4xLabs

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4xLabs is a financial technology firm that is headquartered in Singapore and was incorporated in 2011..[1]. It develops software for financial institutions such as money changers[2], remittance, banks and professional services.


4xLabs Pte Ltd
IndustryFinancial Technology
Founder(s)Chris Vanden Berghe
Website4xlabs.co


Products

4xLabs launched its first product, Get4x in 2012[3]. Get4x is a mobile app for comparing money changer rates in Singapore. The service has since expanded to Malaysia, Indonesia[4], Hong Kong[5], Thailand, India[6], UAE and Australia[7]. Get4x allows money changers to display their rates online so travellers can book these rates[8].

In 2017, 4xLabs launched Biz4x, a business management platform for money services businesses[9], that provides market and compliance data[10], a point-of-sale system, wholesale banknotes trading[11] and connects financial institutions to new customers through digital channels such as Get4x[12]. Biz4x was launched in consultation with the money changer community at a time when regulators were beginning to take a tougher staunch when it came to anti-money laundering and counter-terrorist financing[13]

In 2019, 4xLabs launched Send4x, a platform for comparing remittance rates. It has onboarded money transfer providers such as Azimo, InstaRem, OrbitRemit, SendFX, TransferWise, and WorldFirst[14]. The platform covers more than 9000 corridors from 45 sending countries[15].

Investors

4xLabs has raised funding from Dymon Asia Ventures[16], and OSK Ventures International[17]

Nominations

4xLabs was nominated as a finalist in the inaugural Singapore Fintech Awards 2016[18]. Tech in Asia listed it as one of the startups in Asia to watch for two years consecutively in 2016[19] and 2017 for its Get4x service[20]. In 2018, 4xLabs was selected as one of the startups to join the World Economic Forum on ASEAN: ASEAN 4.0: Entrepreneurship and the Fourth Industrial Revolution[21]. In 2019, 4xLabs was shortlisted as a top 10 finalist in the FIN/SUM Startup Pitch in Japan[22] as well as a top 40 finalist in the 2019 Fintech Awards [23][24][25].

References

  1. "Fintech start-up 4xLabs raises US$1.5m in new funding" (in en). 2017-05-16. https://www.straitstimes.com/business/companies-markets/fintech-start-up-4xlabs-raises-us15m-in-new-funding.
  2. "Looking beyond the hype at fintech in Southeast Asia" (in en-US). http://social.techcrunch.com/2016/08/02/looking-beyond-the-hype-at-fintech-in-southeast-asia/.
  3. Saturday, Grace Chng The Straits Times; Feb 16; 2013. "Get4X rates with new smartphone app". https://www.asiaone.com/News/AsiaOne+News/Business/Story/A1Story20130214-402019.html.
  4. Lossini, J. (2016-07-09). "Homegrown 4xLabs expands into Malaysia and Indonesia" (in en). https://www.businesstimes.com.sg/companies-markets/homegrown-4xlabs-expands-into-malaysia-and-indonesia.
  5. "O2O money changer app Get4x aims to ease Hongkongers' currency exchange woes" (in en). 2016-05-05. https://www.scmp.com/tech/start-ups/article/1941412/o2o-money-changer-app-get4x-aims-ease-hongkongers-currency-exchange.
  6. "Currency exchange rate aggregator get4x lands in 3 new cities; allows users to order currency" (in en). https://e27.co/currency-exchange-rate-aggregator-get4x-launches-in-bangkok-mumbai-and-thailand-20160419/.
  7. "Fintech start-up 4xLabs raises US$1.5m in new funding" (in en). 2017-05-16. https://www.straitstimes.com/business/companies-markets/fintech-start-up-4xlabs-raises-us15m-in-new-funding.
  8. "4xLabs, Moneybay in cross-border collaboration in physical FX market" (in en). 2017-06-29. https://www.digitalnewsasia.com/business/4xlabs-moneybay-cross-border-collaboration-physical-fx-market.
  9. "Tech in Asia - Connecting Asia's startup ecosystem" (in en-US). https://www.techinasia.com/4xlabs-moneybay-deal.
  10. Ashar, Jay (4 Oct 2019). "Top 10 anti money laundering software (AML) Software". https://www.financialdirector.co.uk/2019/10/04/top-10-anti-money-laundering-software-aml-software/.
  11. "Digitalization In The Money Services Industry" (in en-US). 2018-06-04. https://jumpstartmag.com/digitalization-in-the-money-services-industry/.
  12. Hartung, Richard (1 Sep 2018). "Save money when you use foreign currencies". TODAY. https://www.todayonline.com/singapore/save-money-when-you-use-foreign-currencies.
  13. Goh, Seng Ti (18 Sep 2017). "Chat with Fintechs: Chris Vanden Berghe, CEO, 4xLabs". TFAGeeks. http://tfageeks.com/2017/09/18/chat-with-fintechs-chris-vanden-berghe-ceo-4xlabs/.
  14. "Singapore-Based Fintech Launches Remittance Comparison Site" (in en-gb). 2019-06-10. https://www.finews.asia/finance/28942-fintech-launches-remittance-comparison-site.
  15. "4xLabs' New Platform Lets You Compare Prices of Overseas Money Transfer Services" (in en-US). 2019-06-10. http://fintechnews.sg/31252/remittance/send4x-4xlabs-remittance-compare-rates-instarem-transferwise/.
  16. "Dymon Asia announces first close of its debut $50M fund for fintech" (in en-US). http://social.techcrunch.com/2017/03/09/dymon-asia-ventures/.
  17. "Singapore fintech startup 4xLabs raises US$1.5 million in funding from Dymon Asia, OSK Ventures - Reuters". https://www.reuters.com/brandfeatures/venture-capital/article?id=6050.
  18. "Singapore Fintech Awards 2016 Announces 40 Finalists" (in en-US). 2016-10-31. http://fintechnews.sg/6334/fintech/singapore-fintech-awards-2016-announces-finalists/.
  19. "Tech in Asia - Connecting Asia's startup ecosystem" (in en-US). https://www.techinasia.com/asian-startup-list-8-may-2016.
  20. "Tech in Asia - Connecting Asia's startup ecosystem" (in en-US). https://www.techinasia.com/asian-startup-list-21-may-2017.
  21. "ASEAN 4.0: Entrepreneurship and the Fourth Industrial Revolution". World Economic Forum. http://www3.weforum.org/docs/WEF_ASEAN18_Report.pdf.
  22. "Competing Startups". https://finsum.jp/2019/competing-companies/.
  23. "40 Innovative Solutions Shortlisted for 2019 FinTech Awards". 2 Oct 2019. https://www.mas.gov.sg/news/media-releases/2019/40-innovative-solutions-shortlisted-for-2019-fintech-awards.
  24. "Meet The 40 Innovative Solutions Shortlisted for 2019 FinTech Awards". Fintechnews Singapore. 3 Oct 2019. https://fintechnews.sg/34071/fintech/meet-the-40-innovative-solutions-shortlisted-for-2019-fintech-awards/.
  25. "40 Innovative Solutions Shortlisted for 2019 FinTech Awards". Singapore Fintech Festival. 2 Oct 2019. https://www.fintechfestival.sg/media-releases/12-40-innovative-solutions-shortlisted-for-2019-fintech-awards.

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