Singapore fintechs expand footprint in Australia through Project Lorikeet

The initiative aims to boost fintech trade and investment between Singapore and Australia.

Singaporean financial technology (fintech) companies are expanding in Australia through Project Lorikeet, a joint initiative between the Singapore FinTech Association (SFA) and the Australian Trade and Investment Commission (Austrade).

The initiative aims to boost fintech trade and investment flows between Singapore and Australia.

Four fintechs pioneers have joined the initiative: Choco Up, Rhino Partners, Moneythor and USER. 

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Cohort members are estimated to invest at least A$26m in the next three years in Australia.

 SFA president Shadab Taiyabi said that they are dedicated to supporting Singapore fintechs’ bid to expand overseas.

“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” said Taiyabi.