Singapore · Payments & e-money
Atlas Consolidated PTE. LTD.
Trading asHugo
Atlas Consolidated Pte. Ltd. is a private limited company based in Singapore. The Monetary Authority of Singapore (MAS) licenses it as a Major Payment Institution under the Payment Services Act 2019. It holds no licence through another firm. Venture investors back the firm, and its Series B round in August 2025 was led by Tin Men Capital. It owns the HugoHub brand, a banking-as-a-service platform for banks and fintechs, and the Hugosave consumer savings app with a Visa debit card. It also leads the consortium behind HugoBank, a digital bank in Pakistan.
Licences and registrations
Held by Atlas Consolidated PTE. LTD. (LEI 9845005BPECFKD4ED973). 3 entries on 2 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| MAS Financial Institutions Directory - Major Payment InstitutionMonetary Authority of Singapore (MAS) | Major Payment InstitutionPayment Institution | Not published by the register | Singapore | Active | — | — |
|
Search the register ↗ |
| MSB Registrant SearchFinCEN | —Money Transmitter / Remittance | Not published by the register | United States | Active | 2026-06-18 | — |
|
Search the register ↗ |
| MSB Registrant SearchFinCEN | —Money Transmitter / Remittance | Not published by the register | United States | Active | 2026-08-31 | — |
|
Search the register ↗ |
Trading names on the register: Hugo (MAS-MPI)
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
Swift network
Swift’s ISO 9362 BIC directory
Holds no BIC in Swift’s directory.
Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file.
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Venture-backed
Firm type
Banking as a service
Trades as HugoHub
- Ownership
- Venture and strategic investors own the firm, including Tin Men Capital, Getz, Inc., Woodside Holdings Investment Management and 1982 Ventures. Their stakes are not disclosed.
- Head office
- 143 Cecil Street, #07-01 GB Building, 069542 Singapore, Singapore
- Company register
- ACRA UEN 201942617W
- Incorporated
- 2019
- Founders
- David Fergusson · Ben Davies · Braham Djidjelli · Surya Tamada
Online
- Websites & references
- hugohub.com ↗
hugosave.com ↗ Hugosave consumer app site
developers.hugohub.com ↗ developer documentation
atlasconsolidated.com ↗ corporate site - Official social accounts
- LinkedIn ↗
Sources · 10 pages consulted
- eservices.mas.gov.sg/fid/institution/detail/251097-ATLAS-CONSOLIDATED-PTE-LTD
- hugohub.com
- hugohub.com/our-story
- eqs-news.com/news/corporate/atlas-consolidated-secures-usd-18-1-million-series-b-funding-led-by-tin-me
- en.prnasia.com/releases/apac/wealthcare-app-hugosave-acquires-visa-principal-member-issuing-licence-in-s
- prnewswire.com/news-releases/gtn-powers-hugosaves-new-fractionalised-investment-portfolios-democratising
- globalfintechseries.com/banking/digital-payments/hugosave-gets-mas-nod-to-operate-as-major-payment-institution/
- fintechfutures.com/venture-capital-funding/singapore-s-atlas-consolidated-raises-18-1m-series-b-for-europe-e
- 1982.vc/post/september-08-2025-read-online-atlas-consolidated-secures-usd-18-1-million-series-b-f
- hugosave.zendesk.com/hc/en-gb/articles/1500011323182-Is-Hugosave-regulated
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
MAS licenses the firm as a Major Payment Institution under the Payment Services Act 2019. The licence covers account issuance, domestic and cross-border money transfer and e-money issuance. The firm also says it is a Visa Principal Member issuing licensee.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Monetary Authority of Singapore Singapore | Major Payment Institution licence (account issuance, domestic money transfer, cross-border money transfer, e-money issuance) | PS20200550 | In its own name | Active | eservices.mas.gov.sg ↗ |
| Financial Crimes Enforcement Network (FinCEN) United States | Money services business registration (money transmitter, currency exchange) | — | In its own name | Active | — |
| Ministry of Law, Singapore Singapore | Regulated Precious Metals Dealer registration | PS20200001983 | In its own name | Status unconfirmed | prnewswire.com ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsIn April 2022 the firm said it segregates customer money in a trust account held with DBS, as the Payment Services Act requires.
- Safeguarding bank
- DBS Singapore
- Payment schemes and card networks
- Visa Direct en.prnasia.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
It licenses its HugoHub core-to-customer banking platform to banks and fintechs. Under its own brand, Hugosave, it offers Singapore consumers an e-money account, a Visa debit card and investment in precious metals and ETFs.
It serves consumers in Singapore under its MAS licence and sells its HugoHub platform to institutions abroad, including HugoBank in Pakistan.
- Sells to
- Financial institutions · Enterprises · Consumers
- Serves customers in
- Singapore
- Latest funding round
- Series B · USD 18.1m Aug 2025Led by Tin Men Capital
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- David Andrew Charles Fergusson Chief Executive Officer
- Founder
- Braham Djidjelli Chief Product Officer
- Founder
- Surya Tamada Chief Technical Officer
- Executive
- Karl Franks Chief Operating Officer
Recent events
Researched 29 Sep 2026 · Sources
-
Funding
The firm raised USD 18.1 million in a Series B round led by Tin Men Capital, with Getz, Inc. and Woodside Holdings following on.
eqs-news.com ↗ -
Other
The firm incorporated a subsidiary in London to serve as its regional headquarters for Europe.
fintechfutures.com ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
- BIC
- Holds no BIC in Swift’s directory
- How the LEI was matched
- Matched by Elucidate to GLEIF on name, country and address
- Elucidate firm ID
- dd9bff35ebe7
- Merged register entry
- 32dd5b1e267d · FINCEN-MSB
Profile
- Type
- Payments & e-money · Money service businessPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Main licence class
- Payment Institution
- Activities
- Money remittance
- Payment services
- E-money / stored value
- Licensed in
- Singapore · East Asia & Pacific
- First registered
- Not published
- Website
- www.hugohub.com ↗
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Address on the register
- 143 CECIL STREET #07-01 GB BUILDING 069542, Singapore, 069542
- Country
- Singapore
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.
- Identified by
- Name and postal address, with its LEI
- Postal address
- Hybrid: town, postcode and country in their own elements, the rest in two address lines
<FinInstnId>
<LEI>9845005BPECFKD4ED973</LEI>
<Nm>ATLAS CONSOLIDATED PTE. LTD.</Nm>
<PstlAdr>
<PstCd>069542</PstCd>
<TwnNm>Singapore</TwnNm>
<Ctry>SG</Ctry>
<AdrLine>143 CECIL STREET #07-01 GB BUILDING</AdrLine>
<AdrLine>069542</AdrLine>
</PstlAdr>
</FinInstnId>- The address line repeats the town or postcode. Remove the repeat if your payment system rejects it.
CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.
The values are as published by the register. Check them against your own records before use.
Sources & method
Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.
An institution missing from these registers is not necessarily unregulated.
Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Registers for this page
- MAS Financial Institutions Directory - Major Payment Institution—Monetary Authority of Singapore (MAS) · source ↗ as at 25 September 2026
- MSB Registrant Search—Financial Crimes Enforcement Network (FinCEN) · source ↗ as at 24 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
Assess the financial crime risk behind a licence
A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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