TASConnect Market Research Report

Overview

TASConnect is a leading working capital solutions platform headquartered in Singapore. As a wholly owned subsidiary of SC Ventures Holdings Limited, the innovation and fintech investment arm of Standard Chartered, TASConnect plays a pivotal role in transforming trade ecosystems. Originally launched as Project Litmus in collaboration with Lenovo, the initiative stemmed from a need for a unified trade system with enhanced visibility and control. The platform has since evolved into a comprehensive solution tailored for corporations navigating complex ecosystems.

Solutions and Offerings

TASConnect offers a comprehensive bank-agnostic, software-as-a-service (SaaS) platform that enhances supply chain efficiency through digital innovation. Designed to cover the entire value chain, its solutions provide end-to-end automation, visibility, and control across trade and supply chain ecosystems, serving a diverse clientele that includes CFOs, sales teams, procurement departments, SMEs, banks, and non-banking financial institutions (NBFIs).

Strategic Partnerships and Collaborations

• TASConnect partners with significant players like VPBank, #dltledgers, and NEC APAC to enhance its blockchain-enabled trade solutions and provide real-time analytics tools.

• A notable collaboration with Funding Societies facilitates the offering of invoice financing valued at RM1 million to SMEs.

Recent Developments and Achievements

• Acquired SOLV Malaysia and Solv Vietnam to strengthen its supply chain financing capabilities.

• Named among the Top 20 Hottest Startups of 2023.

• Actively addressing Vietnam's underserved US$35 billion supply chain finance market, thereby expanding its influence in Asia.

• Continues to explore new collaborations and expand its technological footprint for enhanced enterprise client support.

Leadership

• Kingshuk Ghoshal, Co-founder & Group CEO: An INSEAD Alumni Leader recognized for his visionary leadership and extensive experience, including his prior role at Standard Chartered Bank.

• Sujay SK, Co-founder & Group Deputy CEO: Brings a wealth of international banking experience to the table.

• Wendy Ang, CEO of TASConnect Malaysia: Responsible for overseeing Malaysian operations, especially post the acquisition of SOLV Malaysia.

Market Position and Competitors

TASConnect operates in a competitive landscape where it faces significant competition from:

• LSQ: Offers working capital finance and payment solutions with a focus on payment acceleration and risk management.

• OatFi: Specializes in API-powered B2B payment solutions, marking it as a key player in working capital infrastructure.

• Other competitors include Fundflo, RouteFabric, and the AlHuda Centre of Islamic Banking & Economics.

Global Presence

With operations in Singapore, Malaysia, Hong Kong, India, and China, TASConnect is well-equipped to support international corporations, facilitating their trade value chains amid the challenges and opportunities presented by global trade dynamics.

Key Differentiators

TASConnect differentiates itself through its unified platform tailored for working capital optimization. By leveraging cutting-edge technology, the company integrates finance solutions seamlessly into enterprise ecosystems, underpinned by strategic alliances and a strong presence in Singapore. As a result, TASConnect is positioned for sustainable growth and remains an innovator in the working capital management sector.