SaaS Platform FiO Finds Success at Singapore FinTech Week 2019
Disruptive SaaS business FiO, a blockchain-onboarding platform for conventional businesses, was in full attendance at Singapore’s recent FinTech Week, where its senior team met with new potential partners and investors.
The company successfully met its agenda objectives that included fundraising, brand-building, networking with attendees and patent registration.
FiO CEO George Chu held scheduled meetings with high-profile investors such as True Global Ventures, during which his business development team demonstrated FiO’s unique SaaS platform that targets traditional enterprises looking to integrate blockchain.
Partly developed on IBM Hyperledger technology, the unique platform offers a simple, non-technical SaaS tool to help businesses decentralize their operations and create distributed ledger applications at their own speed without the need to understand blockchain technology.
FiO’s comprehensive revenue model includes affordable tiered and Pay-as-You-Go (PAYG) subscriptions to fit all enterprises. In addition, its customized data premium services target potential markets in accounts receivable (AR) financing, third-party payment procession, intellectual property management, and luxury goods provenance.
Mr. Chu also met up with the company’s legal advisors at Taylor Vinters Via at Gateway to advance FiO’s pending patents.
Elsewhere in Singapore, FiO Chief Technology Officer Kaede Tai met with AWS and permissioned blockchain platform Corda to discuss possible technical partnerships. The FiO team also met face-to-face with several projects not yet deployed on blockchain, explaining FiO’s core benefits to them, with across-the-board positive feedback.
FiO allows its users to connect to many different blockchains, both permissioned and public, through multi-cross chain technology without the need to select only one blockchain. In the future, developers can utilize the company’s platform to create their own blockchain products and share in their revenue.
Sitt Guruvanich, FiO’s Senior Technology & Architecture Director, networked extensively at the blockchain week’s flagship events such as The Capital, meeting with Magespire, Bank of Singapore, R3 Bootcamp and Korean investors.
After the week’s conclusion, CEO Mr. Chu stated:
“We are buoyed by the positive response from new potential investors and partners in Singapore. Based on feedback and current follow-up discussions, we will likely make a few big announcements in early 2020.”
Overall, this augurs well for the company’s ambitious roadmap next year. FiO earned a reported USD 2.7 million in revenue from 12 clients in 9 industries so far in 2019, with pipelines in place for 2020.