Southeast Asia’s Fintech Fazz Finalizes $100 Million Series C Round Led by Tiger Global
By Omar Faridi
Southeast Asia’s Fintech platform Fazz, a business account for companies of all sizes to pay, save and obtain credit, recently secured $100 million via Series C funding.
The $75 million in equity reportedly includes investments from existing investors: Tiger Global, DST Investment, B Capital, Insignia Ventures Partners and ACE & Company. Ilham Ltd, EDBI, InterVest, Michael Seibel (Y Combinator) and Hans Tung (GGV Capital).
The Fintech firm has also signed a term sheet with Lendable for a $25 million debt facility.
Fazz, formerly doing business as the Fazz Financial Group, is reportedly a merger between Indonesia-founded PayFazz and Singapore’s Xfers.
Its core offerings are an application for small retailers, referred to as Fazz Agen, and an application for startups and larger businesses called Fazz Business. It also offers a MSME peer-to-peer financing service and payments infrastructure for digital assets.
Photo courtesy of lau rey.