Japan’s SRA invests US$9mil in Singapore’s Tagit

• Amongst first companies to be accredited under Accreditation @IDA programme
• Looking to expand globally, boost staff strength in Malaysia and Indonesia

 
SINGAPORE-headquartered mobile solutions company Tagit Pte Ltd said it has secured “around S$12 million” (US$8.8 million) in investment from the SRA Group, an information technology (IT) company from Japan.
 
The funding would be used to support Tagit’s international expansion plans as the company sets its sights on growing its market footprint globally, it said in a statement. It already has subsidiaries in India, Malaysia, Indonesia and Canada.
 
Tagit was amongst the first companies to be accredited under the Accreditation@IDA programme for its digital platform Mobeix, which enables banks, the public sector and enterprises to build secure, scalable and innovative digital applications.
 
It has been recognised as a ‘Leader’ in the Q4 2015 Forrester Wave: Mobile Banking Solutions report.
 
The SRA Group focuses on enterprise systems, managed services as well as systems integration services to a wide range of verticals, both through partners as well as via developing its own proprietary intellectual property.
 
Tagit said that SRA has helped develop modernised systems for the banking, insurance, education and healthcare verticals, among others, while Tagit has brought fintech (financial tech) and digital solutions to financial institutions such as UOB, Axis Bank, Bank Danamon Indonesia, Royal Bank of Canada and Citibank India, as well as government agencies in the region.
 
“Tagit sees a significant opportunity in the high-growth digital banking and smart city sectors, where we have an extensive track record of successfully delivering pioneering digital solutions,” said Tagit chief executive officer Sandeep Bagaria.
 
“Our partnership with SRA will enable us to accelerate growth in these verticals, while expanding our reach to markets and verticals where SRA has a strong presence,” he added.
 
Tagit plans to utilise the new funds to enhance its solution capabilities for the financial vertical while also boosting staff strength in Malaysia and Indonesia, which are experiencing significant demand, it claimed.
 
The company will also prepare to set foot in Japan and North Asia.
 
“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,” said SRA Holdings president Toru Kashima.
 
“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,” he added.
 
SRA has invested the funds through its Singapore subsidiary SRA IP Solutions (Asia Pacific) Pte Ltd.
 
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