- Anext Bank, a digital wholesale bank based in Singapore, has reportedly received an additional SDG 200 million ($148.5 million) investment from its parent company, Ant Group.
- The investment was disclosed in filings made with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore and was first reported by DealStreetAsia.
- This investment follows a previous commitment of $188 million made by Ant Group in March 2023, bringing the total investment from Ant Group to over $500 million.
- Anext Bank, launched in June 2022 after obtaining regulatory approval from the Monetary Authority of Singapore (MAS), specializes in providing business and dual-currency deposit accounts to local and regional micro, small, and medium-sized enterprises (MSMEs), with a focus on supporting cross-border operations.
- The bank is part of Ant Group’s broader initiative to drive fintech innovation in Singapore and across Asia and has launched initiatives such as an embedded finance platform and the Anext Programme for Industry Specialists to expand its services within third-party offerings.
- As of the time of reporting, Anext Bank has not responded to inquiries regarding its plans for the latest capital raise.
