4 SG-based fintech companies to expand in Australia via Project Lorikeet

The companies are expected to invest $22.7m in Australia in the next 3 years.

Four Singapore fintech companies have expanded in Australia through the help of Project Lorikeet, the joint initiative between the Singapore FinTech Association (SFA) and the Australian Trade and Investment Commission (Austrade), which aims to boost fintech trade and investment flows between the two countries.

The startups are Choco Up, Rhino Partners, Moneythor, and USER.

According to SFA, the companies are expected to invest A$26m or approximately $22.7m in the next three years in Australia.

“SFA is dedicated to supporting Singapore FinTechs in their expansion and internalisation efforts through our extensive global network. We are pleased that this collaboration with Austrade has played such a pivotal role in accelerating our four Singaporean FinTechs’ entry into the Australian market, marking a significant milestone in supporting local fintechs to expand into each other’s market under the Australia-Singapore FinTech Bridge Agreement,” Shadab Taiyabi, President of the Singapore FinTech Association said.