Singapore, National Pulse, a strategic management company from the United Arab Emirates, has announced an investment in Singapore-based payment solutions provider Aleta Planet. Financial details of the investment were not disclosed.
Aleta Planet revealed that this investment will facilitate its expansion into the UAE, the Middle East, and Africa, enabling it to offer cross-border payment services to businesses in the region. Founded in 2014, Aleta Planet specializes in global payments, including transactions via China’s popular platforms such as UnionPay. The company currently processes approximately $2 billion in cross-border payments annually, according to its founder and group chairman, Ryan Gwee.
“With National Pulse and its portfolio companies using our system, we can easily reach the $6 billion mark,” Gwee told Reuters, projecting that Aleta Planet will achieve this target within the next 12 months.
Additionally, Aleta Planet plans to establish a joint venture with National Pulse to focus on business-to-business cross-border transactions. This venture will initially target the agri-trade and logistics sectors in the Middle East, further solidifying Aleta Planet’s presence in the region.
The partnership marks a significant step for Aleta Planet as it continues to expand its footprint and enhance its service offerings in the fast-growing Middle Eastern market.
