BEHNEH, a Singapore-based provider of cross-border payment services, filed on Friday with the SEC to raise up to $20 million in an initial public offering.
The company plans to raise $20 million by offering 5 million shares at a price range of $3 to $5. At the midpoint of the proposed range, BEHNEH would command a market value of $100 million.
BEHNEH provides cross-border payment services in Singapore as a licensed major payment institution under the Monetary Authority of Singapore. Its core services are collection on behalf, payment on behalf, and brokerage, and it earns revenue from transaction-based fees and foreign exchange spreads. Customers include regulated gaming operators, small and medium-sized enterprises, family offices, fund managers, other licensed financial institutions, and accredited investors. The company has more recently expanded into fixed-fee advisory services, helping clients establish and operate regulated financial services businesses in new jurisdictions.
The Singapore-based company was founded in 2017 and booked $2 million in revenue for the 12 months ended April 30, 2026. It plans to list on the Nasdaq under the symbol BENE. BEHNEH filed confidentially on June 1, 2026. Sutter Securities and Boustead Securities are the joint bookrunners on the deal.
