Singapore Startup Targets Supply, Pay Solutions

Announcements, FinTech | March 21, 2017 By:

Singapore-based FinTech startup INVICTUS has partnered with IBM to develop an e-procurement platform aiming to help companies streamline their ordering, logistics and payments.

INVICTUS will also be working with the IBM Bluemix Garage in Singapore to design a distributed ledger (DLT) platform prototype on the open source Hyperledger Fabric. That project will look to manage transactions between small and medium enterprises, suppliers, banks and other liquidity providers.

No target date was announced for either product launch. IBM Bluemix is a cloud platform for blockchain developers and others. More than 100,000 apps are released on it each month, the company claims.

“We focus on taking the chronic pain out of the last mile of a transaction by expanding access to financing from third party liquidity providers, in addition to banks,” said INVICTUS chairman Lim Soon Hock. “Through our blockchain smart contract technologies and working collaboratively with IBM, we hope to disrupt this last mile by enabling secure and cashless financing as early as the PO stage,” said INVICTUS chairman Lim Soon Hock.