Sea Limited plans to list fintech arm Monee

It will also launch an artificial intelligence-focused enterprise platform.

Singapore-headquartered technology firm Sea Limited plans to take its financial services arm, Monee, public, according to an internal memo from founder Forrest Li reviewed by Reuters.

Monee offers mobile wallets, payments processing, credit and banking services across Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Taiwan and Brazil.

The group will also launch an artificial intelligence-focused enterprise platform called Sea Cloud.

Li told employees that a listing would give Monee the “resources and the room to go further and faster.”

The memo was sent on the ninth anniversary of Sea’s New York listing. Li said the group’s quarterly revenue has grown to $9.97b (US$7.8b).

S$1=US$0.78

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