19 September 2024

Philippines Conglomerate invests in Mulai

Manila, Philippines – Philippines Conglomerate, Traxion Tech Inc. invested undisclosed initial investment in Mulai for the Anti Money Laundering and Fraud Prevention Platform for the Philippines market.

Traxion Tech Inc. is a BSP (Bangko Sentral ng Pilipinas) licensed financial service company that focuses on developing payments and cash management in rural areas. Their main products include full end-to-end payment solutions, Cashteller Machines (CTM), DigiCoop, and Core Banking Solutions called DXBank™.

Mulai.com (Mulai Pte. Ltd.) is a Singapore-based Centralized, no-code, AI-powered Anti Money Laundering and Fraud Prevention Platform for fintech and digital banks.

“We have been working with Tommy (COO of Mulai) since his last venture in his previous company. We are very fortunate to work with many bright talents from all around the world to develop Philippines’s Financial Service Sector” said Ann Cuisia, CEO of Traxion Tech Inc.

“Traxion Tech is a well-known fintech conglomerate in the Philippines, we are very lucky to be included in their investment radar and receive investment from them for the Philippines Market. We are currently working on a joint project to be announced soon,” said Fellyani, CEO of Mulai Pte. Ltd.

The market in Philippines including 69 EMI-licensed (Electronic Money Issuers), 286 OPS-licensed (Operator of Payment System and more than 400 rural banks. With joint collaboration with Traxion Tech Inc., Mulai.com will have much bigger presence in the Philippines to support their clients and prospective clients.

Traxion Tech Inc: https://www.traxiontech.net/

Mulai Pte. Ltd.: https://mulai.com/