The Singapore-headquartered financial technology solutions provider, Pace has issued a statement announcing the close of a US$40 million Series A funding round.
The capital raised during this round came from some of the foremost Asian investors, including UOB Venture Management (Singapore), Marubeni Ventures (Japan), Atinum Partners (South Korea), AppWorks and a series of family offices from Japan and Indonesia.
The Buy Now Pay Later (BNPL) solutions provider discussed its recent growth in Singapore. According to the firm, the latest capital injection will be used by the firm to expand its technology, operations and business development.
Pace currently ranks as one of the fastest-growing BNPL startups in Singapore. The financial technology platform is home to over 3,000 point-of-sales across the region. The firm has expanded its operations notable within the last few months.
Turochas ‘T’ Fuad, Founder and CEO of Pace, said: “This investment from some of the most successful and established investors signals confidence that Pace is a leading BNPL player in Asia. The region is expected to become the world’s fastest-growing BNPL market, and this funding supports Pace in achieving its mission of democratizing financial services for all, by helping us pave our expansion into Japan, Korea, and China Taiwan.”
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