Turochas Fuad’s BNPL Company Pace to Shutter Operationsby Fintech News Singapore November 8, 2023
Singapore’s Buy Now Pay Later (BNPL) company Pace had filed for a voluntary winding up in August citing liabilities as its reason, according to a report by The Business Times. The company’s website shows no indication of its plans to shutter.
Pace had launched amid much fanfare as it was founded by Turochas “T” Fuad, who was the Managing Director at WeWork. He had also previously founded Spacemob and HomeAway Asia, previously known as travelmob.
Pace was backed by Temasek’s subsidiary Vertex Ventures Southeast Asia, Alpha JWC, Genesis Alternative Ventures, Singapore’s UOB Venture Management, Japan’s Marubeni Ventures, South Korea’s Atinum Partners, Taiwan’s AppWorks, and a series of family offices from Japan and Indonesia.