Exclusive Service Agreements with Five Largest Property Agencies in Singapore
With aims to simplify and expedite freelance payment management by financing cash advances to freelancers, LytePay started with entering into exclusive service agreements with the five largest property agencies in Singapore which account for 95% of the agency market (SGD1.3 billion in commissions).
There is a Growing but Under-served Market for Cash Advance Services for Freelancers, Solopreneurs and Small Business Owners
Singapore presents a vast opportunity from the way we see it. The total addressable market in Singapore alone is more than SGD4.5bn and we are ready to capitalise.
Lyte is One of the Fintechs Licensed by MAS to Provide Domestic and Cross Border Money Transfer Services
Since 2018, we have advanced commissions to 6,000 agents and freelancers worth some SGD60m (as at July 2021). Default rate still stands at 0%.
Higher Yields than Fixed Deposit & Money Market Funds
We target a 6-8% return which is higher than other instruments with similar risk profiles in our opinion.
*Fixed deposit rates are based on SGD20,000 for a 12 month tenor.
**Lyte returns are targeted returns.
***Average returns are based on an annual basis.
Backed by Singapore's Prominent Investors
We are growing both regionally and globally.
Base Currency: SGD
Fund Domicile: Singapore
Targeted Return: 7% per annum
Lockup Period: 1 Year
Redemption Fee: Year 2 (4%), Year 3 (2%), none thereafter
Periodicity of NAV: Half Yearly Calculation
Management Company: Azure Capital Pte Ltd
Legal Counsel: Shook Lin & Bok LLP
Tax Advisor: EY Corporate Advisors Pte Ltd
Fund Administrator: Ascent Fund Services Pte. Ltd.
Auditor: Baker Tilly TFW LLP