Razer Fintech and Razer Merchant Services rebranded to form standalone subsidiary Fiuu
Gaming technology company Razer has announced that its fintech arm, Razer Fintech, along with its B2B payments unit Razer Merchant Services, will be rebranded as Fiuu and will now operate as an independent subsidiary serving businesses in Southeast Asia.
Razer Fintech and RMS rebrand to form independent unit Fiuu
The new Fiuu brand will offer B2B digital payment solutions for merchants including a payment processing gateway, as well as an offline payment network supporting reload services.
As part of the restructuring, Lee Li Meng, the fintech unit’s CEO since January 2020, has transitioned to the role of executive chairman as of 1 March. Eng Sheng Guan, the co-founder and CEO of RMS, will now take up the role of CEO of Fiuu.
Lee explains that the rebranding exercise “goes beyond just a name change”, in that it “allows the fintech business to continue its path independently from the Razer brand, which is gaming focused”, while attempting to better establish its position in the region’s “booming” digital economy.
Under Lee’s leadership, Razer claims that the brand has experienced “exceptional growth, with revenues doubling over the past four years, and is now operating at a profitable level”.
In 2021, it shut down its payments arm, Razer Pay, following a two-year foray into the e-wallet/payments sector.
The brands now consolidated under the Fiuu identity claimed a total payment volume of over $6.6 billion for the 2023 financial year. Through its new identity, Fiuu will continue to work towards achieving its projected revenue of $295 billion by 2025.
