Opal
Opal is a Singapore-licensed neobank offering a Global Digital Business Account with multi-currency support (34 currencies, 100+ corridors), cross-border money transfer, BNPL, and white-label banking APIs for SMEs and platforms engaged in international commerce.
- Company typePrivate
- Founded2019
- HeadquartersSingapore, Singapore
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Opal does
Opal (legal entity: Opal Fintech Pte Ltd) is a Singapore-incorporated neobank founded in 2019 that provides cross-border financial infrastructure to SMEs engaged in international commerce. The company operates under a Major Payment Institution licence (PS20200221) issued by the Monetary Authority of Singapore, which authorizes it to provide cross-border money transfer services and exempted activities in account issuance, e-money issuance, and domestic money transfers under the Payment Services Act 2019. Headquartered at 25 Ubi Road 4 in Singapore with a headcount of 11–50, Opal serves two primary segments: Singapore SMEs executing cross-border trade, and platforms/marketplaces seeking to embed banking functionality via white-label APIs.
The company's core product is the Global Digital Business Account (GDBA), a multi-currency business account supporting 34 currencies and 100+ financial corridors, including local-currency accounts in GBP, USD, EUR, CNY, and AUD. Built on proprietary payment orchestration technology with published APIs, the platform aggregates payment channels, lenders, banks, and fintech firms within a single dashboard. Opal's product portfolio extends through the Embed a Bank white-label solution (B2B2X distribution), Buy Now Pay Later (up to $100,000 credit lines via Funding Societies), and a financing suite covering micro loans (S$3,000–S$100,000), business term loans (S$50,000–S$2M), revolving credit facilities, invoice financing, and revenue-based financing—all powered by Funding Societies under a referral arrangement.
Opal monetizes through transaction fees on payment flows, FX commissions on cross-currency transactions, an annual service fee, a one-time account opening fee, and referral fees from financing partners. Distribution combines direct self-serve onboarding via opalpayment.com, a sales-led motion for Embed a Bank enterprise deals, and partner-driven acquisition through Funding Societies, SpringBods, SMU Institute of Innovation & Entrepreneurship, Bluecell, and Choco Up. Customer funds are safeguarded in segregated trust accounts at a Tier-1 Singapore bank, a key trust mechanism for regulated marketing. No revenue, funding, or enterprise customer logos are publicly disclosed.
Opal firmographics
Firmographics- Name
- Opal
- Legal name
- Opal Fintech Pte Ltd
- Website
- https://opalpayment.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Opal is a Singapore-licensed neobank offering a Global Digital Business Account with multi-currency support (34 currencies, 100+ corridors), cross-border money transfer, BNPL, and white-label banking APIs for SMEs and platforms engaged in international commerce.
- Ownership category
- akta.pro rank
Opal industry classification
Industry- Product category
- Cross-Border Payments and Multi-Currency Neobanking
- NAICS
- Sales Financing (52222), Commercial Banking (522110)
- SIC
- Miscellaneous Business Credit Institution (6159), Finance Services (6199)
- akta.pro primary industry
- International Money Transfer Operators (MTOs) (FSAMAIAE)
- akta.pro secondary industries
- Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)
Keywords
Where Opal is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
Opal business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Transaction Fees: Fees charged for every transaction requested through the payment account
- Foreign Exchange Fees and Commission: FX fees and commission charged for every transaction made in a different currency from the deposited funds. Exchange rates based on prevailing spot rates or third-party determined rates
- Annual Service Fee: Non-refundable annual service fee for maintenance of Payment Account and usage of Services
- Payment Account Opening Fee: One-time fee for opening of Payment Account
- Referral Fees from Financing Partners: Opal receives fees from Funding Societies for referrals of loan and financing products to customers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Global Digital Business Account - Free tier |
| Transaction based/ take rate | Pay-as-you-go | Transaction and Service Fees |
| Usage-based | Pay-as-you-go | Buy Now Pay Later - Credit Lines |
| Usage-based | Pay-as-you-go | Micro Loan |
| Usage-based | Pay-as-you-go | Business Term Loan |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Opal product offering
Product offeringCore offering
Opal provides a Global Digital Business Account (GDBA) that combines cross-border money transfer to 100+ countries, a multi-currency corporate account holding up to 34 currencies, and SME financing products such as Buy Now Pay Later, micro loans, business term loans, revolving credit, invoice financing, and revenue-based financing. The platform also exposes APIs through an "Embed a Bank" solution that enables third-party platforms, marketplaces, fintechs, and SaaS providers to white-label Opal's banking infrastructure. The company is regulated by the Monetary Authority of Singapore under Major Payment Institution licence PS20200221.
