FlexM, a fintech group focused on payment solutions and compliance, has received an investment from China’s Torkey Times Technology (TTT).
With the strategic investment, TTT now joins FlexM’s major shareholders, including its founder Rune Nilsson and CEO Naveed Weldon.
The collaboration is expected to enhance FlexM’s operations in cross-border payments, gateway solutions, and licensed fintech operations worldwide.
TTT, a player in China’s e-commerce sector with over $2.5bn in revenues, provides FlexM access to significant transaction volumes and payment systems.
FlexM founder and chairman Rune Nilsson said: “Our strategic partnership with Torkey Times Technology combines capital, expertise, and industrial strength to position FlexM as a powerful fintech leader on a global scale.
“Hanping and Kaiqiang’s exceptional business acumen, extensive market insight, and impressive transaction volume align perfectly with our vision, accelerating our growth not just for the coming years, but decades ahead.”
The partnership leverages Torkey’s international reach with FlexM’s regulatory expertise.
It aims to improve transaction capabilities in regions such as Singapore, India, the Middle East, Africa, North America, and Europe.
The development follows FlexM’s acquisition of a Major Payment Institution license from Singapore’s Monetary Authority, which was pivotal in TTT’s investment decision.
The license positions FlexM to expand locally and globally, enhancing its role as a reliable partner for financial entities.
Torkey Times founder Xu Kaiqiang said: “Torkey’s extensive business volume and leading position in cross-border e-commerce make our cooperation with FlexM a pivotal move for both companies.
“The global e-commerce market presents enormous opportunities and diverse consumer demands. Through this partnership, FlexM will significantly broaden its business reach while reinforcing its market leadership.”
FlexM operates several fintech platforms, including FlexBank, a cloud-based neo-bank offering white-labelled solutions for financial institutions
It also offers FlexPay for domestic and international payments, FlexRemit for global remittance solutions, and FlexComply for regulatory compliance.
Torkey Times Technology founder Yang Hanping said: “FlexM represents exactly the type of innovative fintech company we seek, capable of transforming global financial and technology landscapes.
“Together, we will deliver groundbreaking solutions that banks, financial institutions, and e-commerce companies around the world will significantly benefit from.”
