RootAnt
RootAnt is almost the only Fintech from China, who focus on improving financial experience and serving international financial institutions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $4.5m | Series A | |
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 460 % | - |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Established in 2019 by founder and CEO Lincoln Yin, RootAnt is a Singapore-based financial technology company operating as a Banking-as-a-Service (BaaS) provider. The firm aims to act as a 'smart router' connecting small and medium-sized enterprises (SMEs), larger corporations, and financial institutions to facilitate easier, faster, and more affordable working capital solutions. RootAnt has secured total funding of $5.96 million over two rounds, including a $1.46 million seed round in October 2020 and a $4.5 million Series A round in August 2022, backed by investors like Linear Capital, Sumitomo Mitsui Banking Corporation, and SBI Ven Capital.
The company's core business revolves around its BANCO platform, a transaction neobank platform that enables banks and other financial institutions to embed digital financial products into their services. This platform addresses transaction banking needs such as trade finance, supply chain management, and payments. A key feature is the multi-tier financing solution that utilizes a Digital Payment Obligation (DPO) on the R3 Corda blockchain. This allows the creditworthiness of a large buyer to extend down through its entire supply chain, enabling even small, deep-tier suppliers to access financing at potentially lower rates based on the anchor buyer's credit risk.
In 2021, RootAnt expanded its offerings by integrating BANCR, a central lending platform, into the BANCO ecosystem. This enhancement allows SMEs to submit financing requests to multiple lenders simultaneously, streamlining the loan application process and improving access to capital. The company's strategy focuses on creating a unified platform for all stakeholders to optimize cash flow and enhance business efficiency. RootAnt is also developing solutions for Green Finance and Islamic Finance, and has established a partnership with the Bank of China to serve as a trade financing platform.
Keywords: Banking-as-a-Service, supply chain finance, fintech, transaction banking, neobank, SME financing, digital payment obligation, trade finance, embedded finance, open banking