Loading organizations...
Fastacash has raised $26.0M across 4 funding rounds.
Key people at Fastacash.
Fastacash has raised $26.0M in total across 4 funding rounds.
Fastacash is a Singapore-based financial technology company that develops a social and mobile payment platform enabling instant money transfers across various digital messaging applications. Operating on a business-to-business-to-consumer model, the firm partners with global financial institutions to embed its peer-to-peer payment technology directly into their existing mobile applications. The platform facilitates secure transactions through widely used networks such as Facebook Messenger and WhatsApp, and has deployed co-branded solutions like Ping Pay in collaboration with Axis Bank. The enterprise has scaled its operations across Asia to support over one million registered users and maintains a core workforce of 40 employees. Fastacash has secured $23.5 million in total venture funding, which includes a $15 million Series B financing round led by Rising Dragon Singapore. The organization was founded in 2012 by Shankar Narayanan and Michael Wee.
Fastacash is a Singapore-based fintech company founded in 2012 that built a global social payments platform enabling users to transfer value—such as money, airtime, or other tokens—along with digital content like photos, videos, audio, and messages via social networks and messaging apps like Facebook.[1][3][4][5] It serves individuals and businesses for secure, cost-effective domestic and international P2P transactions, partnering with payments, remittance, consumer products, social, and gaming industries as a technology enabler.[1][2] The platform solves the problem of friction in remittances and payments by integrating them seamlessly into everyday social interactions, though it is now listed as a "Dead" company after raising $23.68M in funding, with no recent activity post-2017.[1]
Fastacash emerged in 2012 from Singapore, headquartered at 8 Kallang Avenue #09-03/04 Aperia, as a pioneer in social payments technology.[1] Details on specific founders or their backgrounds are not available in public records, but the company quickly positioned itself as an innovator in fintech, focusing on P2P transfers through social media and messaging platforms to capitalize on the rise of mobile and social communication.[3][4][5] Early traction included partnerships across industries and inclusion in expert fintech collections, with a notable mention in 2017 around innovation in legacy financial systems, marking a pivotal but final public moment before its inactive status.[1]
Fastacash rode the early 2010s wave of social media-driven fintech, aligning with the explosion of messaging apps (e.g., Facebook Messenger) and mobile remittances in emerging markets, where traditional banking lagged.[1][3] Its timing capitalized on rising global remittance needs—projected to hit trillions annually—and the shift toward embedded finance, influencing how later platforms like WhatsApp Pay integrated payments socially.[1] Though now defunct, it highlighted market forces favoring seamless, social P2P solutions amid regulatory easing for digital payments in Asia, paving the way for competitors like Nium in Singapore's fintech hub.[1]
As a "Dead" stage company with no activity since 2017, Fastacash's legacy lies in proving social payments' viability, but its influence has faded without revival or acquisition signals.[1] Emerging trends like real-time payments, crypto remittances, and AI-enhanced social commerce could inspire reboots, yet entrenched competitors dominate. Its story underscores fintech's high failure rate, evolving from innovative enabler to cautionary tale—echoing how early pioneers like Fastacash shaped today's frictionless global money movement.
Key people at Fastacash.
Fastacash has raised $26.0M across 4 funding rounds. Most recently, it raised $15.0M Series B in July 2015.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 14, 2015 | $15M Series B | Rising Dragon Singapore | Life.sreda, UVM 2 Venture Investments | Announced |
| Jun 12, 2014 | $4M Venture Round | Jagdish Chanrai | — | Announced |
| Jun 1, 2014 | $4M Series U | Jagdish Chanrai | Jungle Ventures | Announced |
| Oct 1, 2013 | $3M Series A | — | Jungle Ventures, Funding The Future, Seeds Capital | Announced |
Fastacash has raised $26.0M in total across 4 funding rounds.
Fastacash's investors include Rising Dragon Singapore, Life.SREDA, UVM 2 Venture Investments, Jagdish Chanrai, Jungle Ventures, Funding the Future, SEEDS Capital.
