FlexM Wins a Major Payment License in Singapore

Norwegian entrepreneur Rune Nilsson founded fintech company FlexM in Singapore in 2015, building it from a Stored Value Facility serving underbanked customers into a full Fintech-as-a-Service platform used by more than 400 clients across Asia, Europe, and North America. The company builds back-end infrastructure that banks and other financial institutions use to verify customer and business identities, screen for financial crime risk, and monitor transactions for compliance, alongside handling payment processing and cross-border money transfers directly. In March 2025, FlexM secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, making it the first Norwegian-led company to do so and unlocking the ability to offer regulated cross-border money transfer services.

Nilsson has run the company from Singapore for a decade now, with FlexM going on to operate across Canada, the US, the Philippines, India, and Norway itself. The milestone was significant enough that the Royal Norwegian Embassy in Singapore featured FlexM as part of its 2025 campaign marking Norway's 120th and Singapore's 60th anniversaries. Five months later, FlexM's compliance platform FlexComply was named Highly Commended for RegTech of the Year at the Asia FinTech Awards 2025, adding a second recognition to a year that already included the MPI license.