TransferWise sets up Asia-Pac hub in Singapore

TransferWise sets up Asia-Pac hub in Singapore

One of the most impressive new startups in the world (valued at $1 billion US) has decided that Singapore is going to be its “home of operations” in Southeast Asia and throughout the rest of the Pacific, just another in a long line of startups that have decided to make Singapore their home.

What makes this really impressive is the fact that the TransferWise company already had home base operation in Sydney, Australia and Tokyo, Japan, and they expect to have at least 30 new employees in Singapore-based offices by the time 2017 has concluded.

A money transfer service operating worldwide, TransferWise chose Singapore to be the first country that it launched its international money transfer services utilizing online verification technology. This is a company that appears to be very much in love with everything Singapore has to offer, a company that looks to dedicate itself to this country for years and years to come.

“The perfect place to set up shop”

The CEO and other top executives at TransferWise have been very open, very transparent, and very forthcoming about why they decided to choose Singapore to act as their base of operations in the Asian-Pacific region.

They feel that this is the perfect place to “set up shop”, mostly because it offers advanced technological infrastructure, a dedicated, hard-working, and well educated workforce, a friendly government, and some of the best business benefits of any country in Southeast Asia, as well as the rest of the world.

A new home for global startups

The startup culture is absolutely exploding throughout Singapore, and for good reason. The government and the business community is dedicated towards investing in startups very aggressively, with an eye towards creating the Southeast Asian version of Singapore.

Businesses are flocking to Singapore left and right, taking advantage of the immense amount of capital available for funding, the friendly and cooperative business climate, and the numerous business and taxation benefits available to Singapore-based companies and Singapore-based companies alone.

Singapore has always tried to create as business friendly an environment as possible. Understanding that the startup culture is the future of big business, especially on a global scale, it isn’t surprising to anyone paying attention that Singapore would dedicate itself as much as it has two making sure that businesses are able to build themselves up quickly, efficiently, and profitably with all of the help that this country has to offer.

It is going to be very, very interesting to see how the future of this economy ends up shaking out. But the odds are definitely stacked in the favor of company like TransferWise that are taking advantage of everything that this business climate has to offer, making the most of unique opportunities, leverage, and access to easy and immense capital that makes building businesses in the middle of the most competitive business environment and human history a whole lot easier than it will be almost anywhere else on the planet.

Keep an eye on Singapore – they aren’t slowing down!

About Author

Morris Edwards is a content writer at Singapore Company Incorporation Consultants Pte Ltd, he writes different topics like Why is Singapore an ideal place to set up business?, 5 startup friendly ways to improve business efficiency and all topics related to Asia, business registration and company secretarial services in Singapore

Categories: Business

About Author