Product overview
Opal is a Singapore-based neobank offering a unified digital business account platform. The core product is the Global Digital Business Account (GDBA), which serves as a comprehensive digital financial hub. This core platform integrates Cross Border Money Transfer services (sending payments to 100+ countries), Multi-Currency Account capabilities (holding 34 currencies across 100+ corridors), and Buy Now Pay Later financing. The platform extends through the Embed a Bank module, which enables third-party platforms to white-label and integrate Opal's banking infrastructure via API. Financing solutions including Micro Loans, Business Term Loans, Revolving Credit Facilities, Invoice Financing, and Revenue Based Financing are offered as add-on modules through partnerships with Funding Societies and other lenders.
Differentiator
Problem solved
Functional benefit
Products and services
- Global Digital Business Account (GDBA) Complete digital business account enabling SMEs to manage funds, finance operations, and transact globally through a fully integrated platform with consolidated visibility and control over company finances.
- Cross Border Money Transfer International money transfer service enabling businesses to send payments overseas securely with competitive exchange rates and low fixed fees to 100+ countries and financial corridors.
- Multi-Currency Account Corporate multi-currency payment account allowing businesses to send and receive funds in up to 34 currencies, transact across 100+ corridors, and hold local currency balances for GBP, USD, EUR, CNY, AUD and more.
- Buy Now Pay Later (BNPL) Short-term financing enabling businesses to pay vendors and suppliers worldwide with pre-approved credit lines up to $100,000 and a 30-day repayment tenor, delivered through Opal's partnership with Funding Societies.
- Embed a Bank White-label banking integration solution that allows platforms, marketplaces, SaaS providers, fintechs, and financing platforms to embed banking solutions and make financial products available to their customer base through Opal's published APIs.
- Micro Loan Flexible short-term loan for SMEs with approval within 24 hours, loan amounts ranging from S$3,000 to S$100,000, designed for urgent financing needs.
- Business Term Loan Unsecured business financing with customizable repayment options, loan amounts between $50,000 and $2 million SGD, tenor up to 12 months, and interest rates from 0.8% per month.
- Revolving Credit Facility Flexible credit facility enabling businesses to withdraw, use, repay, and re-borrow funds as needed, with loan amounts up to $1 million SGD and tenor up to 120 days.
- Invoice Financing Financing arrangement allowing companies to obtain cash upfront by converting invoices, with credit lines up to $1 million SGD, financing up to 80% of invoice value, and tenor up to 120 days.
- Revenue Based Financing Financing with flexible repayment based on a fixed percentage of future monthly revenue, disbursement in 2 days, loan amounts up to SGD $3 million, and tenor up to 12 months.
Quantifiable outcome
- Up to 40% cost savings compared to conventional banking methods for international money transfers
- +2 more outcomes
Companies that use Opal
Customer profileSegments3 records
Ideal customer profiles3 records
Opal technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Opal partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Funding SocietiescorePartnership with Funding Societies (FS Capital Pte Ltd and Funding Societies Pte Ltd) for providing loan and credit line services including invoice financing, business term loans, revolving credit facilities, micro loans, and BNPL. Funding Societies is regulated by MAS with CMS100572 license. Opal receives referral fees for customer referrals.
- SpringBodsminorCorporate secretary and incorporation services partner providing discounted rates on corporate secretarial services and additional offerings. SpringBods has 50 years of market experience.
- Singapore Management University (SMU) Institute of Innovation & EntrepreneurshipminorAcademic partnership offering exclusive deals and offerings for students and alumni of SMU Institute of Innovation & Entrepreneurship.
- BluecellminorListed as a partner on Opal's Partners page with logo displayed, though specific partnership details not provided.
- Choco UpminorListed as a partner on Opal's Partners page with logo displayed, though specific partnership details not provided.
- Monetary Authority of Singapore (MAS)coreRegulator that issued Opal Fintech Pte Ltd Major Payment Institution licence No. PS20200221 for cross border money transfer services. Opal is currently exempted from holding license for domestic money transfer, account issuance, and e-money issuance services under Payment Services Act 2019.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
Opal competitors and assessment
Company assessmentDirect peers
- Thunes: Thunes is a cross-border payments network enabling B2B transfers and mobile wallet payouts across 130+ countries. It is comparable as a regulated cross-border money transfer operator competing with Opal in SEA corridors.
