Singaporean cross-border payment provider BEHNEH (BENE.US) plans to raise US$20 million for an IPO in the US

The Zhitong Finance App learned that BEHNEH, a Singaporean cross-border payment service provider, submitted documents to the US Securities and Exchange Commission (SEC) on Friday and plans to raise up to 20 million US dollars through an IPO.

The company plans to issue 5 million shares at an issue price range of $3 to $5 per share to raise $20 million. Based on the median value in this range, BEHNEH's market capitalization will reach $100 million.

BEHNEH is a major payment institution licensed by the Monetary Authority of Singapore (MAS) to conduct cross-border payment services in Singapore. Its core services include collection, payment, and brokerage. Revenue mainly comes from transaction fees and foreign exchange price spreads collected on a case-by-case basis. Customers include regulated gaming operators, small and medium businesses, family offices, fund managers, other licensed financial institutions, and qualified investors. Recently, the company has also expanded fixed-fee consulting services to help clients set up and operate regulated financial services businesses in other jurisdictions.

The Singaporean company was founded in 2017 and recorded $2 million in revenue over the 12 months ending April 30, 2026. The company plans to list on NASDAQ under the code “BENE.” BEHNEH secretly submitted a listing application on June 1, 2026. Sutter Securities and Boustead Securities acted as joint bookkeepers for this offering.