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FundEast will help small and medium-­sized enterprises (SMEs) facilitate their trade transactions at rates that are more than what current solutions are offering

Marvelstone Tech, a fintech platform under private investment group Marvelstone Group, has today announced the launching of FundEast, a fintech startup that does structured trade finance for Asia, this month.

The platform claims FundEast will help small and medium-­sized enterprises (SMEs) facilitate their trade transactions at rates that are more than what current solutions are offering, helping them to maximise their profits and improve their working capital.

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“Recently, SPRING Singapore launched a US$1.47 billion dollar loan programme for SMEs. This demonstrates how progressive the local government is when it comes to finance and business. We believe that Singapore will continue to be Asia’s leading trade hub, and we want to play a part in that,” said Terry Cho, chairman of Marvelstone Tech Korea, in a press statement, who sees a big opportunity in basing FundEast out of Singapore.

Founded in 2011, Marvelstone Group recently received an undisclosed amount of funding from Asia Media Exchange Pte Ltd.

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