Fintech sets up Aleta Planet Foundation to support elderly and children
• Aleta Planet commits initial $200,000 to Foundation
• Foundation makes first donation to Mediacorp Enable Fund
Singapore, 15 October 2020 – Fast-growing Singapore fintech Aleta Planet announced today that it has established the Aleta Planet Foundation to support the needs of elderly and children in the local community, with an initial commitment of $200,000.
The Aleta Planet Foundation, which aims to create a positive impact on society at a time when the Covid-19 pandemic has adversely affected many livelihoods, will make donations to various charities.
The first of such donations is $100,000 to the Mediacorp Enable Fund, a community fund administered by SG Enable that aims to help build a society where persons with disabilities, including elderly and children, are recognised for their abilities and are able to lead full, socially integrated lives.
Aleta Planet Chairman and Group CEO Ryan Gwee said: “As the founder of a private company, it is my belief that corporate philanthropy is not incompatible with business objectives, and that a strategic and structured approach through a foundation can bring benefits beyond our individual efforts.
“As Aleta Planet has reached a level of growth, we feel that it is now fitting for us to give back to the community in which we operate, and the Aleta Planet Foundation was set up for this purpose. This is especially timely amid a pandemic and recession that have created considerable hardship for the most vulnerable groups living on the fringes of our society.”
Mr Gwee added that contributions to the Aleta Planet Foundation will increase over time, as part of a sustainable corporate giving culture.
Aleta Planet was set up in Singapore just six years ago, specialising in payment solutions to and from China. It has since expanded to Australia, Dubai, Hong Kong and Malaysia, to meet the growing demand from corporations and individuals for cross border payments with China through the UnionPay network.
Ku Geok Boon, CEO of SG Enable, said: “We are deeply grateful to Aleta Planet Foundation for their strong spirit of charity and choosing the Mediacorp Enable Fund to make their first donation. The generous contribution will provide much needed financial assistance in meeting the last mile needs of persons with disabilities, as well as to help them fulfil their aspirations in life.”
As a donor-advised fund, the Aleta Planet Foundation works with non-profit organisation Community Foundation of Singapore to identify existing needs of the elderly and children with disabilities, connect the Aleta Planet Foundation with suitable charity partners as well as manage the funds it receives.
Catherine Loh, CEO of the Community Foundation of Singapore, said: “It is our privilege to work with Ryan and his team. Aleta Planet may be a young fintech but we see it serving as a role model by giving back to the community.
“We look forward to closer collaboration with the Aleta Planet Foundation to identify gaps in the community so as to foster more effective giving and amplify the positive impact they have on our society.”
Aleta Planet Foundation’s support for the elderly will go particularly towards those abandoned by their families and those having to work despite their frailties. It will also focus on children with disabilities and those from low-income families whose parents have little means to help them reach their full potential.
About Aleta Planet
Founded in 2014 in Singapore by a team of professionals with strong business and technology expertise within the banking and finance industry, Aleta Planet is at the forefront of facilitating cross border payments to and from China. It specialises in end-to-end technology solutions to simplify online payments for financial institutions and corporates. Aleta Planet provides payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore. It focuses on a client-specific, solutions-oriented approach and have successfully delivered leading edge technology solutions.
Aleta Planet is also a direct acquirer and issuer of UnionPay, offering cross-border, multi-currency transactions safely and securely. Being a Certified Principal Member of UnionPay International, Aleta Planet enables merchants to accept over 7 billion UnionPay cards issued globally. Additionally, Aleta Planet will issue UnionPay commercial cards.
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