Singapore fintech firm nets pre-series A investment from Goldbell, Octava

Singapore fintech firm Rely received a seven-figure investment in a pre-series A round led by Goldbell Financial Services. Singapore-based family office Octava Foundation also participated in the round. The specific amount of the investment was not disclosed.

Rely plans to use the fresh capital to bring its business out of Singapore and scale its team for Southeast Asia expansion.

The company provides Singaporean shoppers with a “way to manage their online shopping spending” by offering an interest-free installment service. Its “buy now, pay later” plan allows shoppers to break the payment for their purchases into three equal monthly repayments. It uses AI and machine learning to determine the repayment capacity for each transaction.

Rely’s existing partners include local ecommerce retailers Zalora, Zilingo, and HipVan. It plans to establish more retail partnerships across the region.