Singapore bunker trader Sing Fuels backs fintech venture with USD 10 mil investment

Global fintech venture 129Knots recently announced its launch with a USD 10 million investment led by Singapore’s homegrown bunker trader Sing Fuels. 

The company reported that it is backed by a USD 500 million deal pipeline. 

Its real-world asset origination to distribution (OTD) technology will deliver and deploy scalable liquidity solutions through secure chain technologies. This will elevate supply chains into high-value assets that meet investment-grade standards. 

Moreover, the platform is driven by a proprietary data driven credit engine named Tribal Knots. Tribal Knots uses advanced machine learning and integrates both structured and unstructured data from global networks to offer real-time insights into buyer behavior, transaction patterns, and industry benchmarks.

129Knots was incubated and launched under the Singapore Economic Development Board (EDB) Corporate Venture Launchpad programme, which supports companies with venture creation and startup partnerships from Singapore. 

The corporation partnered with McKinsey & Company to validate its market opportunity, which led to the creation of 129Knots to drive innovation in the real-world asset economy. 

The additional support from Enterprise Singapore and IBM consulting, combined with the USD 10 million capital injection, will help scale 129Knots globally as it aims to solve the USD 2.5 trillion gap between trade finance requests and approvals, which is its first market entry value proposition.

129Knots will also offer a vast range of OTD solutions across trade credit, asset tokenization, programmable money, stablecoin-powered transactions, blockchain technology, advanced trade audit trails, innovative credit risk assessment models, and trade governance. 

These technologies will increase transparency and enhance risk mitigation beginning in the marine energy transition sector, with plans to expand into other high growth industries.

Vikash Dhanuka, Founder & Group CEO of 129Knots, said: “The homogeneous approach of balance-sheet led lending is obsolete. A one-size-fits-all approach simply fails in a dynamic sector such as global trade. At 129Knots, we redefine the game with a tailored integration of OTD technology, business risk management, and finance.”

“As an example, a small marine energy supplier in an emerging market can tokenize receivables using programmable money, enabling instant credit disbursement upon achieving predefined milestones verified in real-time through advanced governance audit trails.”

“This innovation provides financiers with full visibility into trade assets, mitigates risks and unlocks capital previously unavailable through conventional channels.”

Photo credit: Kyle Sudu on Unsplash
Published: 13 February, 2025