Tagit, the Singapore-based creator of a platform that helps banks provide digital services, received $9m from IT services provider SRA Group on Tuesday.
Founded in 2004, Tagit helps financial services firms put together digital offerings, and organisations that have used the platform incldue UOB, Axis Bank, Bank Danamon Indonesia, Royal Bank of Canada and Citibank India.
The funding, supplied by SRA’s local subsidiary, SRA IP Solutions Asia Pacific, will be used by Tagit to expand internationally, growing its Malaysia and Indonesia teams and leveraging SRA’s resources to secure clients in the firm’s home country of Japan.
Toru Kashima, president of SRA, said: “The strategic alliance between SRA and Tagit will enable both companies to widen their business reach in Asia, targeting both Japanese and non-Japanese companies.
“SRA will leverage on Tagit’s deep experience and broad capabilities in designing and developing digital products and services that offer new ways to bring value to the customer experience.
“We will work with Tagit to build new digital solutions based on its domain knowledge in the financial sector and other verticals, as well as achieve the company’s midterm targets of globalisation and development of new IP solutions.”