Draft:Versa
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Comment: Please find more reliable sources (not primary sources). Don't forget to declare your conflict of interest and take appropriate action. Deb (talk) 17:31, 14 April 2026 (UTC)
Versa (Versa Asia Sdn Bhd) is a Malaysian financial technology company. Headquartered in Petaling Jaya, the company provides a mobile application for cash management and investment services. It is a Recognized Market Operator (RMO) licensed by the Securities Commission Malaysia. [1]
History
[edit]Versa was founded in 2019 by Teoh Wei Xiang, Richmond Yau, and Nelson Wong.[2] The company obtained its RMO license from the Securities Commission Malaysia to distribute capital market products digitally.[1]
In January 2021, the company launched its first product, in partnership with Affin Hwang Asset Management (now AHAM Capital).[3] In September 2022, the company announced it had secured an eight-figure funding round. This round included participation from OSK Ventures International Berhad and the Hibiscus Fund, a venture capital fund managed by RHL Ventures and South Korea's KB Investment.[4]
In March 2025, Versa completed a Series A funding round totaling RM30 million. The round was led by AHAM Capital and included investments from individuals such as Tengku Fahad Mua'adzam Shah.[5] Following these rounds, the company announced a target of reaching one million registered users by 2027.[5]
In 2026, the company stated its objective to reach profitability by the fiscal year 2027.[6]
Regulation
[edit]Versa is a Recognized Market Operator (RMO) registered with the Securities Commission Malaysia under its digital e-service framework.[1] The company's investment products are managed by AHAM Asset Management Berhad, a licensed fund manager. All client assets are held in trust by independent registered trustees; HSBC Malaysia Trustees Berhad serves as the trustee for the platform's cash management funds, while CIMB Commerce Trustee Berhad serves as the trustee for its investment portfolios.[7]
Business model
[edit]Versa functions as a digital aggregator of third-party financial products. The platform provides access to money market funds and investment portfolios managed by partners such as AHAM Asset Management Berhad. The company generates revenue through annual management fees, which typically range from 0.30% to 1.80% based on the fund category.[6]
References
[edit]- ^ a b c "Digital Initiatives: List of Registered E-Service Platforms". sc.com.my. Securities Commission Malaysia. Retrieved 15 April 2026.
- ^ "Versa - Company Profile". Tracxn. Retrieved 15 April 2026.
- ^ Suhaidi, Nurul (29 January 2021). "Versa partners with Affin Hwang to offer an alternative platform for finance and savings management". BusinessToday. Retrieved 15 April 2026.
- ^ "Versa Asia Raises an Eight-Figure Funding Round". Fintech News Malaysia. 5 September 2022. Retrieved 15 April 2026.
- ^ a b "Wealth Platform Versa Raises RM30 Million in Series A Funding". Fintech News Malaysia. 19 March 2025. Retrieved 15 April 2026.
- ^ a b "Malaysian wealth startup Versa aims for profitability by 2027". Nikkei Asia. Retrieved 15 April 2026.
- ^ "Where is my money kept?". support.versa.com.my. Versa Asia. Retrieved 15 April 2026.
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