Fazz (website) Southeast Asia finttech, has secured $100 million in Series C funding with $75 million from Tiger Global, DST Investment, B Capital, Insignia Ventures Partners and ACE & Company. In addition, the fintech company has received a $25 million credit facility from Lendable.
The Series C funding round consists of $75 million in equity provided by existing investors, including Tiger Global, DST Investment, B Capital, Insignia Ventures Partners and ACE & Company. In addition, the fintech company has received a $25 million credit facility from Lendable.
Fazz, offering business accounts for companies of all sizes to pay quickly, save and borrow, will use the fresh funds to accelerate its vision to “catalyze Southeast Asia’s digital transformation.” The fintech company posted record transaction volumes of $10 billion last year and aims to double that figure in the next 12 months. The company also plans to hire 600 employees in Singapore, Indonesia, Malaysia, Vietnam and Taiwan.