Fatfish raises $8m in fresh funds to ramp up its BNPL

Fintech Fatfish has completed a new funding effort, raising US$8m to ramp up its buy-now-pay-later platform and operations. 

Fatfish Group has indicated that the new funding will allow it to expand its BNPL services and all its other fintech operations, especially to gain a stronger footing within its primary markets across Southeast Asia.

The new capital will allow Fatfish Group to leverage the vast population and swiftly growing rate of fintech adoption in Southeast Asia.

This fresh capital injection was obtained from Arena Investors, a long-term partner, and backer of Fatfish. The deal also involves convertible notes which convert at a fixed rate of 7c per share, marking an 18% premium on Wednesday’s closing rate.

This recent funding is part of a broader deal between both firms. The referred convertible notes have a 12-month maturity and a coupon rate of 1% per year attached to them. 

“We have partnered with Arena Investors for three years now. They have been an incredibly supportive investor, working with the management of the company to grow our business,” CEO of FFG, Kin Lau indicated.