Global lifestyle brand for gamers, Razer has pledged up to $50 million to support both current and future business partners throughout the economic downturn that was brought by the Covid-19 crisis.
The company will be deploying up to $50 million within the year through its three main support arms – Razer Gold, Razer Fintech and zVentures.
The fund will be split across the three pillars in the form of financial contributions, cashflow support and investments. Additionally, the initiative by Razer aims to provide businesses with access to Razer’s unique ecosystem of hardware, software and services with over 80 million total registered users worldwide.
“There are many growing implications with Covid-19 on the global economy and it is affecting everyone from all walks of life,” says Razer co-founder and CEO, Min-Liang Tan.
“We see the best way for us to do our part is to support our business partners starting with our ecosystem,” he added.
Razer Gold, one of the three arms will be providing support to current and new content partners through marketing contributions and other immediate cashflow relief measures such as cash pre-payment, cash rebates and reduced settlement periods from 30 to 15 days.
As for Razor Fintech, the offline-to-online digital payment network will help new and existing merchants and platform partners via cashflow assistance, fee waivers and customised marketing programmes for essential services and online businesses through its B2B vertical, Razer Merchant Services (RMS).
Furthermore, it’s objectives being closely aligned with the Covid-19 Fintech initiatives announced in Singapore, will see both Razer Fintech and the Singapore FinTech Association collaborate to address key issues that include saving fintech jobs, lowering business costs, facilitating sales and stimulating funding and identifying fintech companies that would benefit from the programme.
As for zVentures, the corporate ventures arm will focus its investment efforts on companies with technologies dedicated to fighting Covid-19 and supporting companies in sectors such as the autonomous food and beverage, delivery and logistics as well as healthcare.