Case studies
A Singapore Technology Company Entering the United States
- Sector
- Technology
- Services
- Market researchBusiness strategyLocal partnerships
- Markets
- SingaporeUnited States
The situation
A technology company headquartered in Singapore was considering the United States as its next market and wanted to know what it would take before committing a budget.
What Citalo Group did
- Market research: market size by segment, the competitors already selling in the United States, and the relevant regulatory considerations, with specialist advice where required
- Business strategy: the entry plan, with the first customer segment, the sequence of hires and the budget for the first year
- Local partnerships: identification and introduction of US partners for distribution and professional services
The outcome
The work gave the board a firmer basis for deciding whether and how to enter the US market, including an indicative budget and an initial partnership plan. Following the decision to proceed, the company continued to receive advisory support during the initial launch period.
A Family Office Reviewing a Digital Payments Investment
- Sector
- Fintech and payments
- Services
- Investment advisoryFinancial analysis
- Markets
- United StatesSingaporeSoutheast Asia
The situation
A family office in the United States was offered a stake in a Singapore-licensed payments company that was expanding into a second market in the region. The round closed in a few weeks, and the family office wanted an independent view of the sector and the regulator before it committed.
What Citalo Group did
- Commercial due diligence: the company's customers and its position against competitors in both markets, and the status of its license in Singapore against the requirements of the second market
- Financial analysis: review of the model and the unit economics by market, with the assumptions tested against what comparable companies in the region have achieved
- Written report before the closing date, with the terms of the round reviewed alongside counsel and the points worth negotiating set out
The outcome
The work identified the commercial and regulatory questions for the investor to address before deciding whether and on what terms to proceed. Ongoing monitoring support was agreed following the investment.
A US Software Company Setting Up in Singapore
- Sector
- Software
- Services
- Market entryFinance support
- Markets
- United StatesSingapore
The situation
A software company in the northeastern United States had signed its first customers in Southeast Asia from home and needed an entity and a team in Singapore to serve them. The finance function was two people in Boston, and the entity would be their first outside the United States.
What Citalo Group did
- Market entry: entity structure and the sequence of the first hires, with pricing and contracts adapted for the region
- Finance support: banking and payroll implementation support for the new entity, and the selection of its accountants and tax advisers
- Monthly reporting to the US board through the first year, until the Singapore team could take it over
The outcome
The company established the agreed Singapore operating structure and introduced reporting processes for its US board during the first year of regional operations. Citalo Group continued to provide advisory support for the region.