing a global platform for social payments.

The company's core offering was a technology that allowed users to transfer value, such as money and airtime, combined with digital content like photos and videos, through social networks and messaging platforms. This was facilitated by a patent-pending, secure link generation technology. Fastacash's business model was B2B, partnering with banks, payment service providers, mobile operators, and remittance companies to integrate its technology. This allowed their partners' end-users to conduct both person-to-person and person-to-merchant transactions.

Fastacash successfully raised a total of $23.5 million over four funding rounds. Its first seed round was in 2012, followed by a Series A in October 2013, and culminating in a significant Series B round of $15 million in July 2015. This final round was led by Rising Dragon Singapore and included investors like Jungle Ventures and Golden Equator Capital. The capital was intended to fuel expansion into Southeast Asia, the Middle East, India, Europe, and the United States. However, the company ceased operations, and by early 2019, its website was defunct. The last reported activity was a potential acquisition talk with Myanmar's MyPay in 2017, though no official announcement was ever made.