DCS Card Centre Fuels Expansion With S$300 Million Asset-Backed Notesby Fintech News Singapore December 13, 2023
Singaporean fintech DCS Card Centre (DCS) announced that it has raised S$300 million through an upsized issuance of asset-backed notes as part of the company’s strategy to bolster its growth.
The newly issued notes, secured by credit card receivables, marks DCS’s ongoing efforts to expand and innovate within the consumer credit and payment solutions market in Singapore.
The issuance received support from DBS Bank and several seasoned investors, including First Plus Asset Management, a Singapore-based investment manager with a focus on APAC structured credit and equities.
DCS, recently rebranded from Diners Club Singapore, has been actively diversifying its product offerings to cater to a broader range of customer needs and emerging market trends.
This includes the expansion of its credit card issuance, partnering with major players like Mastercard, UnionPay, and an upcoming collaboration with Visa.
Furthermore, DCS had introduced DCS Tokens, a payment token designed to bridge traditional and Web 3.0 payment ecosystems.
Eileen Liu, Managing Director, Finance at DCS said,
“With our latest round of notes issuance, DCS cements its role as an industry leader in shaping the future of payment strategy through our innovative solutions.
Our commitment to investors remains unparalleled, and we are excited to continue building strong trusting relationships with a diverse range of financiers.”
Jennifer Siu, Head of Private & Structured Credit at First Plus said,
“We are delighted to support DCS and be a part of the firm’s mission to reshape the region’s payment landscape. We continue to see opportunities in the consumer market with the burgeoning middle class of the ASEAN region.
Leveraging our strong regional presence, First Plus is committed to identifying investment opportunities to provide risk-justified value propositions to our investors.”
Featured image credit: Edited from Freepik