Singapore Exchange (SGX) has made an important investment in Singapore based local fintech firm Smartkarma. Singapore Exchange backing Smartkarma through investment was revealed by the exchange on Tuesday, 9th July 2019. Through this investment, Singapore Exchange will access investment research network of Smartkarma and also update it.
Smartkarma- the fintech firm runs a research network that links independent investment experts, institutional investors and some listed firms over a single platform so as to exchange information and to communicate, the statement mentioned.
The platform of Smartkarma also offers more research data and analysis source, the Singapore exchange mentioned.
Smartkarma’s current investors, namely Sequoia Capital India, and Wavemaker Partners, also took part in the investment, the statement stated.
Smartkarma is planning to launch its corporate solutions, a wide range of C-suite services and investor relations personnel of registered companies throughout the world in the coming days and hence the new development initiated.
The research network consists of individual insight contributors, and they share an honest research review on over 3,700 registered companies with more than 24,000 research parts shared on the Smartkarma platform till date.
SGX’s research and retail head, Chan Kum Kong mentioned, “With the advent of technology, we see tremendous potential in this innovative platform that is adding another dimension to fundamental investment research. As SGX continues to uphold the standard and availability of research coverage through initiatives such as partnering with the Monetary Authority of Singapore (MAS) on GEMS, we are also investing in new models to serve investors and companies now and in the future.”
Singapore Exchange was the test partner at the time of service development and will be the foremost exchange to place the worldwide platform across all its registered and new companies, including global bond issuers. The service extension of the Smartkarma platform was designed only after progressive pilot program run by Singapore Exchange
The strategic investment made by SGX in Smartkarma has not been revealed. However, Smartkarma CEO on Tuesday mentioned the investment of ‘seven-figure.’
The Singapore Exchange plans to promote growth across numerous asset classes that it includes because the exchange experiences tough competition from the financial capital of Asia, Hong Kong, and others.
Co-founder and CEO of Smartkarma, Raghav Kapoor underlined the impacts of shifts within the investment research sector on markets.
Kapoor addressed in a statement that, “From the very beginning, we have been working hard to address the fundamental gaps we see around us. SGX shares our conviction that technological innovation is key to navigating this new landscape.”