Lending
Siam Commercial Bank Pours in US$100 Million Into Indonesia’s Akulaku
Akulaku, an Indonesian Buy Now Pay Later (BNPL) player, announced that it has received US$100 million from the Siam Commercial Bank (SCB). This follows Akulaku’s successful fundraise of US$125 million in 2021 that was co-led by Silverhorn Group who was
Read More
Funding Societies Raises US$294 Million in Series C+ Led by SoftBank
Funding Societies, a Southeast Asian SME digital financing platform which goes by Modalku in Indonesia, today announced that it has raised US$144 million in an oversubscribed Series C+ equity round. The round was led by SoftBank Vision Fund 2 with
Read More
Singtel to Offer Zip’s BNPL Service Through Its Dash App
Singtel is set to launch Australian Buy Now, Pay Later (BNPL) player Zip’s service on its Dash app in Singapore. This new service provides an alternate payment option for Dash customers, giving them the flexibility to choose between paying for
Read More
BNPL Transactions Rose by Nearly 30 Percent During the 2021 Peak Holiday Period
There has been a 28 percent increase in buy now, pay later (BNPL) transactions from October to December 2021 compared to the same period in 2020, according to global provider of real time digital payment software ACI Worldwide. The data
Read More
Singapore Fintech Report 2022: Fintech Reaches Critical Mass in Singapore
In Singapore, the COVID-19 pandemic has acted as a catalyst for fintech adoption, driving demand for digital payment capabilities, virtual banking experiences and buy now, pay later (BNPL) arrangements. Consumers and businesses are signing up en masse to digital banking
Read More
CIMB Bank Vietnam and F88 Form Partnership to Boost Financial Inclusion
Lending platform F88 Business has entered into a new strategic partnership with CIMB Bank Vietnam to promote financial inclusion to the unserved and underserved sector of the economy. According to the latest figures from the General Statistics Office (GSO), Vietnam
Read More
Tradeplus24 Undertakes US$100 Million Debt Facility to Fuel Growth
Tradeplus24 Australia, a small and mid-size enterprise (SME) lending fintech, has restructured US$25 million of its existing debt facilities to underpin the execution of a material debt transaction of over US$100 million and reduce its cost of funding by 4
Read More
New Report Assesses Digital Lender Impact on Southeast Asian MSMEs
In Southeast Asia, micro, small and medium-sized enterprises (MSMEs) are the backbone of the economy, making up for 97%-99% of the region’s total enterprises and contributing between 52% and 97% of total employment. Yet, despite their centrality to national economies,
Read More
UOB Indonesia Launches E-Commerce BNPL Service “TMRW Pay”
UOB’s mobile-only banking solution TMRW announced the launch of TMRW Pay, an e-commerce loan that enables consumers in Indonesia to manage their budgeting needs. TMRW Pay offers consumers deferred payment services, with zero interest for up to 90 days and instant
Read More
Lending Fintech GajiGesa Closes US$ 6.6 Million Pre-series A Fundraise
GajiGesa, an Indonesian employee management and wellness platform offering Earned Wage Access (EWA) and other financial services, has closed an oversubscribed US$ 6.6 million (IDR 94.5 billion) in pre-Series A funding. The round was led by MassMutual Ventures, with participation
Read More