Razer Fintech and Razer Merchant Services rebranded to form standalone subsidiary Fiuu

Razer Fintech and Razer Merchant Services Rebranded as Fiuu:

1. Rebranding Announcement:
   • Gaming technology company Razer has revealed that its fintech arm, Razer Fintech, and B2B payments unit Razer Merchant Services will be rebranded as Fiuu.
2. Formation of Independent Subsidiary:
   • Fiuu will operate as an independent subsidiary, catering to businesses in Southeast Asia, and will focus on providing B2B digital payment solutions for merchants, including a payment processing gateway and an offline payment network for reload services.
3. Leadership Changes:
   • Lee Li Meng, CEO of Razer Fintech since January 2020, has transitioned to the role of executive chairman as of 1 March.
   • Eng Sheng Guan, co-founder and CEO of Razer Merchant Services (RMS), will now serve as the CEO of Fiuu.
4. Rationale for Rebranding:
   • The rebranding is intended to position the fintech business independently from the gaming-focused Razer brand and enhance its presence in Southeast Asia’s growing digital economy.
5. Financial Performance:
   • Under Lee’s leadership, Razer Fintech claims to have achieved exceptional growth, with revenues doubling over the past four years, operating at a profitable level.
6. Payment Volume and Revenue Projection:
   • The brands consolidated under the Fiuu identity reported a total payment volume exceeding $6.6 billion for the 2023 financial year.
   • Fiuu aims to achieve a projected revenue of $295 billion by 2025.
7. Past Endeavors:
   • In 2021, Razer shut down its payments arm, Razer Pay, following a two-year foray into the e-wallet/payments sector.