Buy now, pay later solution Pace Enterprise has reportedly secured a seven figure seed funding round.
The capital injection was co-led by Vertex Ventures and Alpha JWC, according to a report from Deal Street Asia.
With this capital burst, the FinTech hopes to expand its platform and build new solutions to its clients.
Its services are available in Singapore, Malaysia, Thailand and Hong Kong. Users can buy products at a range of online stores and pay for the products over the course of three interest-free instalments.
There have been a number of buy now, pay later companies to raise funds this year. Capchase, which offers a SaaS and recurring revenue financing platform, recently bagged $60m in an asset-backed credit facility, while Uplift, which offers POS lending, scored a $68m credit line from Atalaya Capital Management.
Buy now, pay later giant Affirm began trading on the Nasdaq last week, with its shares jumping by more than 100% in the first day. Its stock value jumped from $49 per share to $100 per share. The San Francisco-based company offered 24.6 million shares of its Class A common stock.
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