BEHNEH Ltd

What the company does

BEHNEH is a Singapore-based financial technology company that operates through a wholly-owned Singapore subsidiary licensed by the Monetary Authority of Singapore as a major payment institution. The company provides regulated cross-border payment services, including collection on behalf, payment on behalf, brokerage, international fund transfers, related payment processing, and foreign exchange conversion. It has also expanded into advisory, operational, and technology support for clients establishing and operating regulated financial services businesses.

Use of proceeds

The company plans to use approximately 35% of the net proceeds to expand into new geographical markets and jurisdictions, approximately 30% to develop its AI-enabled risk and compliance intelligence platform, and approximately 20% for liquidity and settlement infrastructure. Approximately 15% will be used for general corporate purposes, including working capital and expansion of its technology, compliance, and operations teams.

Underwriters

Extracted from F-1 0001213900-26-116798, filed Nov 6, 2026 and verified against that filing text.

Key risk factors

• Customer concentration

  “Our business is currently subject to significant customer concentration risk, as approximately 96.70%, 69.40% and 60.06% of our total processed volume for the six months ended April 30, 2026 and the fiscal years ended October 31, 2025 and 2024 were derived from two primary customers, respectively.”

• Customers may terminate relationships

  “Our customers, including these primary counterparties, have no long-term obligation to continue using our services.”

• AML and CFT control deficiencies

  “Following a 2023 regulatory inspection, MAS identified deficiencies in certain aspects of our AML/CFT controls between 2020 and 2023, including customer due diligence and wire transfer compliance requirements.”

• Nasdaq listing is not assured

  “However, there is no assurance that such application will be approved, and if our application is not approved by Nasdaq, this Offering cannot be completed.”

• Broad management discretion over proceeds

  “Our management has broad discretion to determine how to use the funds raised in the offering and may use them in ways that may not enhance our results of operations or the price of our Ordinary Shares.”

• Disclosure controls may fail

  “Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.”

• Limited research coverage

  “Securities analysts may not publish favorable research or reports about our business or may publish no information at all, which could cause our Ordinary Share price or trading volume to decline.”

• Reduced shareholder protections

  “You may have more difficulties protecting your interests than you would as a shareholder of a U.S. corporation.”