- Verto: Verto is a cross-border payments platform for businesses offering multi-currency accounts and FX. It is a direct functional peer for Opal's cross-border money transfer and multi-currency account offerings.
- Wise (formerly TransferWise): Wise operates a leading multi-currency account and low-cost cross-border money transfer platform. It competes head-on with Opal's cross-border transfer and multi-currency account proposition, particularly for SMEs and freelancers.
- Airwallex: Airwallex is a global cross-border payments and multi-currency business account platform serving SMEs and platforms. It directly competes with Opal's Global Digital Business Account, multi-currency account, and embedded finance offerings across SEA.
- Nium: Nium provides real-time cross-border payments and banking-as-a-service infrastructure. Its money transfer operators and embedded finance offerings overlap directly with Opal's cross-border MTO and Embed a Bank solutions.
- Aspire: Aspire is a Singapore-headquartered SME neobank offering multi-currency business accounts, corporate cards, and cross-border payments. It is one of Opal's closest direct competitors in the Singapore SME segment.
- dLocal: dLocal provides emerging market cross-border payment processing for global merchants and platforms. Its payments infrastructure and emerging-market reach parallel Opal's ambitions for SME cross-border commerce.
- Statrys: Statrys provides multi-currency business accounts and cross-border payments to SMEs in Hong Kong and Southeast Asia. Its product scope and target customer closely mirror Opal's GDBA.
Broad incumbents
- Banking Circle: Banking Circle is a regulated payments bank providing cross-border payment and FX infrastructure to fintechs and banks. It is comparable to Opal's embed/API infrastructure play but operates at a broader incumbent scale.
- Currencycloud (Visa): Currencycloud, owned by Visa, provides FX and cross-border payment infrastructure APIs. Its embedded finance and multi-currency rails serve as a comparable broader incumbent to Opal's Embed a Bank proposition.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Opal social profiles
Digital presenceOpal financial estimates
Financial estimateRevenue estimate
Valuation estimate
Opal leadership team
Management profileNumber of profiles
Opal funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Opal M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Opal
What does Opal do?
Opal provides a Global Digital Business Account (GDBA) that combines cross-border money transfer to 100+ countries, a multi-currency corporate account holding up to 34 currencies, and SME financing products such as Buy Now Pay Later, micro loans, business term loans, revolving credit, invoice financing, and revenue-based financing. The platform also exposes APIs through an "Embed a Bank" solution that enables third-party platforms, marketplaces, fintechs, and SaaS providers to white-label Opal's banking infrastructure. The company is regulated by the Monetary Authority of Singapore under Major Payment Institution licence PS20200221.
Is Opal a public or private company?
Opal is a private company. It is classified as unknown and is currently operating.
When was Opal founded?
Opal was founded in 2019. It employs 11 to 50 people.
Where is Opal based?
Opal is headquartered in Singapore, Singapore, in the Asia region.
How does Opal make money?
Five revenue lines are on record. Transaction Fees are the primary driver. The others are foreign Exchange Fees and Commission, annual Service Fee, payment Account Opening Fee and referral Fees from Financing Partners.
Who are Opal's main competitors?
Direct peers on record are Thunes, Verto, Wise (formerly TransferWise), Airwallex, Nium, Aspire, dLocal and Statrys. Broad incumbents are Banking Circle and Currencycloud (Visa).
Does Opal have an API?
Yes. Opal offers ready published APIs for integrating banking solutions into third-party platforms. The Embed a Bank product enables platforms, marketplaces, SaaS providers, fintechs, and financing/lending platforms to connect to Opal's banking infrastructure, allowing them to offer white labelled wallets, global payment channels, and financial solutions to their users. The API allows connecting banks to platforms and enabling users to unlock key financial solutions.
What industry is Opal in?
Opal's product category is Cross-Border Payments and Multi-Currency Neobanking. Its primary akta.pro industry code is FSAMAIAE, International Money Transfer Operators (MTOs), with a secondary code of FSAGALAE, Embedded Deposit Accounts & Digital Wallet Infrastructure. Its NAICS code is 52222 and its SIC code is 6159.