Mr Richard Koh
Entrepreneur of the Year, 2018
Entrepreneurship is living a few years of your life that most people won't, so that you can spend the rest of your life that most people can't. Whilst bootstrapping in the initial months or years is quite the norm; going into hibernation mode when the cash ran out and rising above the ashes are a lot harder. That is the journey the team has at fintech startup M-DAQ.
Richard is an industry veteran who has over 30 years of industry experience in Infocomm, Treasury (Forex) and eCommerce covering the Asia Pacific markets. He founded his first technology startup at age 14 in the mid-1980s, and later switched paths from Computer Science to Accountancy and later to Foreign Exchange/Investment Banking.
In late 2009, M-DAQ was founded with a vision to help create a World without Currency Borders®. Today M-DAQ is a key partner with several of the world's largest eCommerce and Payments ecosystem, with over 90% of its activities generated outside of Singapore while being headquartered here. M-DAQ reached a Series C milestone of US$260m valuation at the back of a $118m investment in Nov 2015 and earned support from Singapore Economic Development Board, International Enterprise Singapore and the Monetary Authority of Singapore.
Richard was awarded a Price Waterhouse scholarship to read Bachelor of Accountancy (Honors) at Nanyang Technological University, Singapore and a JPMorgan Executive MBA scholarship to Helsinki School of Economics, Finland where he topped the class. He is a Fellow Chartered Accountant with the Institute of Singapore Chartered Accountants. He first joined SCS in 1986 and was, for a number of years, active in various Special Interest Groups.
Helping other technopreneurs succeed in areas of fund raising, corporate strategy and product/business development has been the other focus for Richard. He wishes that IT professionals and investors can work together and contribute to a vibrant technology startup ecosystem in Singapore.